10 reasons I hate Australia’s Best Home

I have to admit to feeling a teeny stab of jealousy as I watched “I own Australia’s best home” season 1 on Netflix. After all, I lived in Oz for seven wonderful years and their weather is certainly better than my current abode (Ottawa, Canada), which is the 2nd coldest capital city (after Mongolia’s Ulan Bator).

But other than that, the idea that these homes represent anything other than a shameful, ghastly waste of talent, time, and money is, well, a sham.

Before I comment further, take a tour yourself: https://www.lifestyle.com.au/videos/tour-the-home-tropical-maze-federal-nsw-5109348949001.aspx

I wrote, Why You Should Treat Even Your Principal Residence as If it Was a Rental, https://profbruce.tumblr.com/post/153639912969/why-you-should-treat-even-your-principal-residence because I believe your assets should work for you rather than the other way round.

Now if you own that place in Byron Bay, it surely is you working really hard to pay for your ostentatious home and property.

OK, so why else don’t I like it?

1. it has a pool; there’s your first clue Sherlock–pools are energy, chemical, money and time suckers, 2nd only to golf courses [thankfully this 40-acre retreat avoided a 3-hole executive course]
2. it has horses–here are the three fastest ways to become poor: Get a divorce, buy an NHL franchise (guilty), own a horse ranch
3. does it have a 0-step entry? NO
4. is it accessible? NO
5. does it have an in-home apartment for multi-generational living arrangements? NOPE
6. does it have a tech/multimedia package? NO
7. does it embrace green/smart home technology? NO
8. does it have a workshop/makerspace/micro office or retail space? SORT OF… it has a yoga studio but I suspect mostly for poser value, it’s probably not a revenue generator…
9. does it have a games area? YES, it has a maze, which gets old after a single use
   
10. does it have a coach house? YES, but for rich guests–it’s not a moneymaker

I could go on, but you catch my drift.

You want to retire? Some day?

Not like this because, no matter how much you start with, if you lose money every year, you eventually run out.

When you brag that you own Australia’s best home, in fact, what you are actually saying is, “I own Australia’s worst home!”

Prof Bruce

Bruce M Firestone, B Eng (civil), M Eng-Sci, PhD
ROYAL LePAGE Performance Realty broker
Ottawa Senators founder
Real Estate Investment and Business coach
1-613-762-8884
bruce.firestone@century21.ca
twitter.com/ProfBruce
profbruce.tumblr.com/archive
brucemfirestone.com

MAKING IMPOSSIBLE POSSIBLE