Home industry professionals would argue that a homeowner should buy a home they can afford. When homeowners work with general contractors to upgrade their homes, they should keep the same principles in mind. So what was rapper 50 Cent thinking when he bought this 52-room mansion in Connecticut, New York? After all, he ended up filing for bankruptcy!
His mansion costs how much $$$?
50 Cent – a.k.a. Curtis Lee Jackson – told Business Insider magazine that he’s not a wealthy man, hence why he filed for bankruptcy last month. The news source says his filings estimate between $10 million and $50 million in assets and debts. Yet in his possession is a 52-room mansion, a home he’s put on and off the market for several years (it’s currently OFF the market). Here’s a breakdown of how much his home costs on a monthly basis:
- $9,000 on security;
- $5,000 on gardening;
- $72,000 on the mansion itself.*
On a monthly basis, 50 Cent is pouring $86,000 into his home. No wonder he filed for bankruptcy! At least, that’s what we would think. Here’s what filing for bankruptcy means for the rapper.
His mansion boasts these features
What goes into a 17-acre, 52-bedroom mansion, anyway?**
- 21 bedrooms;
- 25 bathrooms;
- movie theater;
- night club;
- basketball courts;
- indoor/outdoor swimming pools;
- a casino.
When you have all of that entertainment and play built into one property, it’s no wonder the place is so big!
So, why did he purchase the home in the first place? In a 2012 interview with Oprah Winfrey, he admitted he purchased the place from Mike Tyson when he could no longer afford it.
Take a tour of his house***
A picture is worth a thousand words, right? Here’s a tour of 50 Cent’s abode.
Master Ensuite and Bath
Does staring at this home make you want to renovate? A lot of the amenities in 50 Cent’s home requires a highly experienced expert. Our directory features a list of design and build specialists who can make some really cool transformations a reality in your home. If you’re looking for a simpler renovation, say a new kitchen or bathroom, then you may want to consult our list of general contractors. Our directory lets you search for an expert in your neighbourhood. Plus, you can read through customer reviews to find the right renovator for your home project.
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Your home renovation doesn’t have to break the bank
*Source: CBS News.
**Source: Digital Trends.
***Source (Photos): Business Insider.