How would you finance this ‘seasonal’ property?

by MPA25 Dec 2014
Christmas is here; the lights are strung up outside the house, the stockings are hanging over the fireplace and the shopping is done. It’s time to take a break from your mortgage business – unless you are financing the one house with building materials undoubtedly tastier than bricks and mortar: the gingerbread house.
Typically, a gingerbread house wouldn't need financing, because they normally sell for around $20. But the folks at VeryFirstTo, an online luxury retailer, have created a gingerbread house that they’re calling the “most precious Christmas gingerbread house ever”. It’s also the most expensive – at $77,910.
So what makes this house worth the hefty price tag? While most homes of the gingerbread variety feature candy cane lampposts, mortar made of icing and decorative gumdrops, this one is adorned with 150 AAAA-grade South Sea pearls and a five-carat Mozambique ruby set amid the icing.
So, if you know someone who has $78,000 lying around, they could indulge in this extravagant house, or maybe it would be better to use that amount to pay down the mortgage on their existing home; or give to the needy.
After all, the gingerbread house won’t have any significant long-term appreciation, once it’s been eaten by your Christmas guests.



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