If you won the lottery($5 million), where would you live and why? (condos, townhome)

[mdp_az]

With "only" $5mm, I'd possibly stay in our current home in Durham. If not, I'd move to Asheville and either live close in to the city in an historic home or in a nice cabin a few miles into the hills. I'd also get a place on the sound near New Bern with a dock for a sailboat and a skiff.

[john_starks]

i'd probably get this 2100 sqft loft in chelsea, nyc for $2.5 mil. and hold on to the rest. ahhhh, to dream

[Rachael84]

Originally Posted by john_starks

i'd probably get this 2100 sqft loft in chelsea, nyc for $2.5 mil. and hold on to the rest. ahhhh, to dream

My mom had a chance to own something like that. My grandma owned an apartment in Chelsea up until the early 90s when she passed. The owner of the building wanted to make a loft with my grandma's apartment and the one next door. My parents would have been millionaires if they had gone through with it. I hope she doesn't read this because she'll be reminded of how much she regrets not doing that...lol.

[LSU Tiger Z71]

Its not enough to make me move or quit my job.. But I'd retire earlier.

1. Upgrade my home.
2. Pay off all debt.
3. Luxury Car (maserati, lambo, something like that)
4. Upgrade my cabin at the lake to a real home.
5. New boat
6. Vacations of a lifetime
7. One crazy thing: Like invite all my friends, pay for airfare, and really live it up in Vegas or something.
8. 5% to charity

I think this would use up a lot of it and just put the rest into savings and retire in about 10 years with good investments.

[JR_C]

I'd probably stay in Youngstown or move to Cleveland. Still close to family, but not close enough for them to get "needy." I could renovate a lot of houses with $5 million.

[Toxic Toast]

5 mil.........that isn't much.

I would do this:

1) eliminate all debt
2) buy a house near the one I live in now
3) buy a car
4) go on a vacation
5) invest the rest

[Rachael84]

I'd have an average house in the Las Vegas suburbs, a small apartment somewhere in the city, and keep the house I just recently bought on Long Island

[treedonkey]

Echo: $5 million isn't really all that much.

Besides, I don't gamble so if I somehow had a winning lottery ticket I'd just cut it up rather than profit off the losses of others.

But, hypothetically, if someone GAVE me that amount of money I would:

1) Pay off my house.
2) Pay up my 401k, permanent life insurance and health fund.
3) Put some money in a mutual fund or CD to match inflation.
4) Quit working and live a very simple life off the VUL and other interest until my 401K kicked in.

Actually I might not pay off the house, depending on whether or not it could work better as a tax shelter... probably not, even at 5%.

[Mooseketeer]

Smallish house in Maine ( fantastic coastline, laid back feel lots to see and do) , smallish house just North of San Francisco ( fantastic coastline, great architecture, vibrant city, lots of cultural events ) , smallish house in France ( South West or Brittany ) because they are wonderful parts of the world, and smallish house in Tuscany because Tuscany is simply fantastic ( history, food, culture, the arts , scenery..) .


I could then rent the houses I wasn't leaving in at the time making an income out of them.

I have never wanted a mansion or huge place. I would much prefer be able to move between smaller properties. I don't see the point of a huge house, there are only two of us , how many rooms can we use at one time...


Whatever was left I would spend on travelling around the world until the money ran out.

[tmac9wr]

When I read the OP, I figure the guy meant where would you want to have a $5M home? Not, what percentage would you invest in the bond market? haha.

If I had $5m to drop on a home, I'd move to Paris immediately. It's without a doubt the most gorgeous city on the planet. Best architecture in the world, dense, classy, top-notch mass transit, close to other beautiful cities (London, Monte Carlo), and lots of beautiful women . Imagine the tail you could pull back to a $5m condo/townhouse?