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HGTV Lottery Dream Home

Topic closed. 15 replies. Last post 1 year ago by lulu1feather.

Page 2 of 2
lulu1feather's avatar - 2uehclf
United States
Member #168137
August 17, 2015
131 Posts
Posted: February 7, 2016, 12:33 pm - IP Logged

I saw this one.  Struck me as highly improbable. 

They won $1Mil, no mention of taxes, etc.  In fact the host complimented the couple on "only" spending $800K of their win and being smart enough to put aside $200K for other expenses.

They would have taken home about $600K, so they were already putting $225K of their own money into the house, or taking out a second mortgage.  No mention of property taxes on Gulf Front property, which I imagine are pretty high.  Also security and house insurance would be a major expense with hurricane risk, house standing empty most of the time. 

'Course, she was an M.D., (he was a stay-at-home Dad) so I guess they could afford the extra expense. 

It was also just a vacation home for them. They must have been doing alright beforehand! Their everyday house was already pretty nice!

I was thinking the same thing about the amount, and how much they were spending!

Im not any good at math, (I play PB & MM and still think I TOTALLY have a chance, hahaha) but that numbers didn't make much sense to me either. There had to be taxes taken out somewhere! I just figured they had money for a vacation home already saved, or that they didn't mind using whatever they did get (after taxes), and still having a mortgage payment. They probably could have still put down a hefty down payment.