It’s not a problem that most of us will ever have — but it’s a good reminder of the general principle that homes fixed up with special features to suit the owner might eventually drive away would-be buyers. “Over-customization,” you might call it. Athletes with multi-million dollar contracts seem particularly prone to this syndrome.
Take a look at Tiger Woods’s $6 million digs for example: It’s not easy to dwarf a house with its own amenities, but this place comes close, with a tennis court, diving pool, lap pool, running track, boat slip, and golf green.
According to “Broke,” the 30 for 30 film by Billy Corben, one of the first things an athlete often does after hitting the big time is to buy a house for Mom. And another one for himself — a big one, with lots of rooms, perhaps a bowling alley or two. And then he goes on to buy a few more houses for friends and relatives. The title of the movie should tell you where all this often winds up, with the houses on the market or in foreclosure within a few years.
Alex Rodriguez is getting credit, however (in Darren Rovell’s article in ESPN), for having had the foresight to add nothing more than an indoor batting cage to his Miami Beach mansion, even while he poured in over $7 million worth of improvements. (He added white oak flooring. a zen garden, a rooftop deck, and so on.) A-Rod bought the place for $7.4 million and recently sold it for $30 million.
The buyer was not an athlete, but a businessman. And that’s “an important distinction,” says Rovell, “since so many athletes customize their homes so much that they find trouble selling them to anyone outside the sports world.”
So, there you have it. Best stick to a foosball table, that you can take with you when you move.