That new $54.3 million contract Kevin Durant signed will come in handy. Although he’s never going to lack anything financially, that doesn’t mean he should start doing bad business.
Durant, who decided to sign with the Golden State Warriors in free agency, is moving to the Bay Area, which means he’s selling his old home in Oklahoma City.
Home ownership is generally a huge investment that can pay back nicely depending on what you do with the home.
Durant is however taking a loss on his old home, getting about $200,000 less than what he initially paid for it.
According to Rich Maze of the Oklahoman, the Warriors forward is absorbing a loss on his way out of town.
“The former Thunder forward is offering his specially remodeled digs at 420 NE 2, part of The Hill at Bricktown, for $1.5 million.
That’s less than the $1.769 million he paid for side-by-side three-story properties brand new in 2013 before remodeling them into a single residence.
The for-sale price is far less than the $3 million or so Durant poured into the place in all, said Rhonda Bratton, an agent with Churchill-Brown & Associates Realtors.
The county assessor estimates its market value at $2.169 million.”
While it's not the end goal for selling a home, Durant should be just fine after signing a potential $300 million contract with Nike, and being one of the NBA's premier players at a time when NBA contracts are at their highest in NBA history.
New Bulls star Dwyane Wade in contrast decided not to sell his Miami home, instead leasing a mansion in Chicago.
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