I visited my sister, brother-in-law, and niece for Christmas. They just built a house in a guarded (not just gated) community near Tampa. The house easily exceeds $1M. The county assessor has not updated the property taxes on it yet, but their neighbors' houses run about $30k a year in property taxes. I have no idea how much the HOA fee is, but they are paying for at least 3 guards.
My brother-in-law has a general contractor's license, and he did a lot of the work himself. One would think this saved him a lot, but he put every conceivable upgrade into the house. Every room has its own AC unit, and there is a climate-controlled attic room that protects the six routers that connect every light, outlet, faucet, appliance, grill, AC unit, exterior insect repellent system, pool, and more.
They make a lot, so they can afford the place if they continue to work for the rest of their lives. But what really got me was my brother-in-law's statement, "This house is our retirement plan. In ten years when [my niece] graduates high school, we will sell it and live off the proceeds. There are always rookie professional ball players coming to town."
I about shit my pants. Our families' philosophies could be no further apart. I have two rental houses that generated $25k in tax-free profit last year. Plus we have $75k in portfolio income. We paid cash for our live-in home. The combined expenses for all three of my houses is less than what I expect they will pay in property taxes.
I will take my retirement plan over their's.