Elin Nordegren's New Home Mirrors Demolished Mansion

01/09/2012 03:15 pm ET | Updated Aug 07, 2013

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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