$10 Million Dollar Homes for Sale in Southern California

Mansions are 8,000 square feet or more. You can review all California mansions for sale on my real estate website today.

Purchasing a $10 million home usually requires a very high income, often between $2.5 to $3 million per year. Buyers typically need to make a substantial down payment, around 20 to 30 percent of the purchase price-which means having $2 to $3 million in cash upfront. Additionally, having an excellent credit score (usually above 760) and significant liquid assets is essential to qualify for financing and manage ongoing expenses.

We must talk in person, by phone, or via Zoom meeting. All potential buyers in California must sign a buyer-broker agreement allowing us to show you real estate, advise you on the property, and represent you in the purchase. Our goal is for the seller to compensate us on your behalf through an accepted offer. We can talk more about the new rules of real estate. You, as a buyer, will need to provide your proof of funds or pre-approval letter before viewing properties in person.

Some of the high-priced homes may inquire about what you do for a living. I’ve seen all kinds of things like this over 31 years of real estate.

Review them all at Southern California Luxury Homes: Luxury Real Estate (2025) on RedWagonTeam.com.

Owning a luxury home comes with considerable ongoing expenses. Monthly mortgage payments can range from $40,000 to $60,000, depending on the loan terms. Property taxes often amount to about 1.25% of the home’s value annually. Homeowners should also budget for insurance premiums, which can be $30,000 or more per year, regular maintenance costs (typically 1-2% of the home’s value), utilities, and any homeowners association fees if applicable.

Homes in this price range usually boast impressive architectural designs and luxurious amenities. Common features include grand entryways, spacious living areas, gourmet kitchens with high-end appliances, expansive windows offering breathtaking views, resort-style swimming pools, custom finishes like marble or hardwood floors, private theaters, wine cellars, and fitness centers.

These ultra-luxury properties are often found in prestigious and desirable locations. Popular markets include areas like Beverly Hills, Laguna Beach, Newport Coast, Newport Beach, Corona Del Mar, and San Diego County. Such homes typically offer stunning views-whether of city skylines, oceans, or natural landmarks-and provide access to exclusive neighborhoods and upscale amenities.

Financing a $10 million home generally involves jumbo loans, which have stricter qualification criteria than conventional mortgages. Some buyers opt for private banking loans that offer tailored terms based on their financial situation. Portfolio loans are another option, allowing lenders to use more flexible underwriting standards depending on the buyer’s overall financial profile.