Australian Family Refuses $50 Million Offer to Sell Home

zammit family house

For some, sentiment will always supersede wealth. This is certainly the case for the Zammit family, who refuse to sell their nearly five-acre Quakers Hill, Australia property, despite developers offering them a whopping $50 million for it.

Why Are the Zammits Being Pressured to Sell Their Home?

Real estate developers are constructing new homes in the area surrounding the Zammit’s property. Because the Zammits have been ardent in their decision to stay put, the developers have had to construct homes around the estate, creating an awkward, yet humorous aesthetic for the neighborhood. 

Diane Zammit described to The Daily Mail her memories of the land, saying it was “farmland dotted with little red-brick homes and cottages.” Now, it is dominated by two-storey houses situated only inches from one another.

In an interview with 7News, real estate agent Taylor Bredin said that, if sold, the Zammits property could possibly fit 40 to 50 new homes.

How Are People Reacting to the Zammits’ Decision to Stay?

Photo Credit: 12019 via Pixabay

Bredin commended the family for sticking to their guns. Their neighbors echoed this sentiment, one stating, “It means we have a cul-de-sac, which is much safer for our kids. And their big lawn next to us makes it feel like we’ve got so much space.”

Still, some think that the Zammits are crazy not to take the $50 million and run, with one Twitter user commenting, “True, but at this point wouldn’t $50m be enough to buy a house with a nice piece of land so this situation wouldn’t happen again as they own the surrounding land.”

They added, “Then again if the house has a lot of sentimental value to the owners I can totally agree with their decision.”

Other People Who’ve Refused to Sell Their Homes

The Zammits’ story is proof that you can’t put a price tag on sentiment. And their situation is nothing new. 

Seattle resident Edith Macefield, for example, refused to sell her home even after developers offered her $1 million for it. 

The 84 year-old Macefield had bought the house in 1952 for only $3,750. She died two years after she refused the offer, and her story became the inspiration for the film Up. 

The Edith Macefield House still stands to this day and can be visited by anyone curious to see the inspiration for one of Pixar’s best-loved movies. Fans often tie balloons to its front gate, a reference to the film.

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