Do Dream Home Winners Keep The House 2?

What really happens when you win the HGTV Dream Home?

Each year’s HGTV Dream Home Sweepstakes winner receives the home itself, all of the artwork and furnishings inside the home, a big cash prize, and a new vehicle. Sometimes, additional prizes, like a doggie dream homefor pets or a new boat for waterfront properties, are also included.

What is the cash option for the 2022 HGTV Dream Home?

Cash Option: In lieu of taking title to the HGTV Dream Home 2022 (and the contents of the HGTV Dream Home 2022), the Grand Prize Winner will have the option of receiving $750,000 in cash. Total ARV of the Grand Prize is $1,111,370 if Grand Prize Winner selects the Cash Option in lieu.

Do people actually live in the HGTV Dream Home?

As of January 2021, only six of the first twenty-one sweepstakes winners were able to live in their Dream Home for longer than a year.

Who won the 2022 HGTV Dream house?

Karey Wolstenholm
A huge congratulations to Karey Wolstenholm of Overland Park, KS! She is the winner of the HGTV® Dream Home 2022 sweepstakes, a grand prize package valued at over $2.4 million.

How much taxes would you pay if you won the HGTV Dream Home?

According to a report from CNBC, 2019 winner Beverly Fulkerson won a $2.3 million prize package that included a “Dream Home” in Montana. But the estimated tax bill would come up a staggering $789,140.

Has any HGTV Dream Home winners kept the house?

And, it seems the winners don’t even get to enjoy their dream digs for very long. Country Living reported that by 2018, with over 20 HGTV Dream Home winners crowned, only 28% of the winners actually lived in the home for over a year.

How much taxes do you have to pay if you win the HGTV Dream Home?

Santo said the winner also has to pay income tax. According to HGTV, the grand prize includes the fully furnished house, plus $50,000 cash, valued at a total of about $684,000. Santo says the winner will be taxed at the top federal rate of 37 percent. Add on state taxes, and they’ll owe between $238,000 – $266,000.

Can you take a cash option if you win the HGTV Dream Home?

In lieu of taking title to the HGTV Dream Home 2022 (and the contents of the HGTV Dream Home 2022), the Grand Prize Winner will have the option of receiving $750,000 in cash (the “Cash Option”).

How much do you pay in taxes if you win the HGTV Dream Home?

Santo said the winner also has to pay income tax. According to HGTV, the grand prize includes the fully furnished house, plus $50,000 cash, valued at a total of about $684,000. Santo says the winner will be taxed at the top federal rate of 37 percent. Add on state taxes, and they’ll owe between $238,000 – $266,000.

Can you afford to keep the HGTV Dream Home?

The HGTV Dream Home is one of the most anticipated reveals of the entire year. Every fall, the network announces a new location for this fantasy property and then encourages viewers to enter for their chance to win.

How much do you pay in taxes if you win HGTV Dream Home?

Santo said the winner also has to pay income tax. According to HGTV, the grand prize includes the fully furnished house, plus $50,000 cash, valued at a total of about $684,000. Santo says the winner will be taxed at the top federal rate of 37 percent. Add on state taxes, and they’ll owe between $238,000 – $266,000.

Where is the 2023 HGTV Dream Home located?

“The backyard is an entertainer’s dream with a beautiful pool and pergola, a fire pit, as well as a back deck with multiple seating areas and an outdoor kitchen,” HGTV said in its news release about the house, located along the Cape Fear River in the Castle Hayne area.

Is there a cash option for the HGTV Dream Home?

In lieu of taking title to the HGTV Smart Home 2022® (and the contents of the HGTV Smart Home 2022®), the Grand Prize Winner will have the option of receiving $600,000 in cash, awarded in the form of an electronic funds transfer (the “Cash Option”).

Does the HGTV Dream Home come furnished?

Host Breegan Jane and Designer Brian Patrick Flynn pull inspiration from Vermont’s beautiful mountains to create a luxury cabin for skiers, hikers and nature lovers. This fully furnished home, SUV and $250,000 will all be given away to one lucky winner!

How much would taxes be on HGTV dream home?

Santo said the winner also has to pay income tax. According to HGTV, the grand prize includes the fully furnished house, plus $50,000 cash, valued at a total of about $684,000. Santo says the winner will be taxed at the top federal rate of 37 percent. Add on state taxes, and they’ll owe between $238,000 – $266,000.