Elin Nordegren's New Home Mirrors Demolished Mansion

Why did Elin Nordegren demolish the $12.3 million, 17,178-square-foot oceanfront property in North Palm Beach she bought last year?

Surprisingly, it made the most economical sense to do so, her builder told People magazine.

According to Dan Reedy of Onshore Construction and Development, the North Palm Beach pad -- located just 10 miles from her ex-husband Tiger Woods' new home -- was built in the 1920s, and didn't meet South Florida's building codes to withstand hurricanes. It was also infested with termites and carpenter ants.

According to TMZ, her new home will mirror the one that was just torn down, boasting 9 bedrooms, 2 living rooms, a detached guest house, and a wine cellar.

Nordegren purchased the home in February 2011. She and Woods have agreed to live near each other for the sake of their kids, 4-year-old Sam and 2-year-old Charlie.

Nordegren is still reportedly dating businessman Jamie Dingman, despite allegations that he is a "player." Dingman, whose father is billionaire Michael Dingman, has been linked in the past to Bridget Moynahan and Princess Madeleine of Sweden.

Nordegren's split from Woods was finalized in August 2010. She reportedly received $110 million in the settlement.

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Comments

[SaddleBum]

10:02 AM on 01/14/2012

one thing is obvious - the rich need more tax cuts

[deepthicket]

01:19 PM on 01/13/2012

12.3 Mil just doesn't buy what it used to.

[SonnyBono]

03:50 AM on 01/13/2012

No story here - Elin Nordegren just needed to add a safe big enough to hold her money, that's all. Elin Nordegren the PGA's leading money winner for 2011 and Vegas favorite to be the leading money winner in 2012.

[chiodo08]

03:14 PM on 01/12/2012

lesson to you boys with money...don't get married until your 60 and have nothing left lined up...what's the point?....

[chiodo08]

03:10 PM on 01/12/2012

..because it bored her

[skaggsdn]

10:57 AM on 01/12/2012

Elin is not a very smart person if history serves.

[darlenebonny]

09:29 AM on 01/12/2012

She did the right thing. That girl is on a roll, first Tiger, then the termites and ants. It's called cleaning house.

[gomudhens]

08:26 AM on 01/12/2012

A 12.3 million home and it was infested with termites and carpenter ants? Who would be stupid enought to let that happen?

[Tan Thanh Bui]

04:07 AM on 01/12/2012

Did she tear it down with nothing but golf clubs?

[SonnyBono]

03:47 AM on 01/13/2012

Never underestimate the power of a nine iron.

[Elleni]

12:20 AM on 01/12/2012

It was probably a good way to release stress.

[cgert88888]

08:05 PM on 01/11/2012

She did it because she could. Most estimates are that she got over $150 Million in the divorce settlement so her tearing down a $12 Million house is like most folks getting new living room furniture.

[johntoinvent]

06:47 PM on 01/11/2012

Just to show you the main problem in Home Sales, what is the condition of the house? currently the Realtor, the Tax Man, and the Bank have no interest in reducing the value of a home. When you buy a used car 20 years old, its not worth the value of a new car today. The same should be for homes.

[dboiani]

03:11 PM on 01/11/2012

50% of the 1%.

[djuno1966]

01:16 PM on 01/11/2012

Elin is allowed to spend as she wishes. Her investment will spur the local economy, provide a house staff with permanent employment, and give her children a normal single parent household. Her contractor will be grateful, the ecology will be improved. This is a positive idea all the way around

[Kopie]

10:01 AM on 01/12/2012

unfortunately those conditioned in class warfare have a hard time processing this.

[djuno1966]

01:15 PM on 01/12/2012

Elin, on the plus side, what chew gonna do with all dat junk, all dat junk dat's in yu trunk?

[Kingpleasure]

12:11 PM on 01/11/2012

It wasn't a 12 million dollar home, but it was sitting on some very valuable property. The actual home itself was not worth 12 million bucks. News Media should stop publishing these misleading gottcha titles.