There are not many buyers looking at Barrington mansions for sale but there are enough to choose from. These large properties, often with sizable acreage, offer buyers the largest homes in the zip code 60010. Big mansions for sale in our area are often lovingly referred to as McMansions. Building of new extremely large homes has slowed down a lot, those being built now are more moderate in size. The largest of the homes are just not selling well, they could be considered poor investments.
The best and easiest way for us to show you Barrington mansions is to add a lower price limit of $4 Million. Generally this will bring up the homes with 10,000 square feet or more. Sometimes homes are listed for sale far too high in price and don’t meet the “Mansion Perception Standard” in anyone’s eyes except their own. Mansions here often have a large parcel of land too. Barrington Hills has parcels that can exceed 100 acres of land. It’s not difficult to find the larger estate homes and Mansions in Barrington Hills that have 20+ acres.
Gallery of Barrington Mansions For Sale
In addition to large lots and sizeable homes, there are other features mansions in Barrington may offer that you would like.
- Sports courts are one feature often seen sometimes in separate buildings.
- Gymnasiums and locker rooms.
- Oversized swimming pools with jacuzzi tubs and often pool houses.
- Helipads are available on the top tier of our mansions.
- Large garages with several bays for car collections are usually in addition to the home’s main garage.
- Wine cellars.
- Movie theaters.
- Multiple kitchens and often bars.
- Extensive millwork.
- Indoor elevators.
- Automated security systems and house control systems.
- And of course, lots of bedrooms, bathrooms, rooms, fireplaces in those rooms.
Barrington Mansions Sales Considerations
Mansions in the Barrington area don’t sell as close to asking price as the median priced homes, a lot depends on how aggressive or realistic the owner is at sale time and how buoyant our market is. For sellers that have mansions to sell it’s not a matter of finding comparable sales to base your asking price on. There are very few sales each year. A square footage price is not accurate either. That never allows for the age of the property, the features and benefits or the size of the lot. Between 2008 and 2016 there have only been four Barrington mansions sold and two of those were already listed again for sale in 2017.
Mini Barrington Mansions For Sale
Maybe $4 million is too steep or you want a less ornate type of home. The price of $2 million to $4 million may have just what you need without the high price ticket. You can view all those homes here.
You’ll likely have noticed that most of our Barrington mansions are Barrington Hills, a few in South Barrington and Inverness. Every now and then one will pop up in Wynstone North Barrington as well. The market value of the lower tier mansions in Barrington are easier to establish. With more sales each year buyers can at least get a range of low to high. Often with mansion prices in Barrington it comes down to what the buyer is willing to pay; many sales are cash so do not require an appraisal. For financed purchases on mansions it’s normal for buyers to seek finance from more than one lender and therefore more than one appraisal will be carried out. Appraisers will focus more on cost to rebuild a mansion, value of land and combine those allowing for age, rather than seeking out comparable sales which just may not be available.
If you are looking for cheap old mansions for sale to renovate, Barrington Hills may have what you’re looking. They are not available often due to limited amounts. While some of our homes here are nearly 100 years old, they are not as big in square footage. You would need to consider the cost of renovating and whether it would be to live in or sell for profit. Unique homes are not in high demand either, so careful thought would be needed for your renovation.
Barrington is not an area with a lot of very old mansions for sale. If renovation is your dream, you might consider other nice big homes for sale with less square footage and more opportunity to sell once your work is complete.
Considerations Before Buying at This Level
None of us can predict the time we expect to stay in a home once we’ve purchased but all of us should have some plan. Plans do change and buyers should also look at re-sale before buying. In the future is it at all likely you’ll need to or want to move?
Selling these properties is a challenge in any market. You should expect any future sale to be a long process. The higher the price now, the longer the time to sell in the future, no matter what the general real estate market is doing. There’s always a limited pool of buyers looking at luxury homes for sale, big mansions have even less buyers. As long as you understand these expectations now, you’ll be better prepared at the time of sale that very big houses for sale draw very few buyers.
Let Me Help You Find a Mansion or Large Estate home in Barrington.
For further assistance or to start your home search, call Corinne Guest, Barrington Realty Company at (847) 363-3686.
Or fill in our easy form below.