7-Bedroom Georgian Colonial, Detroit, Michigan

Forbes: Giant Homes for Bargain Prices

Price: $499,900

Nestled in gracious Indian Village is a historic home designed by architects Alpheus W. Chittenden and Charles Kotting. The house was built in 1914 and offers nearly 9,600 square feet of living space. Among its features are eight fireplaces, gorgeous original hardwood flooring, a wood-paneled library and a large sun room. There's even a third floor ballroom. The grounds have been fitted with a sprinkler system.

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9 Giant Homes fo... Some of the nation’s grandest homes sell for surprisingly little. In many cases, homeowners are unable to care for large homes so the structures fall into disrepair; other times the financial stress of ownership results in foreclosures and short sales. Then there’s always the location—areas with depressed housing markets often have stately, well-maintained homes for less than you’d imagine.

“Even when estates are priced in the millions, they can be a relative bargain given their size, amenities and architectural significance,” says Richard Thompson, National Vice President of Sales at United Country Real Estate. Thompson himself has seen sizeable Victorian homes go for $40,000. And full castles built by Civil War officers sell for a mere $400,000. “Old river towns often have illustrious homes built during a period of brief prosperity that cost very little now,” Thompson adds.

For buyers willing to spend more, entire estates can be bought. In Mount Dora, Florida, for example, one can buy an illustrious Mediterranean lake-front villa on 10 acres for only $2 million—not much considering that it offers 18,000 square feet of living space made up of 41 rooms. The home was built in 1904 and includes 13 bedrooms, nine bathrooms and 13 fireplaces. All of the original windows and millwork have been restored and preserved. Plus, there’s an indoor pool and the home is surrounded by formal gardens. In addition, there’s a workshop with an apartment above, and a boathouse that needs work.

What makes the property a real find, though, is its history. It was designed by Pittsburgh architect Edgar Vigners Seeler for James Laughlin, Jr., the head of the J&L Steel Company. In 2006, the Florida Trust for Historical Preservation presented the estate with a Florida Preservation Award. An added bonus to an already sweet deal.

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7-Bedroom Castle... Price: $1.2 Million

This 36,000-square-foot private residence has been completely renovated. There's no catch. The family just wants to take on a new renovation project. Originally built by the state of New York for the National Guard, the residence sits on 2 acres and has two guest wings with seating areas. There's also a 10,000-square-foot gymnasium, rifle range and billiard room. The house has 18-inch brick walls.

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7-Bedroom Greek ... Price: $499,000

Situated on nearly 3 acres, this 24-room estate has been completely refurbished. The 5,800-square-foot house commands an exceptional view of the town and the surrounding Allegheny Mountains. The property includes an in-ground pool, formal gardens and charming playhouse. There are seven large bedrooms, including two master suites and six bathrooms. Crystal chandeliers, oak floors, brand-new kitchen with granite countertops, two fireplaces and solid masonry are among its other features. There is also a huge front porch with views.

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13-Bedroom Medit... Price: $2 Million

This residence of 18,000 square feet is situated on 10 acres overlooking a lake. The house has 41 rooms including 13 bedrooms and 7 bathrooms. Designed by Pittsburgh architect Edgar Vigners Seeler, it also includes an indoor pool with shower. There are 13 fireplaces. Outside, a huge porch, formal gardens, a workshop with separate apartment above and a two-story boathouse make up the rest of the property.

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10-Bedroom Camp-... Price: $499,000

This 8,028-square-foot house is currently in disrepair. However, its interior retains exquisite architectural details including wood-paneled rooms with hand-painted murals, turned bannisters, extensive millwork and original bath pieces. Views from both its wrap-around porch and windows reveal a spring-fed pond, the Catskill Mountains and a gazebo. Access to the house, which sits on 18 acres, is via a private drive. Original plantings, once part of the ornamental gardens here, remain. There is also a lovely free-standing ice house.

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7-Bedroom Georgi... Price: $499,900

Nestled in gracious Indian Village is a historic home designed by architects Alpheus W. Chittenden and Charles Kotting. The house was built in 1914 and offers nearly 9,600 square feet of living space. Among its features are eight fireplaces, gorgeous original hardwood flooring, a wood-paneled library and a large sun room. There's even a third floor ballroom. The grounds have been fitted with a sprinkler system.

(Forbes Image)

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5-Bedroom Victor... Price: $280,000

Beautifully maintained, indoors and out, this Victorian house is distinguished by its wrap-around porch, leaded glass windows and formal gardens. Its grand foyer and staircase provide a dramatic first impression. And elaborate fireplaces, wide millwork, hardwood floors and fretwork are impressive, as well. The house offers more than 4,000 square feet of living space and has four and a half bathrooms. It sits on three quarters of an acre.

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4-Bedroom Italia... Price: $199,900

Situated in a quiet historical district, this brick mansion is an architectural gem. The 5,000-square-foot home overlooks the town green. The house, which features a gorgeous verandah and Victorian fretwork, has been used as a bed and breakfast. Among its features are gorgeous wood floors, period-preserved millwork and a gracious bannister. The house has four themed guest rooms, a library, guest kitchen, great room, dining room, kitchen with butler's pantry, six bathrooms and more. Potential short sale, subject to lender approval.

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5-Bedroom Histor... Price: $365,000

Visitors who pass through the four stately columns at the front of this house enter a grand entryway with a curved staircase. First owned by a carriage maker named William Bobbitt, the 4,816-square-foot house, which dates back to 1840 or earlier, has been fully restored by its current owners. The five-bedroom, five-bath house has 10-foot ceilings, two parlors, a banquet-size dining area adjacent to a sun room and an exquisite garden designed by Charles Gillette. Wide crown molding, hand-crafted paneling and wainscoting are throughout. And there are tin ceilings in the library. All of the systems have been updated.

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6-Bedroom Mansio... Price: $265,000

Built in 1911, this 5,260-square-foot house was an anniversary present for the wife of a successful saloon and liquor distributor. All of the home's intricate woodwork is original. During WWII, the home served as a dorm for girls and was called Esther Hall. The front door is framed by two stained glass sconces. Later, when the Elks Club bought it, the foyer served as a poker room, and the fixtures retain their elk head decorations. The house has been replastered and the gold leaf on the ceilings has been redone. The kitchen has been remodeled.

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