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Readers Respond: How Would You Pay the Taxes on the HGTV Dream Home?

Responses: 428

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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

Would love it ..

Lost our home 4 yrs ago ...Renting now . Would love chance to win ....have a new , fresh start!!!!!!
—Guest kris

more than life changing

Winning this home would be an answer to my many prayers I have had about living in a beautiful home among the trees. I can only imagine how it would be since my whole life has been worry and stress and trying to make due. I try to imagine by looking at the video of living there and waking up among the trees...one can only imagine and dream! Maybe in heaven...?
—Guest adam

financing it,

Simply finance it Andrew put the money in a seperate savings account and pull your interest out every month and save the interest off there money to pay your taxes.plus if you take a second out on you own property it pits you in a much more affordable tax bracket buying versus owning you pay a lot more annualy and all around higher taxes on your hole bracket vrs.still owing you get incentives plus many government incentives to continue your purchase and many brakes other people don't get when they paid off a home..but I my self have never owned a home but could definatly reap the rewards of owning one and can easily learn in advance all needed to keep one don't matter what kinda blessing got it for me..thanks for you're time..
—Guest Michael j.Fleming

Taxes could ruin the Dream

I would have loved to win the Home GMC, and 250.000K cash but the taxes would have destroyed the dream of living there. I would have had to sell, and i would not take the personal property, its what made the dream house ( the interior design) and would help it sell faster, so my dream would have actually become a nightmare. I never thought of all of the taxes you would be responsible for, so why dont they build a dream home where 56 winners could spend 1 week a year like a vacation spot, then the dream home would not just benefit i helpless person but give 56 people the honor of enjoying the home, Split the taxes 56 ways making it much more affordable to pay the taxes.
—Guest Jean Lorence

Nobody Can Pay Those Taxes

I read the Cruz story and couldn't imagine how they ever thought running a B&B and renting a boathouse were going to enable them to pay $650,000 in income tax the following year. That would be one heck of a successful B&B. No one who enters these contests could possibly ever hope to pay the taxes on the prize, selling the house or just not taking it and taking the cash in lieu of price is really the only option for all of us not in the Fortune 500.
—Guest 2014 Expectant Winner

If I won the HGTV Dream Home

If I were to win this dream home, all of my prayers for my family and I would come true. Whomever wins will truly be blessed. Even though the taxes would be an exorbitant amount, you are given an opportunity to have something that only most can dream of. For even just one minute of owning this beautiful home, that minute would make me smile for the rest of my life...If I were to win, that is precisely what I would do. Just simply be happy and share the happiness with everyoneI love:)
—Guest TenJo

Prize and Taxes

First off the winner only gets $250,000 in cash plus the house and car. The total prize package is $2 million. I would just use the cash to pay some of the taxes and take out a Mortgage for the rest. It would be a great vacation home until I retire. I could then sell my current home and pay the house off.
—Guest subzero

taxes

I would try to keep the house if I could, I would rent it out to pay tax's
—mango.karen

Keep, taxes paid

I see why HGTV is not offering to pay the taxes! The main purpose of this contest is giving someone their dream home! But, I think they should offer to pay, if winner elects to keep the home. If your sole purpose to obtain this home is to receive money or make some king of benefit off of it, I say pay the taxes on it too!
—Guest Michelle

Veterans dream

A disabled vets dream ! Disabled veterans get a well earned abatement on taxes . Then share with other veterans and rent rooms out.
—Guest Dennis

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How Would You Pay the Taxes on the HGTV Dream Home?

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