Thursday, January 23, 2020

The Untold Truth Of HGTV's My Lottery Dream Home

Kathy used her winnings to pay off debt and buy a home closer to her family in Alabama. The coastal farmhouse located in St. Simon's Island, Georgia seemed perfect for 2017 HGTV Dream Home winner Anna Spangler and her husband. But after the show, it seems the couple opted for the cash payout of $1 million. They left behind the $1.4 Million house, however, there's no record for just how much the house sold for after the show aired. This year's home was a cozy, costal escape in Hilton Head, South Carolina. Susan and her family coincidentally summer in Hilton Head, so the prize was perfect for them.

Flynn specializes in residential interiors, working with quirky color palettes and winter wonderland escapes, making for the perfect combination in the active mountain town of Whitefish. His vision for the 2019 Dream Home embraced Montana’s spirit of outdoor adventure. The color palette he envisioned was beautiful earthy tones, burnt orange or rust, and lots of blue and gray to reflect the beautiful blue sky that engulfs the Big Sky state. The result was a mountain escape paying perfect homage to the natural energy of Montana. With an uncomplicated door style, modern cabinets make any space seem clean and orderly. The latest lucky winner of cable network HGTV's Dream Home 2019 contest is Beverly Fulkerson, a former preschool teacher from Osgood, Indiana.

HGTV Magazine Jan/Feb 2019 Dream Home Super style DIY decorating Color

It seems Karey and her family made their way to Vermont and are currently living in the $2.4 million home. They even get to keep the furniture free of cost, unlike some other HGTV shows. The lucky winner also received a 2022 Jeep Wrangler and $250,000 from Rocket Mortgage. The designer on the home was Brian Patrick Flynn, who has also worked on HGTV’s Urban Oasis 2018 and Dream Home 2018.

hgtv dream home taxes 2019

"We are also very pleased with our townhomes ... and wouldn't miss the chance to give a tour to a national audience." As viewers quickly recognized, Bromstad was ideally suited to shepherd these suddenly wealthy winners through the process. "When it comes to spending a million bucks, I'm your man," quipped Bromstad in an HGTV press release. "Six numbers change these winners' lives forever, and I live for taking them on the search of a lifetime to find their dream home." Rather than accepting the keys to the million-dollar Martha’s Vineyard home, she went for the cash prize.

The host of HGTV's My Lottery Dream Home has some advice for lottery winners

When she's not watching reality tv, you can find her cuddled up with her puppy Norm by the pool, enjoying the latest NYTimes fiction best seller. The insane taxes that come with owning a multimillion-dollar property seem to be what stops nearly every HGTV Dream Home winner from accepting the house. This year's home was located in Vermont, a gorgeous and modernized cabin that sat among the tree line.

hgtv dream home taxes 2019

The three-bedroom house, which HGTV describes as "mountain modern," includes a floor-to-ceiling windows and an outdoor patio with a fireplace and hot tub. The IRS requires ALSAC/ St. Judeto collect the taxes before the transfer of property. Winners will be issued 1099s for the fair market or appraised value of the prizes they win. Rachel Stults is the managing editor at Realtor.com and co-host of the Realtor.com podcast "House Party." She covers all things real estate, including buying, selling, home decor, renting, moving, and more. Don Cruz, the winner of the 2005 Dream Home, moved down to Tyler, Texas from Illinois to enjoy his new property.

Seller information

And that is likely why so many of the Dream Home contest's previous winners have either sold their prize home or opted for the lump cash option in the first place. Of the four winners in 2017, three of them chose to go with the cash prize. Other winners, like teacher Stacy Bolder, have taken the cash from her Smart Home Grand Prize to invest in retirement accounts, pay off debts, purchase homes in their chosen location, and to create college funds for their children.

hgtv dream home taxes 2019

The most surprising thing Bromstad has learned from fulfilling winners' requests is how many of them look for homes near family members. "A house could be in the middle of nowhere, and they always stay close to family. That was something that really surprised me. It's all about family." This handsome mountain hideaway nestled in the pines of Whitefish, Montana, showcases our beautiful modern cabinets in cozy, contemporary style. This year’s HGTV Dream Home is a handsome mountain hideaway nestled in the pines of Whitefish Montana. Cabinets To Go is excited to showcase our beautiful modern cabinets in such a beautiful home.

A 2019 episode of HGTV'sMy Lottery Dream Homefocused on a man named Michael, who won $100,000 from a scratch-off ticket — and then five weeks later won $750,000 on the lotto. With that kind of luck, it was a no-brainer that the show's producers immediately put Michael on speed-dial. Emily Muniz is a veteran HGTV viewer, so when she won 2018’s Dream Home contest, she knew all the right questions to ask prior to deciding between the cash or the lavish pacific northwest home that was being offered to her. The layout of the 2019 Dream Home was designed by the local architecture firm Timber Forge, known for designing unique homes that are functional and distinctive.

While the company surely wants people to accept the house, they definitely don't go to sleep feeling bad after handing off those big checks to the winners. The modern cabinets chosen for the 2019 HGTV Dream Home, with their vertical texturing to add a touch of complexity, make the open concept space seem orderly while allowing décor to truly shine. The perimeter counters are made to look like concrete and seamlessly tie the contrasting colors of the room together. The kitchen opens into the living room, featuring bold orange couches that stand out against the two-tone black and white kitchen. Congratulations to Susan O’Gorman of Perry, Georgia; she is the winner of the HGTV® Dream Home 2020 sweepstakes, a grand prize package valued at over $2 million dollars.

Host David Bromstad revealed the weirdest request on HGTV's My Lottery Dream Home

Perhaps the biggest cautionary tale is Don Cruz, winner of a Dream Home in Lake Tyler, Texas. When he accepted the prize in 2005, he uprooted his family from their home in Illinois and moved into the 5,000 square foot house with the intention of turning it into a B&B. It turned out, though, that he didn’t actually own the land—he just had a 30-year lease on it—and local regulations forbid him from operating any kind of business on it. He initially took out a mortgage to pay the taxes and expenses, but had to use that money to pay for cancer treatments for his father and his wife. He fell behind on payments for that mortgage and ended up some $430,000 in debt.

hgtv dream home taxes 2019

And, that's not even including the additional state income taxes, which Wolters Kluwer senior state income tax writer and analyst Tim Bjur estimates would be a little more than $105,937 in Fulkerson's home state of Indiana. Fulkerson would also likely face local property taxes on her new Montana home of more than $12,600 annually, according to Wolters Kluwer senior state tax writer and analyst Bernita Ferdinand. Fulkerson's name was picked out of almost 135 million entries to land the 3,650-square-foot house located in a Rocky Mountain resort town that features skiing and a lake near Glacier National Park.

In fact, more than 23.2 million total viewers watched the show that year, which was more than ever before. There have been over 20 HGTV Dream Home winners, here's what happened to them and whether they're still living in the homes they won. We love the industrial details that provide the perfect finish to this kitchen. A beautiful industrial gas stove framed by a large stainless steel hood vent is balanced out by bulky hanging lights above the eat-in island. Cool and contemporary, Metro Slate modern cabinets are versatile and will pair well with any space or décor.

hgtv dream home taxes 2019

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