Tuesday, September 13, 2011

Tues Post#2: I am not worthy

You read our comparison of a $900,000 home in West Palm Beach, Florida with a bungalow on the east side of Vancouver from earlier this morning. The West Palm Beach home is listed for $925,000.

Let's carry on the theme of comparing homes, this time instead of a dump in East Vancouver let's contrast the West Palm Beach house (6,898 sq. foot 5 bedroom home on 2.5 acres with a guest house and five car garage) with an opulant home on Vancouver Island.

From time to time I love checking out a website called Pricey Pads which profiles expensive properties for sale around North America.

Recently we were given a glimpse of Dunmora Estate in Saanich on Vancouver Island (click on images to enlarge).

Built in 1926, Dunmora Estate is a beautiful 10,047 square foot mansion with 5 bedrooms and 8 bathrooms.

With 3 fireplaces, the house sits on 6 acres of land with 420 feet of oceanfront property and a dock.  It also boasts a separate guest/staff suite, 2 garages and stables with paddocks.

Listed for $8.9 million it wasn't the hefty price tag for the Vancouver Island retreat that caught my attenion.  Rather it was the slick promotional video.
  • "To own a landmark such as Dunmora Estate is to declare a passion for legacy. Ownership will be an expression of pride in the responsible stewardship of a piece of history. To participate in the preservations of a property like this is to not only care for the connection to the past but also, create a piece of the story for future generations."
Watching the video I couldn't help but think of the recurring sketch 'Wayne's World' from Saturday Night Live and Mike Myers' immortal catch phrase "I am not worthy!"

I guess there is a niche for guilt marketing (although personally the script screamed 'money pit' to me).

Here is the video:

This home is clearly more luxurious than the West Palm Beach home, but Saanich doesn't quite have the same cachet, does it?

Is it really worth 9 times the value of the Palm Beach home?

I wonder how 'worthy' that $9 mil price tag will be in a few years?

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