Whitney Houston: Former Home On Offer For $1 Million Below Cost, But Is It A Bargain?

Whitney Houston’s Morris County estate is on the market once again, but this time it’s listed at only $1,499,999, a massive $1 million less than it cost her to build. Twenty-six years ago Houston spent $2.7 million designing and building the dream home.

Back in 2009 the estate was listed for $2.5 million, and has been on and off the market ever since then. Obviously, selling a property which cost nearly $3 million to build, two and a half decades later for roughly half-price is a tough pill to swallow.

Real estate agent Gregory Taylor, who is offering the property, said: “It was on the market several times but there were some hiccups along the way. It was purchased from the estate and cleaned up. The current owner wishes to remain anonymous.”

The property had been empty for years before Whitney Houston passed away at the Beverly Hilton. The autopsy report stated that the cause of death was from drowning in a bathtub, but cocaine was mentioned as probably a contributory factor.

The mansion, located in the Oak Knoll section, was also the venue of Houston’s wedding to Bobby Brown in 1992. More than 700 people showed up for that event and in 2005 the reality TV series “Being Bobby Brown” was filmed there.

The stunning custom built house, sits on five private acres and has a driveway big enough for about 15 cars. Inside there are five luxurious bedrooms, four bathrooms and a few ornate fireplaces. Outside there is a large patio deck, pool, pool house and tennis court.

Even though taxes paid on the property in 2003 amounted to nearly $40,000, Taylor reckons the house is a steal: “It recently appraised for $1.8 million, so it’s a really good buy,” he said.

Only time will tell what the final selling price of Whitey Houston’s former house will be; it could possibly be sold for even less than the current asking price.