The Truth About The HGTV Dream Home Giveaways

The Truth About The HGTV Dream Home Giveaways

Every year, millions of contestants enter
to win HGTV’s Dream Home, a stunning prize that includes designer digs, a car, sometimes
a boat, and hundreds of thousands in cash. On the outside, winning this fabulous million-dollar
prize package couldn’t look any sweeter, but behind the scenes, it’s not all breathtaking
views and waterfall countertops. Here’s the truth about the HGTV Dream Home
Giveaway. Settling down with Uncle Sam Everyone knows that when it comes to winning
a huge prize, the government will be waiting on its share. And winning the Dream Home is no different
something the network clearly states every year in the sweepstakes rules. According to Vocativ’s breakdown, the tax
liability on an HGTV prize worth about $1.7 million, is roughly $700,000. And that’s just for the feds. There are state and local income taxes, as
well as real estate taxes. So, what if you’re a winner who doesn’t have
a cool $700,000 lying around? You’ve got options! Take the money and run In 2018, Country Living reported the stats
on HGTV’s winner’s circle, writing, “Of the 21 people who’ve won Dream Homes over
the years, only six, or about 28 percent, actually lived in their home for more than
a year.” According to The Press Democrat, most winners
either took the cash option or sold the house to satisfy the tax burden, and then upgraded
closer to home. Kathy O’Dell did exactly that when she won
a sprawling Martha’s Vineyard charmer in 2015. She told her family couldn’t front
the nearly $1 million dollar tax bill on her prize package, so they took the cash option,
paid off their five kids’ student loans, and upgraded their family home. Not designed for eternity Spokespeople for HGTV have said on multiple
occasions that occupying the Dream House isn’t necessarily expected of the winners. Dream Home general manager Ron Feinbaum told
Country Living, “Winning one of these homes is life-changing
in that recipients either pick up their things and move or they suddenly have a large savings
account. […] The overarching theme is that, if you
win, it’s life-changing.” But even if HGTV’s endgame is a windfall of
cash, there’s a reason they build that house. Moving that product If you’re wondering why every other commercial
on HGTV is for Home Depot or Lowe’s, it’s all about sales…And making us think we can
easily gut-renovate our kitchens on a budget, by the end of the weekend. The HGTV Home Giveaway moves product because
it’s the perfect embodiment of this commercial ideal concept. And no one made this more clear than Burton
Jablin, the president of HGTV in 2005, when he told Business Wire, “Though only one person wins the home, every
HGTV viewer can take away ideas and inspiration […] that can help them turn their own homes
into the homes of their dreams.” The scoop on “winner’s weekend” Aside from landing more than $1 million in
cash and prizes, one of the big perks for HGTV Dream Home Giveaways is “Winner’s Weekend.” This is when the lucky new homeowners get
to visit the property for the first time, and the network pulls out all the stops. 2002 winner Milton O’Bryant described the
fun, telling The Balance Everyday, “You will eat the finest foods, visit the
area’s best attractions, and receive numerous gifts and keepsakes.” And sometimes you get even more surprises,
as 2005 winner Don Cruz told the mag he even met singer and actor Dwight Yoakam during
his winner’s weekend visit to Dallas. Paying it forward Though charitable contributions are a nice
offset to the huge tax liability of winning the Dream Home, some generous winners still
find it in their hearts to give back large portions of their prizes. Florida retirees, Cheryl and Joe Smith, won
a custom-designed Sonoma, California farmhouse in 2009. Not wanting to be far from their grandkids,
the Smiths decided to sell the property. But they also chose to donate the furnishings
worth a jaw-dropping $187,000, according to the Sonoma Valley Sun to the Ledson Harmony
Foundation, which serves underprivileged children. An HGTV win-win for everyone.

100 thoughts on “The Truth About The HGTV Dream Home Giveaways

  1. I wouldnโ€™t be surprised not many people lived in that house log or took the money and ran, They still have to pay taxes on it and that doesnโ€™t come at a cheap price. Especially an over 1 million dollar home, smh. Iโ€™d take the money and run too smh.

  2. HGTV definitely tries to make it seem very easy to upgrade a home – and it's often a lot harder They skip over contractor problems, foundation issues, etc

  3. I've entered twice a day online for the last and most recent sweepstakes and of course I probably didn't win, but I got my fingers crossed ๐Ÿคž

  4. It's the American way…will continue to enter if by some tiny minute strike of genius l won wud yse the cash portion to actually upgrade our existing home for total wheelchair accessibility for my best girl and l….we both watch HGTV and enjoy it…

  5. As a renter living in a tiny apartment with no backyard, I try for the HGTV homes.. I loved the one in New Mexico.. Somebody else who is not me won it..I just would like a bigger place with a backyard and some of the amenities I don't currently have..


  7. Same as Extreme Makeover Home Edition. Most if not all couldn't keep the houses. Taxes, electrical, AC, Heat etc all goes up and they cant afford it and have to sell.

  8. It's not that bad you guys. You can sell or you can take the cash version of the prize and still have some money you didn't have 5 seconds before you won to buy a house, vacation, car, whatever. I enter sweepstakes far more than I play the lottery because it costs me nothing if I don't win.

  9. Hey, You just won a dream home!! BUT you have to pay the taxes on it that you cannot afford so you really dont win!! Because even if you take the money and run, wait for it…. you still have to pay taxes.

  10. Oh GOD love to win one of these home be a FIRST TIME HOME OWNER. I would thank GOD for blessing. I would be truly greatful for GOD thinking of ME. 2nd step reached out to my attorney and accountant to help ME. I am NOT rich WOMAN but GOD guide me to make wise decision. I would have to SLEEP in house FIRST ๐Ÿ™Œ week. I run threw that HOUSE pray๐Ÿ™in every room. Oh , I throw a dinner party for FRIENDS who ride and died with me when, I did have NOTHING even sometimes did not WANT to ๐Ÿ‘‚ hear the TRUTH but told my ASS anyways.

  11. Al Sharpton owes millions in taxes and he doesn't have to pay his. So what's the big deal, just don't pay them like Race batter Al Sharpton does and he is not in Jail it's no biggie.

  12. The tax burden is to large especially considering what little we get for it. There should be exemptions for poor people who win homes.

  13. Is this not what we fought for in 1776? For big government not to unnecessarily tax all of it's citizens on absolutely everything just to fuel their own greed and grow their pockets?

  14. What? The government keeps the poor people poor? Whoever heard of such a thing? Next thing you'll tell me that politicians take bribes.

  15. Nicki Swift, I have
    entered a couple times No wins. But that's ALOT of money to give Auncle Sam
    ๐Ÿ˜ฌ to live in those
    Gorgeous Breath taking Homes.
    ๐Ÿ’ฐ๐Ÿ’ฐ๐Ÿ’ฐ๐Ÿš˜๐Ÿ˜๏ธ๐Ÿš๏ธ๐Ÿ .
    Happy New year 2019.

  16. For me I was a home owner and what a nightmare it became!! Every year you are hit with school and property taxes and then the maintenance costs to maintain the home AND the property are a never ending treat as well!! Then (if you are like me) you have a wife that thinks money grows on tress and can't seem to understand that you can't repair things WITHOUT items such has tools or materials, and though my wife is now my ex wife, she was so stupid to not understand things like "it takes more than drawing a rectangle on a piece of paper to create a deck from!"!!! In fact that was the last fight I had with her, because I kept telling her that we needed to figure out things like footers and dimensions and have detailed draws (blueprints) of the deck we wanted to build to give to the zoning office and she ignored ALL THAT to fight with me that "her deck" (which was a drawing she made of a simple rectangle on a piece of paper) was all we needed, completely ignorant to the fact there we were building the deck over a sewer system just a few feet from the house! So even a "dream home" is more like Nightmare on Elm Street in my view, and when her and I finally divorced we still owed almost $90,000 on a home that was just 8 years old! And in the end I sold the place off cheaper than what we paid for it, taking a major loss on it in the beginning of the recession of 2004 for just $20,000 and the new owners took over the rest of the house payments and I still lost even more paying the back taxes owed on it!! In the end I only got $8000 for the place making my experience a total nightmare, and if I had to do it again, there isn't one "home" that is worth ownership anymore, even though I do wish I had a more permanent place to call home even now!!! But you can't trust women anymore and if I won a HGTV dream home I would take the cash buy out on it instead of taking the home, because it would set my bills straight once and for all to do so, with enough extra to afford a new home someplace!!! After all I have been basically homeless in 2003 since I lot my home and was in the middle of the foreclosure battle with the bank on my house and land!! So in ALL THIS TIME (now in 2019) I am still paying for bills amassed since 2004 on that damn house, and I it has only gotten worse being my wife (now ex wife) thinks I still owe HER money on a home that was basically "never good enough for her" to live in!!!!!!!!! Like I say you can't trust most women, and if I owned a home tomorrow I would want to do it all alone without ANY woman's help, because to me women are totally worthless!!!! Which too is part of the reason I would take a cash buy out instead of living in the Dream Home giveaway!! I don't need a huge house and I would want a modest home with a spacious garage where I can finally work on all my business ideas instead!! Another constant source of fights between my wife (now ex wife) and I for the whole 14 year run of our totally worthless marriage and relationship!!!

  17. About a mile away from where I live is a Home Makeover house. They came and tore the old house down because it was full of black mold and the young daughter was very sick from it. They built an all new beautiful house. That house is standing empty with part of the yard dug up. Something to do with sewage flow. The house is up for sale. Property taxes on a brand new house are impossible even if both husband and wife both have good jobs.

  18. Why wouldn't you just sell the house to a trusted family member for something like 20,000… then your tax liability would be next to nothing.

  19. Rep. Alexandria Ocasio-Cortez wants to raise taxes on the rich, such as a prize winner, to 70% from 39%. Under her tax proposal, that $1.7M house will cost the winner $1.19M in federal taxes.

    Who thinks this is a good idea?

  20. If it's the Montana one they have for 2019, then I'd try to keep it but if the taxes are too much then I'd sell and build my own dream home with the money.

  21. Come on people. Do you seriously think you could afford the utility bills/yearly property taxes on these mansions even if you didnโ€™t pay taxes on the prize value?

  22. Wow!! I didn't know taxes would be so much, almost the same as the prize damn!! Government takes everything from us… If the winner decide to take the cash, how much would they be taking?

  23. The negative effects of the giveaway are not a problem with HGTV and their generosity. It's a problem with our over-reaching government and a well-known agency called the IRS.

  24. ๐ŸŽถ Take the money and run, like a thief across your neighbors yard… Take the ๐Ÿ’ต and ๐Ÿƒ ๐ŸŽถ

  25. Good going Democrats and those who allowed the Government to get so powerful that you cant own private property or win a prize. Dummies the lot of you.

  26. No offense intended, but I think everyone here misses the point. For the 99.9999% of us, it's not a question of taking the house or the cash. It's enter the contest and be bombarded with spam and robocalls, or not enter a contest we'll never win anyway.ย  I used to be the former; now I'm the latter.

  27. I think they should make the houses for a person who can pay the taxes. a rich person is not going to enter those contests, I say. We only enter what we really need or want money in cash. HGTV should think that the contestant can actually pay. They can make comfortable and not so expensive houses.

  28. It's hilarious how many people don't realize that OF COURSE you are responsible for the taxes. Folks, come on. Do the math on the property taxes…no WAY is the sponsor ever going to pay for that, lol. For the overwhelming majority of physical prizes, people convert them into cash. There are even third parties waiting in the fringes to offer exactly that, and at a fraction of actual value, for quick-turn-over profitable investments for themselves.

  29. Wonder exactly how much all of the fees and taxes are together and how long you can own it before owing all of that money??? If it has to be paid immediately how could anyone afford 700,000 or more with taxes and such???? Wow

  30. It's ALL staged!!! People stop supporting this mess if you are not rich. Just read the Bible or a good book. Maybe some movies… This get people to lust for what they will NEVER have. And while some will want to argue they will. Tell me that on your death bed in your run down house or apartment… Just saying…

  31. Iโ€™ll just take the money, save myself from paying 700k tax, and fully pay off a $500k-800k town house or condo

  32. If you ever win and you don't want to relocate if don't live in the area where the home is or have the means to keep up with the tax bill you do have the option to take the cash prize or accept the home and sell it to pay the taxes and do what you want with the cash from whichever decision you make.

  33. Give always are take always not gives. Pressure is place upon whoever in such a degree, that what was once thought, to be given, gets taken away when the heavy burden of taxes, cannot be payed. Jesus saw tax collectors as sinners. Spesific sexuality names and nude people, were called sinners, directing minds away from money hungry, tax collectors. Sweepstakes are as deceptive as Satan who invented money, through people. The world needs to do what Jesus taught before God, unknown to us, says, it is finished.

  34. Give aways,ย  are take aways, not gives.ย  Pressure is place upon whoever in such a degree, that what was once thought, to be given, gets taken away when the heavy burden of taxes, cannot be paid. Jesus saw tax collectors as sinners.ย  Spesific sexuality names and nude people, were called sinners, directing minds away from money hungry, tax collectors. Sweepstakes are as deceptive as Satan who invented money,ย  through people. The world needs to do what Jesus taught before God, unknown to us, says, it is finished.

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