My Lottery Dream Home - General Discussion

[roseslg]

@topanga, I want a turtle room too.   I wouldn't be flashy with it either.  I would want a nice enough house that's paid off.   I don't need separate wings.  Maybe a vacation home, then just invest the rest and do some traveling.  

[AnnaRose]

1 hour ago, topanga said:

But I think (correct me if I'm wrong) you're better off getting the lump sum and putting it into your own investment vehicle. I think you'd be able to find a fund that would provide a bigger rate of return than you'd get from the state's (or Publisher's Clearing House's) annuity. Plus I always worry about companies going under or changing their rules and not being able to continue the annuity. 

But I don't know how I'd manage relatives constantly asking for money. They do that now, and I have nothing!!

If I won the lottery, I wouldn't have to purchase a mansion. I'd be fine with a nice home like one of the nicer ones from House Hunters that I can't afford in real life but has the features I like: media room, library, panoramic windows, updated bathrooms and kitchen. Jeez, I sound like a House Hunter: Where's my granite? Where's my screened in porch for the cat? Where's my room for the turtle?

I like that they show more modest homes they show because I think I would generally prefer that type even after I win the lottery.  Once upon a time I lived in an incredible historical mansion set on large and beautiful acreage.  It was overwhelming in so many ways.  The beauty was inspiring.  But over the years, I have become pretty minimilistic, and I've grown to hate overly large rooms and useless, redundant spaces.  That one lottery winners' dream home that they showed, that was overlooking the neighboring ranch that the winners ended up buying, was beautiful and the views were amazing... but I don't think I would enjoy living there.  It was just way too big and also too isolated from any nearby communities.

Lump sum vs annuity - The annuity payments are guaranteed by the state, I believe.  Some people may do better investing the lump sum, even though it is a much smaller amount due to the cash discount and being already post-taxes... but that is a bit more risky, and it requires a lot more discipline... which is something that most winners who took the lump sum have lacked.  So if you're disciplined, comfortable managing wealth and investments, have a good team of advisors, and don't mind a bit more risk for potentially greater return... go for it!  (But there's no stupidity or shame in taking the annuity if you don't.  It's better to know your personality, skills and limitations and act accordingly.)

Edited March 2, 2017 by AnnaRose

[Irlandesa]

9 hours ago, AnnaRose said:

I like that they show more modest homes they show because I think I would generally prefer that type even after I win the lottery

*whines* But it makes for some boring-ish TV.  I like this show but I also share a bit of disappointment that some of these houses aren't much more expensive, often times less expensive, than what we get on House Hunters: Regular.  I was expecting grander houses, although I would imagine getting the high earning lottery winners to do this show might be difficult.  

I respect the frugality of the winners, especially given the amounts they win.  And I would likely do the same if I were winning these amounts.  Still, I was kind of hoping for bigger houses or more with kick butt views. 

10 hours ago, AnnaRose said:

Some people may do better investing the lump sum, even though it is a much smaller amount due to the cash discount and being already post-taxes... but that is a bit more risky, and it requires a lot more discipline...

I too used to think lump sum was the best way to go but I was curious about this question and did some googling.  Apparently, a lot depends on the tax rate and what a winner thinks the tax rate will do over the course of the 30 years receiving the sum.  And finding an investment where the yield is at least a certain percentage--like 3 or 4 percent.  

[Terrafamilia]

If I won a sufficient amount in the lottery I'd build my own dream house to my own specifications.

[Gam2]

I think it's very wise of most of these winners to chose a reasonably sized house with a reasonable price tag. I've seen that show where winners went overboard and ended up spending all of their money. Also I've never understood why some people (mostly in Hollywood but other places too) that buy/build 20,000 square feet homes. How many people would it take to care for a house that large? And all of the gardens, landscaping, etc. I want to live in a house where I can actually find my loved ones. My ego isn't tied to the size of my house.

[Blondnotstupid]

Winning a lottery is so much more complex than HGTV understands.  I think this show is so irresponsible and sets most of these people up to be broke in less than a decade.  Here's why:  If you choose the lump sum payment, the amount you receive before taxes is about 60% of the stated jackpot.  In the US, you then pay Federal and if applicable, state and local income taxes.  I cringed watching an episode last night where the couple won a $20 million jackpot.  David kept saying they had $20 million.  No.  They got about $12 million gross.  After taxes in NY, it's about $6 million (39.6% to the IRS and about 10% to NY).  They were looking to spend $1.5 million.  David took them to the Hamptons.  After paying for the house they would have about $4.5 million.  But they would have to furnish the 20,000 square foot house (for two people and their 26-year old daughter) and pay the ongoing expenses.  Property taxes and insurance would be pretty high.  On top of those costs, the lifestyle in the Hamptons is very different from the neighborhood where they were living.  I figured they'd be broke in fewer than 10 years and turned the show off after 20 minutes.

If you select the annuity be aware that most states invest the money in extremely conservative investments.  You may not even keep up with inflation.  Also, estate taxes are a consideration.  If you die 4 years into a 30-year payment stream the IRS calculates the value of the future payments and, if the amount is high enough, you'll owe estate taxes.  But the state won't accelerate the payments.  So your estate needs to find the cash to pay the taxes while the annual payments continue for 26 more years.

If you buy a ticket in an adjoining state you may owe income taxes in both states--where you live and where you bought the ticket.

For those of you who wrote that you play the lottery AND you'd consult a financial advisor before you did anything with the winnings:   Good for you!  Right idea! 

[Irlandesa]

52 minutes ago, Blondnotstupid said:

I think this show is so irresponsible and sets most of these people up to be broke in less than a decade. 

I don't think it's the show that is setting them up for any future success/failure.  I imagine this show works like House Hunters in that the winners have already purchased the homes. 

[Nysha]

1 hour ago, Blondnotstupid said:

Also, estate taxes are a consideration.  If you die 4 years into a 30-year payment stream the IRS calculates the value of the future payments and, if the amount is high enough, you'll owe estate taxes.  But the state won't accelerate the payments.  So your estate needs to find the cash to pay the taxes while the annual payments continue for 26 more years.

 

I didn't know this. I'm 53 and both my grandmas lived to be 85+, but not much more, so this is something I'd need to consider.

As for the houses, I also think the winners have already bought their house and all David does is show us some comparable houses to make us jealous.

[ByaNose]

50 minutes ago, Irlandesa said:

I don't think it's the show that is setting them up for any future success/failure.  I imagine this show works like House Hunters in that the winners have already purchased the homes. 

Yeah, most of the homeowners are already in escrow when David visits. At least, it seems to be the rule for all of the HH shows. I have watched a few of these shows and I'm rather disappointed. The houses aren't any better then HH and most of the time they are kind of old and outdated. I expected more from a show where it's people winning millions of dollars in the lottery. While I admire their common sense in their purchases it makes for boring television. If they aren't spending at least $900,000-$1,000,000 it's not worth watching. IMO!!

[Mu Shu]

I cant wait until some one wins 20k on a "scratcher " and starts looking at tiny "dream" homes.  That's how this will all end.

[Gam2]

Mu Shu, that's hilarious! And so true. Good one. 

[ByaNose]

OMG! I just can't with this show anymore. A couple win 1 million in a scratch off and buy a new house for $115,000. WTF??? They should be calling this show My Lottery Dream Home: The Poverty Edition. I want people who win 5-10 Million and buying big massive homes. If I want to watch people buying a house for $115,000,  I could videotape myself doing it. 

[Mu Shu]

Shit, I could buy a house for 115k.  That's like an episode of HH that you delete from the DVR because there's not enough time in the day to watch boring ass shit.  

[ByaNose]

Another million dollar scratch off winner. Jeez! How are these people winning all of those? I think I won $2 once. That was after spending a million dollars in scratch offs. Whatever!

Anyway, a mother and her 2 daughters win a million dollars with a scratch off and buy a house in Cape Code roughly over $330,000. Even I could could buy a house costing that without winning a million dollars. This show is so lame. 

[Lola16]

On 12/20/2016 at 3:39 PM, ByaNose said:

Nope! He has hair and his head is somehow round now. LOL!!!

http://mikeaubrey.com/about-mike/

He just looks so different.

unrecognizable. what is with all the canadian viagra stuff on his website though? should be hair transplants.

[Kohola3]

9 hours ago, ByaNose said:

Anyway, a mother and her 2 daughters win a million dollars with a scratch off and buy a house in Cape Code roughly over $330,000. Even I could could buy a house costing that without winning a million dollars. This show is so lame. 

Actually, I was impressed by their ability to be logical.  So many lottery winners end up filing for bankruptcy by blowing every cent right off the bat.  If it's a hose they like and a house that suits their needs, good for them.  Put the rest away for other things like education, travel, and retirement.  And there are actually those who donate to charity or relatives rather than keeping everything.

Edited March 25, 2017 by Kohola3

[biakbiak]

3 hours ago, Kohola3 said:

Actually, I was impressed by their ability to be logical.  So many lottery winners end up filing for bankruptcy by blowing every cent right off the bat.  If it's a hose they like and a house that suits their needs, good for them.  Put the rest away for other things like education, travel, and retirement.  And there are actually those who donate to charity or relatives rather than keeping everything.

I agree and if she paid for the house in full instead of getting a mortgage she would only have a about 200k after taxes on her winnings.

[Mu Shu]

What kind of home can you get for 330k in cape cod?  Must be pretty tiny. 

I caught the Scituate episode.  The woman and her friend with the smarmy host were over the top with all their eyebugging and such.  No, you can not afford "about any home in Scituate" with 4 million before taxes.   Lord woman, get your ratty, greying mop done before you go on TV.  

I hate the host with his faux sincerity.  

[ByaNose]

6 hours ago, Mu Shu said:

What kind of home can you get for 330k in cape cod?  Must be pretty tiny. 

I caught the Scituate episode.  The woman and her friend with the smarmy host were over the top with all their eyebugging and such.  No, you can not afford "about any home in Scituate" with 4 million before taxes.   Lord woman, get your ratty, greying mop done before you go on TV.  

I hate the host with his faux sincerity.  

And, I hate him for his constant hugging. Jeez! Whatever happened to a handshake between people?!

[Irlandesa]

I couldn't buy a house for 330K.  It's not the million dollar homes, which I wouldn't expect with her having only won one million dollars, but at least we are out of the 100K homes.  And even though she ultimately chose a more practical 300K home, I'm glad that the search did go into the half a million dollar homes.  They could have purchased one of the dual homes and rented the other one out.

In terms of being practical, the home owners appear to be--although I do wonder if spending 330K was almost too much.  It might be doable with three people living there but if the girls leave...it might be tough.

I am wondering why they're getting only winners with a lower amount of money.  Is it because those who win more don't want to be on TV?  Those who win less need TV money?  Those who win more don't want to advertise they won more?

[chessiegal]

27 minutes ago, Irlandesa said:

I am wondering why they're getting only winners with a lower amount of money.  Is it because those who win more don't want to be on TV?  Those who win less need TV money?  Those who win more don't want to advertise they won more?

I'm guessing all of the above.

[juliet73]

2 hours ago, Irlandesa said:

 

I am wondering why they're getting only winners with a lower amount of money.  Is it because those who win more don't want to be on TV?  Those who win less need TV money?  Those who win more don't want to advertise they won more?

I agree...all of the above. Plus, I would think the security risk would be a huge factor.  You reveal your name, your town, how much you won, etc. A few Google clicks, and you have strangers showing up at your door. 

Most of the episodes in season 1 had the $10mil + winners. I think the very first episode was about the couple that won $180mil.

[AnnaRose]

21 hours ago, biakbiak said:

I agree and if she paid for the house in full instead of getting a mortgage she would only have a about 200k after taxes on her winnings.

Yes, exactly!  And I found it super annoying that they were pretending the budget was up to $600,000.  They would barely even have that total left after taxes.  And they were three people living in a one bedroom apartment... so I'm guessing they didn't have other savings to add to it.  Plus the taxes and insurance on a more expensive property would be much higher.  Nevermind the increase in utility costs and having to furnish the space.

I really hate it when this unctuous host goes on and on about how they have the entire "million dollars!!!" to spend.  The lottery commission withholds a percentage for federal and state taxes (in my state 30%) so you wouldn't even get more than $700,000.  And you better make sure you set aside another $100,000 to cover the income tax balance.

So the question I always have in mind when I watch this show... is David that stupid or do they think their viewers are?  It's obviously one or the other.
 

12 hours ago, Irlandesa said:

I couldn't buy a house for 330K.  It's not the million dollar homes, which I wouldn't expect with her having only won one million dollars, but at least we are out of the 100K homes.  And even though she ultimately chose a more practical 300K home, I'm glad that the search did go into the half a million dollar homes.  They could have purchased one of the dual homes and rented the other one out.

In terms of being practical, the home owners appear to be--although I do wonder if spending 330K was almost too much.  It might be doable with three people living there but if the girls leave...it might be tough.

I am wondering why they're getting only winners with a lower amount of money.  Is it because those who win more don't want to be on TV?  Those who win less need TV money?  Those who win more don't want to advertise they won more?

Yep, they will still need to be careful with their spending.  It was nice that the three of them are so close, though.  I hope they continue to be wise with their finances, and will be happy living together.

I would never go on this show or advertise that I won a bunch of money.  That's just asking for trouble, especially if you've won any larger amount.

I watched the episode with the Mississippi ER doctor and SAHDad who bought a beach house that was more than they would have netted from their one million dollar win.  They were unusual in that they had the means to buy an expensive house due to her salary or whatever.  They seemed nice and were thrilled with their home right on the beach.

I also caught the repeat of the Richmond, VA couple.  I spent the whole episode trying to figure out what the wife's accent was.  I was surprised that they bought the tiny 2 bed/ 1 bath house after going on and on about how they wanted to have room for all their kids and grandkids.  I guess that was just a misdirect.  That is a great little house for them though, and they seemed very pleased with it... so good for them.  I wonder if they will end up selling their "forever" Richmond home and add on to the beach house?

Edited March 26, 2017 by AnnaRose
Clarity. (I hope.)

[Kohola3]

Quote

So the question I always have in mind when I watch this show... is David that stupid or do they think their viewers are?  It's obviously one or the other.

I'm guessing that they think the viewers are.  It's like the TLC bride programs where they say they have $2,000 to spend on a gown and then try on and purchase $2,000 dresses.  They don't factor in the alterations that average $500 (if they are lucky), taxes, the necessary undergarments, veil, accessories, shoes, etc.  

As you said, AnnaRose, no one talks property taxes, insurance, increased cost of utilities or any of the practical things.  All of that should be part of the discussion, not just "blow the million in one day and forget about the future" tableau.  But that's how lottery winners end up bankrupt.

[AuntieDiane6]

Quote

I spent the whole episode trying to figure out what the wife's accent was. 

Filipino.

[ByaNose]

I guess saying you $1 Million dollars sounds better then saying you won $800,000. LOL!!!

I guess buying a house between $100,000 - $300,000 is reasonable enough if you "won" a million in a scratch off. If it's your only source of income then it's better to buy a new home on the low end. Unfortunately, it makes for boring televison. I also recall that when it first aired the winners were really, really rich. I'm guessing most big winners don't want to advertise how much they've won let alone where they moved to.

[topanga]

50 minutes ago, ByaNose said:

I guess saying you $1 Million dollars sounds better then saying you won $800,000. LOL!!!

I guess buying a house between $100,000 - $300,000 is reasonable enough if you "won" a million in a scratch off. If it's your only source of income then it's better to buy a new home on the low end. Unfortunately, it makes for boring televison. I also recall that when it first aired the winners were really, really rich. I'm guessing most big winners don't want to advertise how much they've won let alone where they moved to.

Makes sense. But I'm disappointed that Im not getting the multi-million dollar house porn like the homes I see each week on 'Big Little Lies.' Couldn't the producers throw in a really nice house as one of the  dummy homes?

[Nysha]

Houses are pretty cheap in my area. I'm always checking out Zillow and I could get everything I wanted and more for $250,000-$350,000. Houses for more than $500,000 usually take 6 months to a year to sell. 

[AnnaRose]

I watched all four repeats this evening. (Don't ask me why.)  The first one was the couple who "won 20 million dollars!"  As was mentioned above, that was the annuity amount, so if they took the cash amount, after the cash discount and taxes they would have netted closer to $6 million.  The house they bought was huge and very expensive... so I hope they will be able to afford the taxes, insurance, utilities etc.  And the Hamptons lifestyle.  I would not want a house that big, especially for three or four people.  They were funny though.  Especially the husband.  I was starting to worry about his preoccupation with having a lot of bathrooms when he explained that it was because he was always waiting on his wife and daughter to let him use it.  I hope the need to renovate the kitchen, to replace those beautiful wood cabinets with white ones, was producer driven... or at least that she really did change her mind about it.   I hate to see high quality wood cabinets and trim painted or demolished.

Next up was the $2 million second chance winning Ohio couple who had been living in the husband's tiny boyhood home.  Boy he had a ton of memorabilia!  I'd rather spend that money improving the house.  I don't know how they managed to live there that long.  Perhaps they were overcompensating buying such a huge one post lottery win.  I really liked the second and third houses they looked at.  Those homes both had so much character compared to the boring model they chose to have built.  I hope they manage to make their build more interesting than the model was.

Then there was the empty-nester-couple who won $1 million and were moving to the Nashville area.  The street the first house was on looking pretty cute, but I liked the house they chose the best.  Nashville traffic is a nightmare!  I hope hubby isn't too far from work.

Last but not least was the Indiana couch surfer who won $1 million in a second chance drawing.  I thought the house he bought was fugly, but he loved it and was so grateful... so good for him.  The first house was the nicest and the property was beautiful... but those white painted cabinets looked awful.  They either failed to prepare them correctly, or more likely were going for a shabby chic distressed look that just looked flat out shabby. And distressed... but not in a good way!

[Ohhbaracuda]

On 3/24/2017 at 11:31 PM, ByaNose said:

Another million dollar scratch off winner. Jeez! How are these people winning all of those? I think I won $2 once. That was after spending a million dollars in scratch offs. Whatever!

Anyway, a mother and her 2 daughters win a million dollars with a scratch off and buy a house in Cape Code roughly over $330,000. Even I could could buy a house costing that without winning a million dollars. This show is so lame. 

Hi there- one of the daughters here! Just wanted to chime in-

houses on Cape Cod typically start around $245K but that's only for about 1,500 sq feet. Massachusetts is a really expensive state. 

On 3/25/2017 at 9:14 PM, Irlandesa said:

I couldn't buy a house for 330K.  It's not the million dollar homes, which I wouldn't expect with her having only won one million dollars, but at least we are out of the 100K homes.  And even though she ultimately chose a more practical 300K home, I'm glad that the search did go into the half a million dollar homes.  They could have purchased one of the dual homes and rented the other one out.

In terms of being practical, the home owners appear to be--although I do wonder if spending 330K was almost too much.  It might be doable with three people living there but if the girls leave...it might be tough.

I am wondering why they're getting only winners with a lower amount of money.  Is it because those who win more don't want to be on TV?  Those who win less need TV money?  Those who win more don't want to advertise they won more?

We didn't buy the house out right. We did get a mortgage. The girls (me and my sister) are not planning on leaving anytime soon. Yes, our mother had planned on living alone but things change and we decided to invest the win in property with all three of us!

Any other questions, feel free to let me know! 

[ByaNose]

16 minutes ago, Ohhbaracuda said:

Hi there- one of the daughters here! Just wanted to chime in-

houses on Cape Cod typically start around $245K but that's only for about 1,500 sq feet. Massachusetts is a really expensive state. 

We didn't buy the house out right. We did get a mortgage. The girls (me and my sister) are not planning on leaving anytime soon. Yes, our mother had planned on living alone but things change and we decided to invest the win in property with all three of us!

Any other questions, feel free to let me know! 

I think it's great that you are all living together. You are like the Gilmore Girls + 1. LOL!!!! Please settle the rumor. Is one million dollars really more like $800,000? I wouldn't sneeze at $800,000 either. Just curious. How long did it take to film? Did you have a big viewing party? Cape Cod looks beautiful. I've never been there but I bet it's a fun place during the summer, too. 

[AnnaRose]

53 minutes ago, Ohhbaracuda said:

Hi there- one of the daughters here! Just wanted to chime in-

houses on Cape Cod typically start around $245K but that's only for about 1,500 sq feet. Massachusetts is a really expensive state. 

We didn't buy the house out right. We did get a mortgage. The girls (me and my sister) are not planning on leaving anytime soon. Yes, our mother had planned on living alone but things change and we decided to invest the win in property with all three of us!

Any other questions, feel free to let me know! 

So nice of you to offer to answer quesions! My first one is, did you have to be already under contract for a house when you agreed to go on the show?   And also... Is the lottery in on referring people to this show for publicity, or do the producers just use the freedom of information act (or just info on the internet) to track people down and see if they can get them to participate?

How long did it take to shoot your episode, Ohhbaracuda?  Did they do your hair and makeup or offer any advice for onscreen outfit choices?   I'm super shy, so I would not be going on television... but I hope you and your family had some star treatment!

My last question is. did your state lottery commission require you to do media related to your win?  I've read that it varies state to state with some states even allowing anonymity.  Personally, I'd prefer to keep a low profile, but it seems like winning the lower amounts shouldn't really garner any negative attention.

Oh, I lied.  I do have one more question.   Does the show pay the participants at all?  (If you don't mind me asking.)

31 minutes ago, ByaNose said:

I think it's great that you are all living together. You are like the Gilmore Girls + 1. LOL!!!! Please settle the rumor. Is one million dollars really more like $800,000? I wouldn't sneeze at $800,000 either. Just curious. How long did it take to film? Did you have a big viewing party? Cape Cod looks beautiful. I've never been there but I bet it's a fun place during the summer, too. 

 Yes, I thought of The Gilmore Girls too.  So cute!  (Totally made me want to have daughters.  Or a sister!)

I thought it would probably be closer to $600k net... at least in my state.  I would be very happy with that, though... FYI, Universe!

Edited April 2, 2017 by AnnaRose
Edited to include quote.

[Ohhbaracuda]

17 hours ago, ByaNose said:

I think it's great that you are all living together. You are like the Gilmore Girls + 1. LOL!!!! Please settle the rumor. Is one million dollars really more like $800,000? I wouldn't sneeze at $800,000 either. Just curious. How long did it take to film? Did you have a big viewing party? Cape Cod looks beautiful. I've never been there but I bet it's a fun place during the summer, too. 

We totally are like Gilmore Girls!  It's actually a bit less than $800k, closer to $650 if you take the lump sum. It's took 4 days film. No veiwing party, just us three with Chinese food and lots of horrified reactions to what we sounded like on tv.

 

17 hours ago, AnnaRose said:

So nice of you to offer to answer quesions! My first one is, did you have to be already under contract for a house when you agreed to go on the show?   And also... Is the lottery in on referring people to this show for publicity, or do the producers just use the freedom of information act (or just info on the internet) to track people down and see if they can get them to participate?

How long did it take to shoot your episode, Ohhbaracuda?  Did they do your hair and makeup or offer any advice for onscreen outfit choices?   I'm super shy, so I would not be going on television... but I hope you and your family had some star treatment!

My last question is. did your state lottery commission require you to do media related to your win?  I've read that it varies state to state with some states even allowing anonymity.  Personally, I'd prefer to keep a low profile, but it seems like winning the lower amounts shouldn't really garner any negative attention.

Oh, I lied.  I do have one more question.   Does the show pay the participants at all?  (If you don't mind me asking.)

 Yes, I thought of The Gilmore Girls too.  So cute!  (Totally made me want to have daughters.  Or a sister!)

I thought it would probably be closer to $600k net... at least in my state.  I would be very happy with that, though... FYI, Universe!

We have signed contracts so I can't answer all those questions be what I can say is that the team we had for filming was great. David had his personal hair and makeup artist with him and she offered touch ups if we got shiny but we chose our own wardrobe and makeup and hair and all that. Like they said, we all have degrees in theater so my mum and sister are super outgoing when on camera (just a different version of the stage) and they talked a lot. I focus on the backstage stuff so i was a little more reserved in my speaking much to our production managers chagrin. 

 

We we got a postcard in the mail from the producers right after my mum cashed the ticket because they found her via the MA lottery website. She did a couple interviews and then that was that! The lottery commission was not involved. However in MA you do have to have your photo on the website, and if you don't want to be on it you have to send a lawyer in your stead. 

 

I think thats all all I can answer without breaking the contract with the show. 

[suebee12]

Watched the Sarasota episode last night since I lived there for most of my life. Of course, the houses they looked at were not in Sarasota but I knew the Manatee area also. I thought David was toned down a bit and the houses were all nice. Since we had seen Mom and Dad pick their house out in Buffalo, we already knew the family. I truly wondered why they wanted a house in Buffalo at their age except they wanted to smother/live near their oldest son! Now I know that they can escape Buffalo winters and stay in Florida for the worst of the winter.

I enjoyed the brother's camaraderie, it didn't seem forced. I personally would have picked house #3 and had someone fix the few problems but the house he chose was really nice. The Manatee area is out a bit from Bradenton and the beaches but since he needed quick access to Tampa airport, he chose well. For a Lottery house hunt, I enjoyed this episode.

[Irlandesa]

The fact that the parents get their own area make me think that this is as much their house as it is the son's.  I bet they go south for the worst of the winter months and go back to Buffalo for the social aspects.  Didn't he spend more than they did?

[ByaNose]

I wanted the house with the pool. Actually, I want any house with a pool in Florida. I've been there in June, July & August and I thought I was going to die. 

[ByaNose]

I must be the only person who watches this show. A couple won a million dollars on a scratch off. They ended up buying a $430,000 townhouse. A townhouse???? I don't watch HGTV to see people buying a townhouse. I live in a townhouse. I don't need to see people who won a million dollars buying one. Rant over. 

[biakbiak]

25 minutes ago, ByaNose said:

I must be the only person who watches this show. A couple won a million dollars on a scratch off. They ended up buying a $430,000 townhouse. A townhouse???? I don't watch HGTV to see people buying a townhouse. I live in a townhouse. I don't need to see people who won a million dollars buying one. Rant over. 

But given how lottery winnings are taxed they actually only won 500,000 to 600,000 so it's actually smart not to overspend.

[suebee12]

10 hours ago, ByaNose said:

They ended up buying a $430,000 townhouse. A townhouse????

I really liked their choice. The DC area is sooooo expensive and they got so much more for their money. It was brand new, had everything that they wanted with the exception of a huge backyard and was actually under their budget. It also looked like it was much closer to their work and the daycare center so considering the traffic in the area it was probably a good move. They didn't mention the HOA fees which I am sure the townhouse has but I am betting that the husband was glad to have no lawn maintenance for the little free time he has. They had room to grow and somewhere down the road if they want a single family home they can sell this place and move on. For now, I think it was a perfect solution.

[ByaNose]

Okay, so I was wrong and it was a sensible purchase. LOL!! It's true a million dollars isn't really a million dollars. Why go house poor when you won a million. Hopefully, they'll get a good return on their investment if they ever decide to sell. I still liked the houses better and they didn't cost that much more. BTW! If I win the lottery and buy a house I won't be inviting David or HGTV to tag along. I think I can I could manage on my own. The current Mega Millions lottery is $346,000,000 & the Powerball is $286,000,000. Oddly enough, most of the winners on this show seem to win with scratch off tickets which I never buy. Maybe, I should.

[suebee12]

1 hour ago, ByaNose said:

BTW! If I win the lottery and buy a house I won't be inviting David or HGTV to tag along

You are right there! Who wants the world knowing where you are and how much you won! Of course, my chances of winning the lottery were greatly diminished when I moved from FL to MS! No lottery here! The most I ever won on a scratch off was $1000...not enough to buy a house!

Back to their choices...I liked the townhouse the most of all of their choices. The first house was in Springfield which is a good hike to DC. Back in the day when I lived in VA, it was considered way out of DC...not so anymore! I-95 is just a parking lot for DC now! I loved the layout of the 3rd house with all of those bathrooms and it had a great family room downstairs. All in all a great value.(of course, like I mentioned, they didn't tell us how much the HOA fees were)

[Irlandesa]

13 hours ago, ByaNose said:

I must be the only person who watches this show. A couple won a million dollars on a scratch off. They ended up buying a $430,000 townhouse. A townhouse???? I don't watch HGTV to see people buying a townhouse. I live in a townhouse. I don't need to see people who won a million dollars buying one. Rant over. 

 

12 hours ago, biakbiak said:

But given how lottery winnings are taxed they actually only won 500,000 to 600,000 so it's actually smart not to overspend.

I feel like we have this discussion every time this show starts back up.  Yes, the winners are often shown being sensible because their winnings are not very much when you take out taxes (and sometimes lump sum vs. annuity if applicable). So I definitely can't fault them for being practical.

On the other hand, this show is called "my lottery dream house" and lately, the "dream houses" have actually been plain old regular houses you'd see on House Hunters.  Heck, due to the number of House Hunters that get filmed, we're going to see fancier houses more often on that show than we've been seeing on this show lately. 

In the beginning, there'd be a few bigger winners who'd buy large houses like the Eagle Crest couple or even Stillwater. But lately budgets have been less than 300K.  Or this episode, 500K which is not much for the area where they lived.

So I have no problem with practicality but it is kind of disappointing that the lottery show doesn't involve more house porn.

[ByaNose]

4 minutes ago, Irlandesa said:

 

I feel like we have this discussion every time this show starts back up.  Yes, the winners are often shown being sensible because their winnings are not very much when you take out taxes (and sometimes lump sum vs. annuity if applicable). So I definitely can't fault them for being practical.

On the other hand, this show is called "my lottery dream house" and lately, the "dream houses" have actually been plain old regular houses you'd see on House Hunters.  Heck, due to the number of House Hunters that get filmed, we're going to see fancier houses more often on that show than we've been seeing on this show lately. 

In the beginning, there'd be a few bigger winners who'd buy large houses like the Eagle Crest couple or even Stillwater. But lately budgets have been less than 300K.  Or this episode, 500K which is not much for the area where they lived.

So I have no problem with practicality but it is kind of disappointing that the lottery show doesn't involve more house porn.

Yeah, I think that what my rant & issue are with this show. I want lottery winners who buy mega mansions. it's easier to cast people who have a million versus serveral million. The title doesn't really live up to the people who have won & are cast on the show. That said, I wouldn't sneeze at a million minus a few hundred thousand. LOL!!!

[roseslg]

2 hours ago, ByaNose said:

Okay, so I was wrong and it was a sensible purchase. LOL!! It's true a million dollars isn't really a million dollars. Why go house poor when you won a million. Hopefully, they'll get a good return on their investment if they ever decide to sell. I still liked the houses better and they didn't cost that much more. BTW! If I win the lottery and buy a house I won't be inviting David or HGTV to tag along. I think I can I could manage on my own. The current Mega Millions lottery is $346,000,000 & the Powerball is $286,000,000. Oddly enough, most of the winners on this show seem to win with scratch off tickets which I never buy. Maybe, I should.

Ugh, I guess I didn't win last nights mega million then.  Grrrrr. 

 

When i I hear they've only won a million, I seriously want to turn it off. Didn't the couple who bought a house on Chesapeake Bay only spend 200+?  My first apartment was more than that.   It's not really escapist television, is it?

[debraran]

I caught a few of these shows and like the ones that have the couples buy something reasonable and not go crazy especially if they just won a million. I agree, after taxes, etc., it will go and you have to pay for upkeep and common fees if in a condo like environment which are life-long.

The last one I watched a couple wanted a place by the water, they took the 2 bedroom without a lot of room for guests because it was the closest to the water and I was glad they actually thought of themselves over potential guests.  I've never seen so many people care about visitors. My family was always middle class to lower middle-class  and we never had extra room for guests.  They stayed in hotels or bunked with others. Nice to have but I wouldn't go into deeper debt for it.

I know it's public if you want to look, but I wouldn't tell anyone I won, especially if I was single. I would put it in an annuity/account to gain interest and live better than before but not luxurious, that's just not me.  I would give to charities if I won a lot and something tangible I could see and not just a check. I would travel and make sure family and bills were taken care of.

I can see why so many lose their money, I saw a show once where more than half were in debt in a few years, really dumb decisions, unscrupulous money managers, greedy relatives. You really need to take a deep breath and get good guidance especially if you are young.

[Nysha]

3 hours ago, debraran said:

see why so many lose their money, I saw a show once where more than half were in debt in a few years, really dumb decisions, unscrupulous money managers, greedy relatives.

"The Lottery Changed My Life" showcased a man who won twice and still lost his house because he hadn't made his house payments and the state he lived in didn't allow the bank to garnish future winnings. This poor man had won when he was young & again before the first one ran out and never learned to budget or do without.  On his last day in his house, he was buying scratch tickets, trying to win his way out of the situation.

[suebee12]

The first person to win the Florida Lottery was from Sarasota and it was won by getting a chance on a scratch off and then went into a drawing. The guy worked at a car wash and was broke before the first year was over...He bought all kinds of expensive things and just plain ran out of money. Someone young  I know inherited $16,000 and thought they could retire...ah, the knowledge of young people!

[debraran]

1 hour ago, suebee12 said:

The first person to win the Florida Lottery was from Sarasota and it was won by getting a chance on a scratch off and then went into a drawing. The guy worked at a car wash and was broke before the first year was over...He bought all kinds of expensive things and just plain ran out of money. Someone young  I know inherited $16,000 and thought they could retire...ah, the knowledge of young people!

I agree, when I see the cars, homes, etc. bought with winnings, I think, do they understand anything about taxes and upkeep and how much utilities and grounds work go into a home like that.? You can't expect anyone getting a commission to tell you what to do, solely on your well being.

Oprah, way back when, used to help people out of debt, have a party, see them cry and then realized that most of them found themselves back in debt when she did followups later and she stopped. You can pay off a huge credit card bill but you need to address how it got there first. Many of those people win lotteries or get inheritances and it's sad to see it go so quickly.

My Mom lived through the depression and taught me young, don't live beyond your means, live under. When I got my first home, I insisted, to the chagrin of the bank mortgage officer, that our home monthly payment was doable on one salary. He insisted we could get so much more house, etc. and I said, No, I might work part time with my kids (and I did having twins and a singleton) and I need to know we wont lose the house if one of us loses his or her job.  I never regretted it, not a foolproof method, not used much today, but it worked for me. Sure I wish I could have had some more perks, but piece of mind is great too.

I hope a scratch off is a winner for me one day, don't play much but I hope I have the chance to do some nice things, remodel a bit and have some security in the bank.

[Nysha]

I bought a Megamillions ticket since it's up to almost $350 million. If I win, I'm going to buy property to build my own house because there are very few mansions for sale in my little corner of Idaho.

[MortysCleaningLady]

The state in which I reside allows you to win the lottery anonymously -- basically if I were to win, My Lottery Dream Home, would never be able to find me.  

 

And I applaud the sensible choices.   I did hope the DC couple would buy the ranch near Mount Vernon because babies, stairs, and three stories of house can be a lot of gates (which they could afford), but still.