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has anyone ever won that house that diynetwork gives away are there any daves garden members who won it its the log cabin they give away I was wandering how much taxes you have to pay or fees you have to pay to take it its home valued at 750,0000 seven hundred fifty thousands also has anyone won the 100,000 home make over how much taxes would that cost you if you win a car or vacation valued at 1,000 dolars how much taxes do you have to pay
Those sites post a list of winners that win the houses, makeovers, etc.
With the big wins (the real expensive houses) there is also a cash gift that helps pay for the taxes. Before that, most 'simple folk' just sold the house and paid the taxes.
With the car and the thousand dollars... you'd pay the value of the car added to your yearly income I think - and whatever tax bracket you land in..that is what you'd pay. Ditto the thousand dollars.. Alot of time they add a car to the win...and so I imagine some would have to sell it to pay the tax on the rest of the award plus the car sales value.
I don't think anyone ever keeps that really big expensive house at DIY, even now. I've heard they all just sell it...then with what's left after taxes and what the realtor gets, they can do whatever they want to with the rest of the money. I wouldn't keep it myself, either. Definitely not worth the hassle. I'd get a much more modest house instead. I'm not into that kind of lifestyle. There's a lot of rich people (not to mention many who aren't) who are in panic mode these days. The economy just isn't going well at all.
Linda
Agree with you 100%. Heck, I'd be happy with the great dog house they give away. I think I'd keep some of the furniture - especially the handmade craft (local) stuff. I for sure would sell the car - they always give gas guzzlers away. The money they give usually will cover the taxes - they learned that the first go around. Where they build mostly has a gazillion dollars/month maintenence fees that are also prohibitive. I think (and not being a snob) the neighbors are glad that the winners sell!!
I came home from work several months ago to find my youngest, strongest, healthiest in a state of heat stroke. $1,500 later I bought a patio panel doggie door and have subsequently installed a doggie door in my household garage door so that in the summer they can enter the cooler house. This, despite having built a kennel on the east side of my house, with a doggie door into the garage, and covered with jasminodes to keep them comfortable many years ago.
BOTH doggie doors and the cost associated with the forced air conditioning being left on all day long would have been less over 10 years than the vet bill was. Now then . . . I'm not so sure about the repeated cleaning of the WTW carpeting.
