Real estate experts say Trump Tower is worth millions more than the presidential mansion
Nearly a decade after one of the largest housing crashes in history, home prices are up. Including the one the president lives in.
Zillow says The White House is now valued at just a hair under $400 million — up 15 percent from President Barack Obama’s inauguration eight years ago. But as the 45th president takes over this week, it looks like he’ll be downgrading from his existing digs.
Donald Trump has spent the better part of 30 years living in Trump Tower, which Forbes values at $471 million, excluding his penthouse. When you add in that extra $90 million, Forbes estimates bring his work and home space value to more than half a billion dollars.
While he may be moving into a bit of a bigger personal space — Trump’s penthouse is 30,000 square feet to The White House’s 55,000 square feet — he may consider it a downgrade. Altogether, Trump Tower is 244,000 square feet — more than four times the size of The White House. Trump uses his tower for daily business dealings, and since winning the election has been using it to meet with politicians, foreign leaders, and employees.
The White House does top his other home, though. His Mar-A-Lago estate in Palm Beach, Florida is valued at $150 million by Forbes. He bought the property in 1985 for $5 million, Forbes says.
Zillow hasn’t been tracking the value of the White House for long, so it’s hard to make other comparisons. But Zillow says it is at its peak value since it began tracking when Obama took office in 2009. They expect the “house” to appreciate another 3 percent over the next year.
“President Obama’s term coincided with a massive recovery of the U.S. housing market, and that’s reflected in the updated value of The White House,” Zillow chief marketing officer Jeremy Wacksman says. “Home values across the country are growing at their fastest pace since 2006, with many markets setting new records — one of the reasons why The White House is worth more now than it has ever been.”
Trump Tower vs. The White House: Which would be better for you?
While The White House has increased in value every year since Zillow first started tracking the home, Forbes says Trump Tower is actually down in value — nearly a $160 million drop — from 2015 to 2016. So it may not even lead in value for much longer.
Trump said a few months ago he wasn’t sure about living in The White House, which would be the second time in history that a president hasn’t lived there. (George Washington didn’t, either, but that was because he oversaw its construction.)
If you had to choose where to live between the two places, where would you go?
If you’re looking for an all-inclusive space, Trump Tower may be for you. It’s 68 stories of residential, commercial, and retail space. It’s also got three restaurants — all named after Trump — when you feel like dining out but don’t want to go too far. If you’re looking for space on Fifth Avenue and want to rival Trump’s penthouse, there’s a few worth more than his.
While both places have an influx of tourists and visitors every day, it’s The White House that has a schedule of when visitors can come. And who could blame them? The White House has 132 rooms, 35 bathrooms, and six levels in the residence. If you’re living here, don’t forget The White House kitchen. It serves hundreds of people every single day and can make literally anything you want. It even has its own garden that First Lady Michelle Obama planted in 2009, so freshness of food will never be an issue. Where’s the garden at Trump Tower?
Article last modified on June 19, 2017. Published by Debt.com, LLC . Mobile users may also access the AMP Version: The White House Is A Big League Downgrade For Trump - AMP.