What do Ellen DeGeneres, Jeff Bezos, and Mark Zuckerberg have in common? Besides scandals, they have all bought the house next door. Why are they doing this, and is this a practice the rest of us might want to consider? Buying the house next door might make sense for wealthy titans, but is doing so a good strategy for the average homeowner or investor?
Why the celebs do it
Take Jeff Bezos
Buying the home next door is part of his MO — he’s known for this. Bezos, the richest person on the planet, bought several properties in the 1990s that surrounded his Seattle estate and, in 2014, bought the home next door to his Beverly Hills home. Most recently, as you might have heard, Bezos shelled out $165 big ones (million) for David Geffen’s old estate, 10 acres in Beverly Hills. And even with this purchase, Bezos still had a need to buy the house next door, a quaint two-story traditional, for a mere $10 million.
Why this newest house next door? No one knows for sure.
A home office, perhaps? A