If you won the HGTV Dream House

[infomama]

Would you move and make it your primary residence? Take the money? Vacation home?

[lhafer]

Absolutely would move. Dh was like...hope we win that home! I would find a new job there!

[BabyMine]

My first thought would be how to pay the taxes. I love where I live but if DH could relocate, they had good schools and Drs. I would move.

[SnuggleBuggles]

If I could afford the taxes I would keep it as a vacation house.

[rlu]

Depends where it is, geographically speaking. We couldn't afford the (income) taxes on the house unless we sold it so probably not even a question there, we'd take the money most likely.

[infomama]

Depends where it is, geographically speaking. We couldn't afford the (income) taxes on the house unless we sold it so probably not even a question there, we'd take the money most likely.

It's in Utah. Park City I believe.

[Jo..]

I'd sell it for the money. I don't want to live in Utah. :boogie:

[YouAreTheFocus]

I'd sell it for the money. I don't want to live in Utah. :boogie:

:yeahthat: show me the money!

[daniele_ut]

I'd sell it for the money. I don't want to live in Utah. :boogie:
Don't knock it till you've tried it! I live about 30 minutes from the house so we'd move in a heartbeat!

I think you also win $500,000 with the house, so that would go a long way to paying taxes. Even in the Park City area, our taxes tend to be pretty reasonable.

[Ceepa]

I love the look of the prairie grass around it. But no, we wouldn't move.

[mackmama]

I'd want to be in Park City proper, which I don't think this house is? I think this house is actually in Midway, not PC. We wouldn't keep it as a vacation home. I've never been very into the idea of owning 2 homes. So I think we'd sell it, sell our current house, and put the money toward moving and buying another home (not sure where, but not in our current neighborhood).

[alexsmommy]

Sell it and use part of the profits to do some work on our current home. We love our community, we have family here, I have a practice here, DH has work connections here. I'd bank the rest of the profits.
The hard part would be do we go and do a week's vacation there first - or just sell it as "brand new, never been lived in."

If it was in a really popular vacation destination, I might consider keeping it as a rental property, but I doubt we'd do that.

[army_mom]

We would love to keep it but it would not be primary residence and taxes for a vacation home like that would probably be out of our budget. I think we would sell it and make our own "dream home" somewhere of our choosing.

Keeping fingers crossed to win!!! :boogie:

[DietCokeLover]

I'd sell it for the money. I don't want to live in Utah. :boogie:

:yeahthat:

[Meatball Mommie]

An HGTV home - I think it was called their "green" home in 2010 - is in my town. We actually did the site work on it! DH and I loved the house but not the lot (too small - cluster community). The couple who won it, didn't want it and sold it right away.

[Mopey]

If it was feasible to make good rental money we'd keep it. If not, sell sell sell!

[pakin]

I remember an article in Money magazine about a HGTV dream house winner awhile back. They were the only winner that decided to keep the house. It became a huge financial problem for them. It was so expensive to maintain such a big house. Just from reading that, I would definitely sell.

Here is the article: http://money.cnn.com/magazines/moneymag/moneymag_archive/2006/06/01/8378645/index.htm

Pakin

DS 4/2001
DD 6/2005

[crl]

We would sell. Might try to go on a family vacation there first.

Catherine

[mommylamb]

Definitely sell. I'm pretty much unemployable outside the DC area, and I wouldn't want to vacation in Utah as a regular occurrence.

[hellokitty]

Yeah, there is no way DH could get a job out there. We'd stay there once and then sell it.

[katydid1971]

I'd sell it for the money. I don't want to live in Utah. :boogie:
:yeahthat:

[katydid1971]

Here is the article: http://money.cnn.com/magazines/moneymag/moneymag_archive/2006/06/01/8378645/index.htm

Interesting article. I have to say the couple doesn't sound like they have ever had their financial act together. I did find this quote interesting, keep in mind the article was written in May 2006 "Economy.com estimates that at least 1 million homeowners will see their house payments double in the next two years. A study by First American Corp. suggests that one in seven who have recently taken out adjustable-rate mortgages will have trouble making their payments."

[Puddy73]

Sell it as fast as possible. It is a beautiful house, but not at all practical for our family.