In my area, a high-value home remains empty despite incurring significant upkeep and taxes. What motivates buyers to keep properties uninhabited, and how typical is this trend?
Expensive homes often remain unoccupied because many buyers treat these properties as investments or secondary assets rather than primary residences. In periods of robust market appreciation or uncertain economic climates, it becomes more beneficial to hold on to these homes as a store of value rather than occupy them, ensuring minimal disturbance and upkeep. I have noticed in my experience that some investors prefer renting them out minimally or leaving them empty to preserve the asset, and this seems especially common in regions with rapidly rising real estate prices.
sometimes, expenive homes are kept empty as financial bets rather than livng spaces. owners may prefer waiting for a market boost over dealing with the daily hassle of maintaining a lavish house since it secures their investment over time.