Owning a Downton Abbey costs big bucks
You'll pay millions a year just to maintain a sprawling UK mansion. Major renovations could cost much more.
CNBC calculated the cost of buying and keeping up a grand property similar to what the Grantham family owns on "Downton Abbey." Maintaining that level of splendor doesn't come cheap.
You can buy some U.K. estates for a pretty sweet deal. Check out the beautiful Apethorpe Hall, which was selling last year for just $4 million, according to The Daily Mail. But the place has a few problems, starting with the fact that not one of its 48 rooms has a bathroom. The estate has fallen into disrepair and needs an estimated $6.5 million to return to its previous glory.
For a more manageable mansion, there's Bletchingdon Park in Oxfordshire (photos here), which CNBC says has 24,000 square feet and is selling for $52 million.
Buying the estate is the easy part. Paying to maintain it will give anyone heartburn. No wonder Lord Grantham was freaking out about money in the third-season premiere of "Downton Abbey."
Maintaining, say, a 1,500-acre property will require a butler, cook, secretary, groundspeople and cleaning staff, CNBC reports. You may need some gamekeepers if you enjoy hunting. In all, it would cost as much as $1 million a year to employ the necessary staff.
Keeping up with all the regular repairs to the place could easily cost another $100,000 a year. And major renovations after you buy could come to $6 million to $8 million.
In total, you'll need at least $1.5 million a year just to keep the place going.
Might as well buy one of the less stately U.S. castles, which lacks the historical grandeur but at least has a more tolerable price tag. Check out this list on Zillow of 10 castles for sale in the U.S., at prices ranging from $1.1 million to $11.4 million.
The real "Downton Abbey" is Highclere Castle, which has hundreds of rooms with walls covered in leather and green silk, reports The Boston Globe. It sits on 1,000 acres and has become a major tourist destination.
More on Money Now
- Could a $1 trillion coin fix the national debt?
- Dollar stores feeling the pinch
- NBC sends Donald Trump a warning
What ever it is I just love the Show" Downton Abbey" I spent 3years 62-65 in Mildenhall with my
Air Force husband and just loved the people they are so giving.
You couldn't report on the banks and the crap settlement? You couldn't find an article on how we are so frustrated with Washington that I'm sure many Americans want them swimming for their lives in the Potomac with cement shoes. How about the money starting to leak out of the markets and likely headed out of the country? How about how Generation X and Y have been oblivious to the state of the economy and remain deeply in debt in spite of being able to walk away from reasonable homes only to move uptown? How about the fact that Fund Groups are broke from extracting too much in fees and can't fluff your 401K this year with other people's new money because there wasn't any REAL job hiring last year?
The author of THIS stupid article better not be getting paid for it.
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
You don't have to sign up for Medicare. The catch? If you don't enroll when you're first eligible, you could pay some serious financial penalties later in life.
- Student loan debt climbs for 5th year in a row
- Plans revived for 'floating city' of 50,000 people
- Homeowners insurance: Bountiful coverage for bad cooking
- 3 stocks for the 3-D printing revolution
- Why restaurants are adding tablets to the tables
- America's greatest export is its debt
- True test for Obamacare: Will it make US healthier?
- Who will foot the bill for Detroit's bankruptcy?
- How to refinance without resetting the mortgage clock
[BRIEFING.COM] The S&P 500 shed 0.1%, registering its fourth consecutive decline. Today's session proved to be a bit of a roller coaster ride for stocks as the S&P 500 opened in the red, rallied into positive territory, fell to fresh lows, and regained the bulk of its losses into the close.
For the second day in a row, the early weakness coincided with heavy selling in Europe. In addition, bonds and risk assets were pressured by a better-than-expected ADP Employment report, which ... More
More Market News
For years, Todd Mills pushed Frito-Lay to make taco shells from Doritos. He died from a brain tumor on Thanksgiving.