What really happens to HGTV Dream Home winners?
The HGTV Dream Home prize is similar. If you win, you're hit with a heavy tax bill because the IRS treats you as if you had made an extra few million dollars of salary. And that's not all. If you choose to keep the house, it comes with its own costs.
What are the odds of winning HGTV Dream Home?
The 2021 HGTV Dream Home Sweepstakes had around 136 million entries. So your chance of winning is something like 1 in 137 million. Basically zero. Of course, that depends on how many entries you have. If you enter as often as you can for a whole year (there’s usually a 100 entry cap), that’s a 100 in 137 million chance to win! Still basically 0.
Who won the American Handyman on HGTV?
Peter Wong is the HGTV All American Handyman. Congratulations to Peter Wong who has won the title of All American Handyman on HGTV. We’ve been watching this show closely and although we may be critical at times we feel it’s going to catch on and each episode improved. We interviewed Andrew Kowalyshyn who made the top six but it was Peter Wong who came out on top after building the most structurally sound and inviting outdoor deck.
Does HGTV really give away a house?
In order to design each year's home in a way that respects and pays homage to its surroundings, HGTV uses locally-sourced materials, local artisans, and local vegetation in its landscaping. And when the house is completely done, HGTV just gives it away. What Do Dream Home Sweepstakes Winners Receive?
Have they picked a winner for HGTV Dream Home?
Karey Wolstenholm of Overland Park, Kansas, is the winner of the HGTV Dream Home 2022 sweepstakes, winning a home in Warren and grand prize package valued at over $2.4 million.
How are HGTV Dream Home winners notified?
How will you know if you've won? HGTV typically surprises their winners with an "ambush". They recruit friends and family to help set up a surprise announcement, and film the winners' reactions.
Who has won the HGTV Dream Home 2019?
Beverly FulkersonHGTV Dream Home 2019 Winner Ambush Congratulations to Beverly Fulkerson of Osgood, Indiana! She is our proud winner of the HGTV® Dream Home Giveaway 2019, a grand prize package valued at over $2.3 million.
Who won the 2022 HGTV home?
Congratulations to Leah Nadorff of Columbia, South Carolina; she is the winner of the HGTV® Smart Home 2022 sweepstakes, a grand prize package valued at over $1.2 million dollars.
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.
How do taxes work if you win the HGTV Dream Home?
If you're lucky enough to win an HGTV Dream Home, you'll be responsible for federal income taxes on the value of the property or improvements, plus state income tax, depending on your state of residence.
Who won the HGTV Smart Home 2021?
This year's HGTV Dream Home in Warren has an official owner. HGTV recently announced that the winner of the Scandinavian-style Mad River Valley home was Karey Wolstenholm of Overland Park, Kansas. She was chosen from more than 142 million entries, which HGTV said was the highest in the sweepstakes' history.
Who won the most recent HGTV Dream Home?
Karey WolstenholmDreams do come true. HGTV announced that Karey Wolstenholm of Overland Park is the winner of their “Dream Home” sweepstakes. The grand prize package she and her family will receive is valued at over $2.4 million.
What is the cash option for the 2022 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”).
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.
Has the HGTV Dream Home 2022 Winner been notified?
NEW YORK, April 21, 2022 /PRNewswire/ -- HGTV today announced the winner of the HGTV® Dream Home 2022 is Karey Wolstenholm of Overland Park, Kansas.
Who won the HGTV Dream Home 2021?
This year's HGTV Dream Home in Warren has an official owner. HGTV recently announced that the winner of the Scandinavian-style Mad River Valley home was Karey Wolstenholm of Overland Park, Kansas. She was chosen from more than 142 million entries, which HGTV said was the highest in the sweepstakes' history.
Where is the Dream Home on HGTV?
For the 2019 Dream Home, HGTV chose a mountain retreat in Whitefish, Montana. This house was built from scratch for the 2019 giveaway and designed by HGTV pro, Bryan Patrick Flynn.
What was the 2014 HGTV Dream Home?
The 2014 HGTV Dream Home Sweepstakes gave away a Yukon Denali vehicle, $250,000 cash, and a fully furnished home with panoramic views overlooking the Carson Range of mountains, not far from Lake Tahoe, California. For more details, see the 2014 Dream Home Giveaway .
Where is the second HGTV dream home?
The second HGTV Dream Home was located in Beaufort, South Carolina, one of the oldest communities in the state. The area is known for history and its deep Southern charm. That charm is reflected in the design of the Dream Home, which includes three elegant porches and a light and airy interior design.
What is a dream home?
The Dream Home was designed to bring the beauty of the outdoors into the house, with a huge open porch in the center, living quarters designed to be all on one level, and a recreation area downstairs. The upstairs level is devoted to spacious guest quarters as well as a library and a suspended walkway connecting the different sections of the house.
Where was the 1999 Dream Home built?
The 1999 HGTV Dream Home was built on the pristine beaches of Rosemary Beach, FL . The architecture of the surrounding area reflects the beautiful designs found in cities like New Orleans, Saint Augustine, and the Caribbean. The house includes unusual features like a roof that is custom-designed to keep the house cool despite the Florida heat and an outdoor room that is just as beautifully furnished as any of the interior areas.
Where is the 2020 Dream Home?
The 2020 HGTV Dream Home was a "charming coastal escape" in Hilton Head, South Carolina. It was designed, once again, by Bryan Patrick Flynn. This cozy home incorporated lots of island accents. As with most Dream Homes, its outdoor area was as beautiful as the indoors, featuring a pool, a grill area, and more. The home and its accompanying prizes are worth $2,000,000!
Who won the 2010 Dream Home sweepstakes?
Myra Lewis, winner of the 2010 Dream Home Sweepstakes. Image © HGTV, 2010, used with permission.
What is the Dream Home Giveaway?
Millions of contestants enter each year for the chance to win HGTV's Dream Home Giveaway, a stunning prize that includes a designer-curated home, a car, sometimes a boat, and hundreds of thousands in cash. The sweepstakes began in 1997 with a gorgeous log cabin that was imported from Finland and reassembled atop a vista overlooking the Grand Tetons in Jackson Hole, Wyo. Two decades later, the homes have spanned the entire United States, ranging from breathtaking ocean-side villas, to jaw-dropping mountain retreats, to classic country manors.
What does winning a dream home mean?
Speaking with the Pittsburgh Post-Gazette, HGTV spokesperson Emily Yarborough said, "Our vision of the dream is that it enables you to do what you want to do." In more specific terms, 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." He added, "The outcome depends on the individual winner but the overarching theme is that, if you win, it's life-changing.
Why is there a Home Depot commercial on HGTV?
There's a reason every other commercial on HGTV is for Home Depot or Lowe's, and it's not because those home improvement giants think the Property Brothers are super dreamy. It's because every single program on that network is designed to hypnotize the home viewer into thinking a DIY bathroom remodel is a piece of cake, or that if you put $10,000 into a renovation, you'll get back $100,000 in return.
Why did Tina Carlson sell her house?
That was Tina Carlson, the 1998 winner, who sold her coastal South Carolina bungalow after "her parents got too old to travel and couldn't come as often as they'd like," according to HGTV spokesman Emily Yarborough, who spoke with The Press Democrat. Most other winners followed a similar path of either taking the cash option or selling the house in order to satisfy the tax burden and recreate a "mini Dream Home" closer to their family roots.
Where did Dee sell her house?
Like most winners, Dee, an Iowa resident, quickly sold the Islamorada, Fla. beach house she had won. "We pretty much knew that was the case right when they walked in and told us," Dee's husband, Tommy, told the Twin Cities Pioneer Press.
Can you win a Smart Home Giveaway?
Speaking of those sponsors, one interesting factoid we came across in the Smart Home Giveaway rules was that basically anyone associated with any of the brands featured in the sweepstakes is ineligible to win. The rules list the corporate sponsors and even bar "employees and members of their households, whether or not related, and immediate families (spouses, parents, siblings, children and each of their respective spouses regardless of where they reside)."
Who will be your first houseguest?
Uncle Sam will be your first houseguest. HGTV. Everyone knows that with a huge cash prize like the lottery, the government will be waiting with its hand out. Winning HGTV's Dream Home Giveaway is no different. In fact, the television network spells this out clearly in the sweepstakes rules for its Smart Home Giveaway, ...
Who won the 2016 HGTV Dream Home?
2016 HGTV Dream Home winner David Rennie (red shirt) with wife, Meg, daughters Carolyn (right) and Kate Carberry (second from left), and son-in-law Ken Carberry at the Merritt Island, Florida, home.
How much is the dream home?
The Dream Home grand prize—typically $250,000 in cash, a car, and sometimes a boat, in addition to the home itself, usually valued at $1 million or more—comes with a federal income-tax bill of about $700,000, according to an analysis by Vocativ, plus state income and real-estate taxes that vary by location. The cash alternative, on the other hand, ...
How long is Dream Home sweepstakes?
Dream Home sweeps are typically open to entries for a period of seven weeks during which contestants can enter for a chance to win twice daily. Previous winners say maxing out entries was integral to their success. “I entered twice a day religiously,” says 2017 Smart Home winner Stacy Bolder.
What is a winner's weekend?
Winner’s Weekend, as it’s called, includes an inaugural tour of the house, where the interior designer explains the thought process behind the paint choices, furniture, and other fixtures.
How many people have won Dream Homes?
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. The vast majority either took the cash alternative or sold the house back to the developer within a year of winning.
Who is the third person to everwin a dream home?
The third person to everwin a Dream Home, Belinda Brown of Kingston, Tennessee, tried to rent out her Rosemary Beach, Florida, retreat to cover the cost of taxes but ended up owing the IRS almost $300,000. She sold it after 2 years.
Did the Rennies get their dream house?
But that’s not to say the Rennies didn’t get their dream house. They used their winnings to remodel the home they already have, incorporating design elements they’d seen in the HGTV model, including blue penny tile in the bathroom, a basket-weave backsplash in their completely redone kitchen, and prints of the original artwork on display in the Merritt Island home.
