Watchlist Sponsored By :
- Fed to Keep Rates Low Despite Dollar's Fall: Bernanke
- Millions Could Have to Repay Part of Obama's Tax Credit
- Hollywood Turns to Porn as Unemployment Rises
- Slideshow: US Cities With Most Underwater Mortgages
- Faber: Paulson Funds Have Solid Quarter, Up Big for Year
- Gold Is in a 'Bubble' And Will Keep Going Higher: Gartman
- Diamonds: The Next Big Bubble to Burst?
- Slideshow: Madoff's Luxury Boats Go Up for Auction
- Solar Energy Emerges From a Dark Period
- Getting To The Heart Of The Merck-Abbott Embargo Break
- What MGM's Sale Could Say About Value of Content
- My Ratings on Lowe's & Home Depot: Analyst
- S&P Stocks Trading at New 52-Week Highs
- Snoop Dogg Talks Biz
- Paulson Funds Report Q3 Performance
- Warren Buffett's Berkshire Portfolio Snapshot Coming Later Today
- 'Blood and Business Don't Mix' — A Family Business Survival Guide
- Mixed Signals Come From Retail Sector as Holidays Draw Near
MOST SHARED
- Has Twitter's Finest Hours (Seconds) Come and Gone?
- Fed Likely to Keep Rates Low Despite Dollar's Fall: Bernanke
- Millions May Have to Repay Part of Obama Tax Credit
- Underwater Mortgages Could Sink Even Deeper
- BlackRock: Central Banks To Be Net Buyers of Gold
- U.S. May Wind Up Green With Envy
- Bernanke Offers Something For Everyone
- Madoff Auction: $4,750 for a Decoy Duck?
- Busch: US Health Care Bill a Concern for the Chinese
- Cisco Ups Tandberg Bid, Claims Over 40% Backing
powered by digg
How NOT to Buy a Second Home
Topics:High Net Worth | Real Estate
Text Size 
 |
In this CNBC.com Exclusive Web-Only video with High Net Worth host Tyler Mathisen, real estate guru Barbara Corcoran reveals the five biggest errors affluent people make when buying a second home.
Don't buy a McMansion in a vacation area: "McMansions are the white elephants of the century."
Barbara Corcoran- Don't buy oceanfront property in a foreign country: "You have to play by the local laws and it's a lot of take on."
- Don't buy a home more than two hours from an airport: "No one wants to buy a beautiful home and have no one come to visit."
- Don't buy something unusual: "Unusual is deadly for real estate. The resale value just isn't here."
- Don't buy a property that has more than two of anything, including maids, housekeepers or horses: "You'll be a manager versus a vacationer."
See more from Barbara Corcoran, including showcase real estate properties like a storybook French castle and a $55 million log cabin, this Sunday, March 25 on CNBC's High Net Worth at 8PM and 11PM ET.
© 2009 CNBC.com
Print
Email
- Where, what, how.
- CNBC's Jim Goldman asks: Has the sun begun to set on Twitter? Data suggests its best days are over.
- Nearly 1,000 bidders showed up to the auction of Bernie Madoff's possessions, raising nearly $1 million for his victims.
- De Loach Vineyards is selling its pinot noir the old fashioned way, helping to cut energy and transportation costs.
- Why are the Chinese concerned about the progress of U.S. health care legislation?
- CNBC's Maria Bartiromo talks to rapper Snoop Dogg about brand identity in both business and music.
MORE FROM CNBC
Data is a real-time snapshot *Data is delayed at least 15 minutes