Peter Jackson's Lord of the Rings trilogy introduced the beautiful Bag End where the famous Bilbo Baggins and his beloved nephew Frodo lives, but what is the exact real estate cost of the luxurious house in the Shire?
The movies have inspired many replicas of the Shire homes, and as the director takes audiences back into the same realm in his new movie, The Hobbit: An Unexpected Journey, many may consider the costs of owning and living in one of these miniature homes. Surprisingly, the size of the home is approximately 4,500 square feet, which is much larger than most homes today. With potato gardens, drawing and sitting rooms and almost $300 per square foot, the hobbit's home value is racking up to be over $1.3 million, quite hefty even for the hardy folk.
Pricy Middle Earth Dwellings
The Hobbit's Home Value Reaches 4,500 Square Feet and $1.3 Million
Trend Themes
1. Replicas of Shire Homes - Opportunity for real estate developers to create and sell luxury replicas of the iconic hobbit homes.
2. Miniature Homes - Potential for a niche market of downsizing and sustainable living with smaller, more affordable homes.
3. Fantasy-inspired Real Estate - Demand for unique and whimsical homes based on fantasy worlds presents an opportunity for innovative architects and designers.
Industry Implications
1. Real Estate Development - Developers can capitalize on the popularity of fantasy-inspired homes by creating unique and desirable properties.
2. Sustainable Housing - The demand for smaller, more affordable homes presents an opportunity for the sustainable housing industry to cater to this niche market.
3. Architecture and Design - Architects and designers specializing in unique and imaginative structures can create fantasy-inspired homes for affluent buyers seeking one-of-a-kind living spaces.