Do you think that the taxes on the 2 million dollar HGTV Dream Home are so high that you hesitate to enter? If you won would you sell right away, or would you keep the house and try to find a way to make it work? Give your opinions here! Share Your Opinion
This chance would be Life Changing
- I'd accept the reality that keeping up with such a large and expensive home is beyond my means. Sadly, I'd have to sell it .. However, I'd be beyond grateful to finally have my own vehicle and the ability to purchase a home of my own for a better life for my children and myself.
- —Guest BrokeMom
Once in a liftime
- since I am 71, raised a large family, been on the poor side a time or two, just winning would be an answer to prayers, selling the home would have to be the option to choose, but the trip there would make it all worthwhile. There are more plus than minus with this Dream Home. The furnishings, money and the vehicle is a great bonus. May I get the chance to live this dream.
- —Guest Arizona wildflower
It would be a dream!
- It would be exciting to win. Of course there are taxes, but it would still be so exciting. I would enjoy it while the moment lasted. I would love to stay and live in it, but like most people I would have to sell it in the long run.
- —Guest Me
I'm going for it!
- I think that the chance to vacation in the dream home, keep the furnishings I like, get a new car, AND get the money when I sell the house is definitely worth the hassle of paying taxes!
- —Guest Julie
Reverse Mortgage
- How about a reverse mortgage wherein the bank purchases the property from you with the terms that they pay (and deduct) the first year taxes and figure the subsequent tax and insurance deductions into the amortization payments. Meanwhile you own and use the home for the duration of the mortgage and have an income.
- —Guest Richard
What a gift!
- I would love to win any prize then I would hand it over to my kids who have a much higher income than I do and I could live in the house with them!
- —Guest Gerriekay
mr
- Make as much money by listing the home then buy a 400k home in cash here in Texas after it sells. By the way that's alot of house and more affordable.
- —Guest Eric Carter
Take out a loan against the house
- I would check into taking out a loan for the cost of the Taxes owed against it. You could get low payment because the loan would be a lot less than the value of your house and maybe get a little more for the first year of property tax. Its worth trying. Good luck!
- —Guest Dollie
Make it a vacation rental.
- Fantastic home but not my dream house so here is what I would do. Make this a vacation rental property. Sundance would pay your tax/upkeep. Throw in ski season and you have some serious coin. Hopefuly zoning would not get in the way.
- —Guest Jim Graziani
Down Size!
- HGTV should choose to down size the prize that they offer. Most of us would be living in a "dream house" if it were a $200,000.00 home!And, why the vehicle? Just give away a "normal" house with nice furniture!!!
- —Guest Sharon
Blessings being kept
- Oh how it would be nice to give my three young children a place to call home..what's for you is for you and god told me that it's my time...I would keep it and make it work...the team put so much work into the home and I would not change a bit.. My way of keeping the home and paying the taxes is in gods hands because he the only one that can give and take away...and he said it's my time so he will handle that part and take all my families worries away
- —Guest Kee5
Truly a dream come true!
- I would be delighted to take all the prizes - the home, the $, and the car! Unless my tax-person says it would be foolish for me, I will run not walk to collect all! The location and furnishings of the home are perfect for me and my family. I can hardly wait for the winner to be announced. Good luck one and all!
- —NapaChef
Can't wait to be ambushed...
- While I have considered this question daily, because like many peole who already posted I am determined to win, I want the house. I want to quit my job and rebuild our lives. So tired of the rut we are in. Financially, winning this prize can be a burden. You get $500,000 but the taxes could be closer to $750,000. So sure you get a new home, but you win more debt. You could lose everything when a tax collector comes knocking. On top of all that I have read the HOA rules and there are rules that I don't really like, like only two vehicles and they have to be parked inside. No more than two pets (cats or dogs) no matter what, no building extra cover without their approval. No motorhome visitors...HOAs for those who want to live the life it looks to promise may find themselves in adversity. But even knowing all that, it would be the answer to my prayers, because good or bad, this win demands a life changing event. What a God send it would be.
- —Guest Brady Bunch
When I WIN the Home I plan to...
- Go to Utah and have a grand time! Then interview local agencies to see if i want to use this home as a vacation rental and have residual income or take the cash and pay off all my current obligations and live a debt free life. If the rental option would put me in further debt with no cash-flow I would definately take the cash option and live in the new found freedom of NO DEBT. Either way I begin living the dream.
- —Guest Jubilee
taxes
- I did forget to mention one thing. I am sure you pay in the state you currently reside in. This is the best part. I live in Wyoming. We do not have a state income tax or a gift tax or a luxury tax. This is so perfect for us. A true life changing event. I can't wait.
- —Fisherman60
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