Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina > Raleigh, Durham, Chapel Hill, Cary
 [Register]
Raleigh, Durham, Chapel Hill, Cary The Triangle Area
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-26-2016, 01:20 PM
 
Location: Raleigh, NC
19,441 posts, read 27,844,220 times
Reputation: 36113

Advertisements

You're gonna lose 40.6% to taxes. Key Policy Data :: How Much Will Winning the HGTV 2016 Smart Home in Raleigh, North Carolina Cost You in Income Taxes?
Reply With Quote Quick reply to this message

 
Old 04-26-2016, 01:22 PM
 
Location: Richmond VA
6,885 posts, read 7,892,650 times
Reputation: 18214
I'd take the payout. No way I want to be bothered with upkeep on a place that large and that nice. I'd buy something that suited me better (that I could maintain on my own)

I like the layout and design just fine, except for the wall paper in that bedroom, that is awful. I would also need to clean up some of the 'clutter'. Decorative objects on end tables would get in the way of my piles of books.

Love the screened porch with the fireplace!

Those master bedroom skylights have motorized, electronically controlled shades.

I wouldn't keep the Benz either!
Reply With Quote Quick reply to this message
 
Old 04-26-2016, 01:31 PM
 
253 posts, read 236,474 times
Reputation: 308
I'd take the payout, mainly because I'd need the cash to pay the income taxes, as I don't have a spare 400k sitting around to send to the IRS. I was curious as to what prior winners have done and it seems like basically all of them have either taken the cash or sold the house after a fairly brief period because of the tax implications.
Reply With Quote Quick reply to this message
 
Old 04-26-2016, 01:55 PM
 
Location: My House
34,938 posts, read 36,264,326 times
Reputation: 26552
Quote:
Originally Posted by No2Monsanto View Post
Really? You thought it was small?? Maybe cuz I'm single with a 1 bedroom apartment at the moment, it seems spacious to me. lol.
When you have 5 people and 3 cats along with 3 cars and the need for a 4th vehicle in a house with 4/5 bedrooms, about that many baths, and a 3-car garage (out of need, given the number of people in this house and the need for home offices and so forth)...

Yep. That house seems small for my family's needs. If I had fewer people at home and I liked the layout (I am not keen on the layout), I think it'd be good, absolutely.
__________________
When in doubt, check it out: FAQ
Reply With Quote Quick reply to this message
 
Old 04-26-2016, 02:12 PM
 
Location: South Beach and DT Raleigh
13,966 posts, read 24,170,662 times
Reputation: 14762
If 60% of a huge amount of free money isn't good enough, I'll be glad to take that off your hands.
Reply With Quote Quick reply to this message
 
Old 04-26-2016, 03:30 PM
 
Location: My House
34,938 posts, read 36,264,326 times
Reputation: 26552
I'm pretty much used to a tax rate that high anyway. You know the government will have its hand out.



Still, I'd like roughly 59% of 850k.

That'd work.

I'd sell the Benz. After I drove it for a week or two, just for the hell of it. I enjoy driving those when we travel because I refuse to drive on unknown freeways without armor so we always rent Benz SUVs. I'd imagine a sedan could be just as fun, but I'm really more of an EV girl.
__________________
When in doubt, check it out: FAQ
Reply With Quote Quick reply to this message
 
Old 04-26-2016, 03:31 PM
 
Location: My House
34,938 posts, read 36,264,326 times
Reputation: 26552
Quote:
Originally Posted by georgiacat View Post
I'd take the payout, mainly because I'd need the cash to pay the income taxes, as I don't have a spare 400k sitting around to send to the IRS. I was curious as to what prior winners have done and it seems like basically all of them have either taken the cash or sold the house after a fairly brief period because of the tax implications.
Keeping the house is only good if you were already in the market for a house like it anyway.
__________________
When in doubt, check it out: FAQ
Reply With Quote Quick reply to this message
 
Old 04-26-2016, 03:46 PM
 
Location: Raleigh, NC
6,656 posts, read 5,592,274 times
Reputation: 5542
Don't forget about the property taxes too
Reply With Quote Quick reply to this message
 
Old 04-26-2016, 03:49 PM
 
390 posts, read 366,678 times
Reputation: 589
Even though we're looking to buy a home (admittedly Raleigh would be a poor location choice for us), I'd take the cash and use it to buy some land and build something I liked significantly more and possibly still have some left over.

Of all possible colors, why on earth would they make it beige?
Reply With Quote Quick reply to this message
 
Old 04-26-2016, 04:02 PM
 
Location: In the hot spot!
3,941 posts, read 6,727,785 times
Reputation: 4091
Yes I am entering twice a day like nearly 40 million others! This is MY year, though. How do I know? My right toe was itching! That's the money toe!
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:




Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina > Raleigh, Durham, Chapel Hill, Cary
Similar Threads
View detailed profiles of:

All times are GMT -6. The time now is 06:36 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top