apartment therapy changing the world, one room at a time

They do this a lot in my town, usually to benefit United Way or the Miracle Network, but the houses are always McMansions out in the burbs and $100-150 is a lot for me to drop on charity at one time. So, no, I've never participated.

I would love to--I dream of living in Marin, especially during our long, cold Minnesota winters. But I'd hesitate because:
1.) the taxes are probably more than our current mortgage; 2.) I'd go broke furnishing it.

I *always* buy into the Dream Home Lotteries and usually love the homes they put together for these causes. McMansion or not, it's a frickin' brand new, professionally decorated FREE HOUSE. Hello.

Yes I would but I would take the the money. Too much house for my taste. I always think of the time spent cleaning, cost of maintaining and it doesn't seem worth it unless I can afford to hire at least a full-time maid and a part time gardener.

Wow, I don't care for that house at all, but I might be able to get past that for that incredible view (or the $1.6mil). So sure, I'd buy one, why not?

As LSUgrad mentioned, they do this in my old hometown too, about every other year, but the house (usually a nice, mid-sized, brick ranch) is built by high-schoolers as part of the curriculum of several classes. The tickets always sell out, and somebody wins a $200k-$250k home!

Don't forget you have to pay taxes on the the house and they do not give you that much time to do so. I saw a show on TV about someone that won a home like this and it has turned into a huge burden for her, because if she does not sell the home she will not have the money to pay the taxes.

I'd participate if they were going to pay my taxes and heating/cooling bills for life as well. Otherwise, no thank you.

Too much house for me. When are we going to get past the 1000 s/f per person mentality? The view is nice, but for almost 2 million, I wouldn't want to look down at the road, I would want an unobstructed water view. I guess this economy has not taught us anything.....

Oh, one more thing I thought of. The show also talked about that the only reason why a nonprofit organization was involved is because legally to do a raffle type situation like this the homeowners themselves can not do it, so they partner with an organization that is willing to help and do so. I am not saying it is a scam because it is not. All parties get what they want. The home owner gets rid of a house they need to sell, the charity gets face time and someone wins a home. You just have to be willing to realize what "winning" means and know that nothing is for free.

I can honestly say I would never want to live in a house that large. Such a waste. Factor in furnishings, heating/cooling, maint. costs and its definately no!

$1.6MM in cash - I wouldn't take the house...
...I'd have to sell it to pay the taxes, and in this economy I might end up losing money on the deal!

(I wonder tho if the cash prize is contingent upon the sale of the house?)

The Super Lotto jackpot is 20 million. Only $1 per ticket. 34% of the money goes to public education.

Modernguy, show me a $20 million super lotto that has a $1 per ticket price point and also has odds of 1 in 37,000...and I'll buy as many dollar tickets as they can print.

I don't buy tickets, mostly because I would never want to live in the houses that are featured. Not just because they're too big and the taxes and utilities would be too high, but where I live the house to be won is always way the hell out in the middle of Boonie Town or Redneck City.

I'd take the cash and build a more modest home specific to my needs and wants....with $$$$ to spare.

I'd take the money and invest it.

This house has great views which I could enjoy all day long. But if I won I would have to take the money because I couldn't afford the taxes.

Why do the photos of these houses all seem creepily photoshopped to beyond perfection?

Horrible house, too bad because what a great location.

amusememusically,

For 20 million vs 1.6 million, you have to know that the odds would be greater and if you bought 150 tickets, that would decrease the odds substantially.

Either way, it just comes down to luck whatever option you choose. :-)

I grew up in Marin....where are the needy people again?

Would the raffle tix be tax deductible in this scenario? Essentially it would be considered a charitable donation...

That aside, no, I would not buy into the raffle. At least not if I wanted to live in the house. With taxes, it would probably be difficult to make that pencil out.

If the circumstances were right, you might do well selling it. But that is only if the circumstances and timing were right.

Just to put this into perspective... I think all of the HGTV Dream Home winners have had to sell the homes in order to pay the taxes. Here's an interesting link analyzing that scenario:

http://contests.about.com/b/2009/01/02/could-you-afford-the-taxes-on-the-hgtv-dream-home.htm

Oh, and that is one ugly McMansion!

Ha, I totally forgot that I did buy one of these tickets last year on a trip to California. I never heard of anyone doing this around where I live.

The house I bought a ticket for was IN San Francisco and was very nice. But I guess if I had won I would have heard by now, huh?

Common in Canada - Princess Margaret and a number of other hospitals do them, especially. I've never had the cash to drop on them, but they certainly are attractive.

I might do a raffle but not for this house. I once had a sloping back garden like this.