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Post Info TOPIC: HGTV Dream home


Nothing's Impossible

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HGTV Dream home
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Has anyone registered to win it? I haven't but I may put my name in once. I am a bit curious on what the annual taxes are on a house that's over $2,000,000 in Martha's Vineyard. I would have to take the cash option prize. I doubt my annual take home pay is even enough to pay the taxes on that house. 



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Frozen Sucks!

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Southern_Belle wrote:

Has anyone registered to win it? I haven't but I may put my name in once. I am a bit curious on what the annual taxes are on a house that's over $2,000,000 in Martha's Vineyard. I would have to take the cash option prize. I doubt my annual take home pay is even enough to pay the taxes on that house. 


 I haven't registered, probably should.  You are right about the taxes.  The property tax is probably upwards of 20K/year.



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Nothing's Impossible

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We were watching house hunters one day and they were in the Hamptons and the taxes were $30,000 or more a year on a million dollar house.

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Mod/Penguin lover/Princess!

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I don't think anyone who has won it, has been able to keep it.

The taxes are crushing.

My sister read an article, a few years ago, and it said, everyone ends up selling it.

They can't afford to keep it.cry



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Guru

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The cash option is $1.7 million. I'm good with that.



-- Edited by voiceofreason on Sunday 8th of February 2015 07:36:52 PM

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Nothing's Impossible

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A few years ago they built a dream home near Hilton Head. They had tours before the drawing, but it was $20 a head just to get inside. The community was supposed to be this grand self sustained community. The whole development tanked. There were maybe a dozen homes there out of thousands proposed. I bet the value went down 50% or more after the person won it. One of the nurses lived there, it was her parents'. I went to a party there once. It was so weird, it was like a huge empty ghost town. It was a good party because we could be as loud as we wanted since there were no neighbors. We played cornhole in the middle of the street for hours and no one ever came by.



-- Edited by Southern_Belle on Sunday 8th of February 2015 07:42:28 PM

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On the bright side...... Christmas is coming! (Mod)

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There's a cash option? That's a nice change. I might take the house, though, to vacation in at least once and then sell it. And I can't help but think that house on Martha's Vineyard would sell for way more than 1.7 million.

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Itty bitty's Grammy

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Southern_Belle wrote:

A few years ago they built a dream home near Hilton Head. They had tours before the drawing, but it was $20 a head just to get inside. The community was supposed to be this grand self sustained community. The whole development tanked. There were maybe a dozen homes there out of thousands proposed. I bet the value went down 50% or more after the person won it. One of the nurses lived there, it was her parents'. I went to a party there once. It was so weird, it was like a huge empty ghost town. It was a good party because we could be as loud as we wanted since there were no neighbors. We played cornhole in the middle of the street for hours and no one ever came by.



-- Edited by Southern_Belle on Sunday 8th of February 2015 07:42:28 PM


Do you remember what side of the island?

flan 



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Nothing's Impossible

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It was near Hilton Head. Probably not even in Bluffton. It was Traditions until it tanked. Now it's hilton lakes.

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FNW


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I registered and they said my email address had already registered. Someone put me in for it, apparently.

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Nothing's Impossible

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Strange!

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My spirit animal is a pink flamingo.

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I would try to stay in once but I would have to sell it.



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I would take the cash option. Sure it is less than the homes value, but I wouldn't want to risk the house not being an easy sale, and being stuck with it for awhile.

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Oh, I saw it last night. That'll sell. Big money on the Vineyard. I have clients that fly there own planes there. That house is to die for!

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On the bright side...... Christmas is coming! (Mod)

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I would want the house so I could take the furniture I like! It comes fully furnished with designer stuff! Sell the house, keep the stuff!

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Cash option for me.

I would not have the money to pay the income tax on the winnings.

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Lawyerlady wrote:

I would want the house so I could take the furniture I like! It comes fully furnished with designer stuff! Sell the house, keep the stuff!


Oh, winning idea! 



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We would like to eventually be part of the tiny home community. I don't find big houses appealing. Plus, I have to go through every room, every closet, look under every bed & behind every shower curtain before I go to bed. You never know if someone is hiding and waiting to kill you in your sleep. It would take me two hours to go through a home of that size!

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On the bright side...... Christmas is coming! (Mod)

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The way I see it - you immediately put the house on the market. You go vacation there a couple of times. You keep the furnishings you like and auction of the rest or sell it with the house.

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LawyerLady

 

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On the bright side...... Christmas is coming! (Mod)

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You also get a Denali and $250,000 cash.

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LawyerLady

 

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Itty bitty's Grammy

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voiceofreason wrote:

We would like to eventually be part of the tiny home community. I don't find big houses appealing. Plus, I have to go through every room, every closet, look under every bed & behind every shower curtain before I go to bed. You never know if someone is hiding and waiting to kill you in your sleep. It would take me two hours to go through a home of that size!


 When I was younger, I had to check every window & door before I went to bed. Dad always worked second or third shift.

flan



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