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Do you know anyone that has actually won? I don't mean knowing them personally but maybe the news media besides HGTV covering it? I never enter sweepstakes but I have been entering this every year since 2002. But I have been entering maybe once a week up until this year. I have been entering every day. That is my dream to win that sweepstakes but I haven't heard of any actual people winning that are covered by any major or local news stations.
I could be wrong on this but I'm pretty sure that every single family that has won one of the HGTV dream houses had to quickly sell it because they could not afford the taxes or maintenance on these large, elaborate (albeit beautiful) houses.
I could be wrong on this but I'm pretty sure that every single family that has won one of the HGTV dream houses had to quickly sell it because they could not afford the taxes or maintenance on these large, elaborate (albeit beautiful) houses.
OK, it appears that one family actually kept it for eight years, one family nearly went broke by trying to keep it for four, and the rest quickly sold.
I could be wrong on this but I'm pretty sure that every single family that has won one of the HGTV dream houses had to quickly sell it because they could not afford the taxes or maintenance on these large, elaborate (albeit beautiful) houses.
I think you have a point because that's the same thing that happen to a some of the people that had homes built from Extreme Home Makeover. It was high taxes, electric and gas bills too.
But I know of two families in Fayetteville, NC and Fort Bragg, NC when they came to build the houses. I was actually down at Fort Bragg when Michelle Obama was there. I didnt get to see her because their was thousand of people there.
I usually enter the HGTV Dream Home sweepstakes because the houses are always so cool. I hate that for the most part, they are located in places I would rather not want to live though. The houses in Sonoma CA and New Mexico are the only ones I could see myself living in. The others, meh, not so much.
The current giveaway in Utah I would consider. Wish they would do a dream home in Los Angeles though.
If I won, I would take out a second mortgage on either my current home or Sherman Oaks Condo. Would use the money I take out of the property to pay for the taxes on the dream home. Would then, rent out both my current home and condo to pay for the second and to have a few extra spending dollars in my pocket while living in my "Dream Home". Would then start a business in my new location to earn a living. I think that is the biggest problem for most of the people who win - affording to pay the taxes and being able to find work if/when they move to new locations.
OK, it appears that one family actually kept it for eight years, one family nearly went broke by trying to keep it for four, and the rest quickly sold.
I think you have a point because that's the same thing that happen to a some of the people that had homes built from Extreme Home Makeover. It was high taxes, electric and gas bills too.
Ugh. Don't even get me started on extreme home makeover. These poor families ended up being more victims than beneficiaries. They did new construction--automatic reassessment value. In most cases, they built properties way over the average value of the surrounding neighborhood. So not only was the family saddled with a tax bill they couldn't carry, who the heck was going to buy a castle in the middle of a ghetto? And even then, the buyer would have to overlook the outlandish novelty interiors.
At least the HGTV dream homes seem to be built in area's that share a similar market value and they are decorated by conscientious licensed designers.
The area where this family's regular is home is quite "upscale" altough they live in a relatively modest home. As the article states the "cash prize" meant that the whole value of the furnished vacation resort home was able to NOT have a negative income tax impact on the family.
I suspect the ability to profit / break even from a home near enough to a ski resort is one reason why there were over 75 million entries for that year's contest. I also doubt that HGTV will be able to do too many such projects as land costs in such areas tend to be sky high...
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