NFL superstar Travis Kelce is making headlines not just for his on-field dominance with the Kansas City Chiefs but also for his extravagant new home in Leawood, Kansas. The $6 million mansion, reportedly designed with a full-fledged man cave and golf simulator nestled underneath, exemplifies a growing trend among the wealthy to build down instead of up—a trend that’s taking the luxury real estate market by storm.
Dubbed “iceberg homes,” this architectural phenomenon is gaining traction as an upscale solution for those who want all the luxury without the showy exterior. With the increasing demand for private, expansive living spaces, affluent homeowners are turning their attention to subterranean construction to maximize their properties without drastically increasing the above-ground footprint.
What Is an Iceberg Home?
An iceberg home is a property where the majority of the living space is buried beneath the surface, often making the house appear more modest from the outside while concealing extravagant interiors below. These homes, which have been called the “latest real estate flex” for the wealthy, feature high-end amenities such as pools, wellness centers, home theaters, wine cellars, and even private doomsday bunkers—all hidden beneath the surface.
As Justin M. Riordan, founder of Spade and Archer Design Agency, explains, iceberg homes appeal to those who understand that true wealth is measured not by the size of a house but by the quality of life inside. “The hidden opulence of iceberg homes reflects a modern understanding that true wealth is about the quality of life inside, not how much of it is on display,” Riordan notes.
In other words, the trend reflects a shift away from traditional, ostentatious mansion-building toward more thoughtful, functional luxury that prioritizes comfort and convenience for the homeowner rather than trying to impress the neighbors.
For Kelce, the decision to dig deep into his property reflects his personal preference for privacy and exclusivity. With a golf simulator and other high-tech amenities, his underground space is designed to offer a getaway from the pressures of fame. But Kelce is far from alone in embracing this trend.
The Growth of Iceberg Homes
While iceberg homes are relatively new to the United States, they have been a hot commodity in cities like London for over a decade. The trend has caught on particularly in areas where real estate is scarce and expensive, such as central London, where building outward is often not an option due to zoning laws and limited space. Between 2008 and 2017, more than 4,600 basements were approved in the city, featuring gyms, swimming pools, cinemas, wine cellars, and even artificial beaches.
The trend has slowly made its way across the Atlantic. In places like Los Angeles, an iceberg basement project can cost well over $1 million, but the added space has proven to be a worthwhile investment for those looking to expand their living area without increasing the property’s external size. Ron Myers, a real estate investor in Florida, explains that a finished basement adds usable square footage without the need for a second story or additional outward construction.
For high-net-worth individuals looking to make the most of their investments, the basement is a goldmine of untapped potential. In warmer climates like Phoenix, where air conditioning costs are high, homeowners are increasingly looking to create livable spaces underground, keeping the upper levels cooler while offering a more energy-efficient way to add square footage. Stacy Miller, a real estate agent in Phoenix, notes that homes with finished basements are highly sought after and often sell faster than those without.
The Multifunctional Appeal of Iceberg Homes
The popularity of iceberg homes is also fueled by their multifunctionality. Many homeowners choose to turn their underground spaces into rentable units, guest suites, or entertainment areas, offering them the flexibility to generate passive income or accommodate family and friends. This trend has proven to be particularly profitable, with buyers seeing great potential in converting basements into revenue-generating spaces.
“My clients are always excited when they realize the potential to turn a basement into a rental unit or guest house,” says Myers. “In today’s competitive real estate market, that extra income stream can be a deciding factor when making an offer.”
Challenges and Risks of Building Underground
While iceberg homes offer a range of benefits, they are not without their challenges. Constructing such expansive underground spaces can be costly and complicated. In 2020, a $6 million luxury home in London collapsed during work to expand its basement, highlighting the potential risks involved in underground construction.
Additionally, the environmental impact of these homes cannot be ignored. Concrete, used extensively in basement construction, contributes to greenhouse gas emissions, furthering concerns about the carbon footprint of these lavish subterranean spaces.
There are also practical considerations that can make underground living less desirable for some. Basements are often damp and musty, raising concerns about mold and moisture control. Without proper ventilation and insulation, subterranean spaces can become uncomfortable or even unsafe to live in. In flood-prone areas like Florida, basements can become waterlogged, requiring costly measures like sump pumps to prevent flooding.
Designing Iceberg Homes for Comfort and Style
Interior designers have adapted to the unique challenges of creating stylish and livable spaces underground. Since basement spaces often lack natural light, designers use reflective surfaces, layered lighting, and strategic placement of mirrors and light fixtures to brighten up the area. Adding greenery, such as indoor plants or vertical gardens, also helps create a sense of life and connection to nature, offsetting the sometimes-cloistered feeling of being underground.
Susann Goerg, an interior designer and CEO of Happy Homes Interior Design, suggests that using high-gloss finishes and plenty of LED lighting can transform a dark basement into a luxurious, inviting space. “With the right design elements, even a basement can feel like a light-filled, open area,” Goerg explains.
The Future of Iceberg Homes
As more homeowners, including celebrities like Kelce, embrace this trend, iceberg homes are sure to become an increasingly common feature in the luxury real estate market. From expansive underground gyms to private wine cellars and home theaters, the possibilities for below-ground living are limitless.
Whether they’re being used for personal enjoyment, as rental units, or as private retreats, iceberg homes are reshaping what it means to live in luxury. They combine privacy, functionality, and opulence in ways that traditional mansions can’t match. With the trend only gaining momentum, it’s clear that iceberg homes are the future of elite living—quietly luxurious, cleverly concealed, and designed for those who value substance over flash.
