HGTV's 2008 Dream Home: The Florida Keys Giveaway

This could all be yours! HGTV's annual Dream Home sweepstakes is in full swing. This year, the designer property is located in the Florida Keys. Jump down for more photos (and details) of the $2.2 million dollar prize package.

The house itself is a 3-story, 3-bedroom, fully-furnished giant situated right on along the coastline. The winner will also receive a matching Doggy Dream Home and a 2008 GMC Yukon. You can enter the contest once a day up until Feb. 19th and the winner will be notified in the middle of March. Are you going to try for it?

We're always a bit skeptical of these kinds of sweepstakes. The winner may win the (purchase price of the) house with no strings attached but few people think about the immediate and exorbitant taxes, the utility cost of maintaining a house this size, and all the other less-glamorous but expensive details that go along with homeownership.

But don't let us talk you out of it! Take a tour of the home and, if it truly is your dream, go for it. If you win, you could always sell off the gas-guzzling Yukon and clear out much of the Ethan Allen explosion going on inside.

Photo credit: All photos from HGTV.com

Comments (7)

This house is really boring, sadly.

posted by elizabet on January 28th 2008 at 8:00am
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I have to agree with elizabet. Compared to that house they did in the North Carolina mountains (I think it was last year), this is kind of a bore. I heard that none of the winners so far have been able to afford to keep the houses, and they've all held onto them for just a few weeks before selling.

posted by duckumu on January 28th 2008 at 8:29am
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Why haven't any of them tried to turn them into B&B's or even vacation rentals. If I won the house, that is exactly what I would do.

posted by wwoolsey on January 28th 2008 at 8:55am
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My apologies - I just realized that the GMC Yukon is a HYBRID. My "gas guzzling" assumption is only half true.

posted by jessica on January 28th 2008 at 9:07am
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Hope that house is hurricane-proof.

I suspect none of the houses have been turned into vacation rentals or B&B's because of the tax liability and how quickly the taxes must be paid after winning. It would probably be very difficult to make that conversion unless you can take out a loan to pay the taxes then pay it off over time. If you're like many of the people who have won the houses, of moderate means living on the opposite side of the country, monitoring and upkeep are even more burdensome. If you don't have the financial means, your basic option is to sell and hopefully not at a significant discount.

posted by John H on January 28th 2008 at 9:41am
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I think that a lot of them have been in neighborhoods where you aren't allowed to rent them out or turn them into B&B's.

This contest just makes me sad, to be honest. It's ridiculously extravagant, and the winner never really gets to enjoy the "prize".

posted by J. Cipa on January 28th 2008 at 12:48pm
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I like this, designer property which is located in the Florida Keys. I would love to have it.

------------------

Allan

Fort Lauderdale homes for sale

posted by allan2 on May 26th 2009 at 1:06am
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