The Truth About The HGTV Dream Home Giveaways 

Would you want to live in one of these dream homes?

The last one where they sold the house and donated 200k worth of furniture was smart. They would never get 200k for reselling that furniture so they donated it then used the estimated value as a tax break from the taxes they had to pay on the house sale.

A wise winner would take the money or take the house and sell it immediately, take the money from the house and buy one a little less lavish.

It’s pretty weird how I was just talking about the new HGTV dream home with my mom this morning and now this is recommended to me. I didn’t even look it up online or text about it or anything, I just spoke about it out loud

Why am i not surprised that you have to already be rich to "Win" a Dream home.

The negative effects of the giveaway are not a problem with HGTV and their generosity. It's a problem with our over-reaching government and a well-known agency called the IRS.

Sell, too much of a headache in the long run unless you have a large savings to offset the cost.

Even if I DID want to live in one of those homes, I'd be afraid they installed hidden cameras, lol.

The house pictured in the video thumbnail - I worked on that home as an interior trim Carpenter, it was extremely well built. The tradesmen I worked with were all very talented.

Always take the cash, if not just take the house to sell it. Most people who win the house could never afford the taxes anyway. HGTV will never award enough additional cash to cover the taxes on the house. It’s completely ridiculous and negates the purpose of giving people who couldn’t otherwise afford it a chance to win a house. I will say people also need to realize these practices are NOT exclusive to HGTV. Anytime you win anything of any significance you have to pay taxes on it.

ya i would never live in those houses bc that is too much upkeep. i would take some of the furnishings, spend a weekend or two there, then sell it.

I would take the cash

Why do it then???!😡 it would be so much better for HGTV to make several homes and give people a chance to actually win/own a normal home, and that would help so many more people and be more kind to humanity!

I think I’d spend about a month in the home with my family. Like a vacation. Then I’d put it on the market. Keep the cash.

I would take the cash in a heartbeat. And enjoy the winners weekend 😄

Well, I guess I feel better that I haven't won one yet...

You could always take out a mortgage on that prize home to pay the taxes. And the interest on that mortgage would be tax deductible.

So what did we learn today class that we didn't already know??? 🤔🤔🤔

It's not that bad you guys. You can sell or you can take the cash version of the prize and still have some money you didn't have 5 seconds before you won to buy a house, vacation, car, whatever. I enter sweepstakes far more than I play the lottery because it costs me nothing if I don't win.

Why poor renters never win

Shut. I play everyday these sweepstakes for years and never win. I might need to change what I do after watching this scoop.

Same as Extreme Makeover Home Edition. Most if not all couldn't keep the houses. Taxes, electrical, AC, Heat etc all goes up and they cant afford it and have to sell.

I remember the days of the show from the 50's - Queen For A Day. The main giveaways were washing machines, refrigerators and stuff like that. What the contestants had to do was tell their personal stories of woe - deaths of children, loss of jobs, horrible diseases - and the most tragic was given a brand new appliance. The drawback was that the taxes were so high few could even afford those. Yes, I had a family friend who went on that show. Just making a comment.

HGTV definitely tries to make it seem very easy to upgrade a home - and it's often a lot harder They skip over contractor problems, foundation issues, etc

I just decided that I won't be trying to win anymore.

My wife told me if I win the Dream Home in Montana, she’s not coming. I’ll miss her

I definitely put in for the Dream home in Texas, it’s crazy how this popped up.

I’ll purchase my own home. No need for unnecessary debt.

It's a small price for the network to pay to get all that personal scoop on everyone who enters.

I pretty much new this already and this is true with any contest giveaway ! And it won't keep me from entering !

I stopped into and years ago for the HGTV dream home because I started to read the fine print that the government is going to come through lotta money. I’ve only seen a handful of people win the house and they all seem like they’re not doing that bad to begin with. So I figure my chances of winning are slim to none.

Yay...we win1.5 mil and have to pay government half!

Yep...take the money and go👍

Why don't they do one for tiny houses?

I tried for that house last fall. The green one, I think in Washington or Oregon. Applied every day but didn't win. Oh well, still was free and I think better odds than the lottery.

It's a win for the winner and them, take the money and improve your life. They keep the house and sell it. Please let me win it.

This isn't exclusive to HGTV. Any place that awards vacations and so on, you have to pay for. You win a $20,000 vacation package, it will actually cost you $8,000 if you want to go on the vacation (40% in taxes). That is how they make their money. They give you the cash and still get to keep the actual prize plus the publicity from it. The company always wins.

And this is called the "land of opportunity"?!?

I have often wondered if it would be financially worthwhile to immediately place the home as a vacation rental property.

So true. Granddaughter building in Texas and watching here gets ideas.

It’s Gorgeous of course and a Dream-to win it, but I am a middle aged single mom and could never Pay taxes on a home or anything so I would take the cash option and go home and buy a home closer to where I am from. Maybe take some furniture too I need a bedroom so that’s about it! still would be a miracle for me to win a HGTV Home! 🥰♥️♥️♥️♥️

That's why you never see them show up at a single wide trailer in a mobile home park. The people that already have nice homes is were they show up.

Yup I enter almost every year and nothing. I wonder how they really pick the winners.

HGTV is super shady about their contests. If you read the official rules in their entirety, they state that they reserve the right to do a full background check on the "potential" winner to ensure that they are awarding the "Dream package" to someone of reputable character. So, basically, myself or Joe Schmo off the street could be the official winner, i.e. the actual/first name drawn, but when the powers that be run their background check and feel you don't fit their ideal of the "Dream Winner" they draw another name, possibly multiple until they find a person who fits their profile.The official/actual winner will be none the wiser. This is bullshit folks, and in my opinion flat out discrimination. It's profiling based on (insert criteria here) socioeconomic class, education, bank account funds, credit score, social media history, etc, etc. Typically, the ONLY thing that disqualifies a person from a contest is if they are affiliated directly or indirectly (via employment or through family members) with either the contest's host or sponsors. I rarely see many contests that even exclude former felons, but HGTV, has it's own set of rules about how they award prizes. In most instances, if you win a prize, you ACTUALLY WIN the prize. Not so with HGTV. If you don't meet their arbitrary predetermined criteria, they move on to the next person, which is why they give themselves a month from contest end up to announcement of the winner... so they can CHOOSE and VET the winner. Nothing random or legit about these "Dream Contests." The HGTV "Dream Package," is a scam based on profiling. If you aren't already living in a certain "class" as predetermined by HGTV, there is zero chances of you winning, so basically no need to even enter these bogus contests. Only facts, folks.

Besides all the initial taxes from the winning, there are property taxes to pay, utilities and upkeep, insurance, etc...

I've entered twice a day online for the last and most recent sweepstakes and of course I probably didn't win, but I got my fingers crossed 🤞

Ha! That little lady at the very end was adorably sweet! How precious and cute!

Add to that if you’re even related or know somebody that works for one of the sponsors you can’t enter. My husband works for one of the sponsors and even our grown children and our friends that aren’t even related to us cannot enter.

That’s insane. The government likes to take my bonus at work too...seems like they need to let us win when we can

Thank you Nicki! That was very informative.

HGTV also makes money off those houses. When one was loc as Ted in NC I remember they had a home tour that if I remember cost $50 to tour the home.

I get that many sell the homes to pay off the tax burden, but I was wondering if the furnishings you can take back to your own home, or the many TVs, electronics, ect.?

The tax burden is to large especially considering what little we get for it. There should be exemptions for poor people who win homes.

Very good video to watch. You are very good at investigating journalism.

I have always planned to just take the lower cash option. What if you can't sell the pricey house and then you are screwed.

I decorated my bedroom this year, based on many of the ideas from the 2021 Dream Home.

I still want to win. I entered every day 2x each day. They can do a background check. I think they would be making a great choice picking my family to occupy one of their dream homes.

Nicki Swift, I have entered a couple times No wins. But that's ALOT of money to give Auncle Sam 😬 to live in those Gorgeous Breath taking Homes. 💰💰💰🚘🏘️🏚️🏠. Happy New year 2019.

I've been entering twice daily. I would prefer the total cash value and after taxes I would build my own home close to my daughters.

I would take the cash prize. Besides the fees the houses are in the middle of no where which would make the cash prize easier to get than selling the house.

I wanted the gig harbor house but I knew I wouldn’t be able to keep it.

Now I’ll now how to handle this situation when I win. I do enter twice a day everyday and have been doing so for at least ten years.

Wow i feel dooped! Lol

My mom tried every time to win the house lol. But we decided to just build it ourselves

Who don't know this already😏!!!! I already told mysef, if I won, I would sell the house... 😉 Glad yall giving us, that r entering, this info though. 👍🏽

Don’t forget that if you keep the house, the electric bill alone is probably more than a winner’s salary can bear. I mean, all those windows, all those lights, the tremendous amount of square footage to either heat or cool, the acreage of lawn and foliage to tend to … AND THE INEVITABLE POOL! Then there’s the upkeep on whatever vehicle you win. It’s really unfair to viewers not to offer something we can realistically afford to live in, a prize I would definitely consider, provided the building is sturdy enough to last, say, 30+ years.

Thank you for explaining the details!!🙏🏻👌🏻😊

If I won, I would really want to live there forever. But knowing I could not afford the taxes, I turn it into a b&b minus the breakfast, so others could enjoy it once a week.

Either take the money or use it as rental property or luxury Airbnb

I want to win and get the cash buy out. It’s be so nice to pay off student loans & buy a home closer to where I live now.

Always take the Cash ARV payout never take the home.. The tax liability is way too much.

In Canada the gifted home would not be taxable. A principal residences is not taxed when you sell either but a mortgage is not tax deductible. Some economists say it's financially better to deduct mortgages but it's really nice when you sell to know the money does not have a tax burden. People can often not afford to live in the homes they win in Canada because of property taxes but you could live for awhile because property taxes could be ignored for a year or so, until the city gets around to collecting.

I figured it was bs behind it! I don’t even bother to enter anymore!

Take the cash girl💰😀

Sell sell sell

I'm sure you're right, but how can a tax be 42% of the winnings? Damn Uncle Sam 🇺🇸

There’s always a catch

That’s why you take the cash option

If you are going to enter a contest to change you’re life and win a new home with all the perks of furniture, design, location etc. They should at least also agree to pay the ungodly amount of taxes and any fees that come with it or what’s the point? Yes you can sell the house for cash but why not just pay someone cash if they win rather than the home. I understand it’s for marketing that they do this but let’s be honest, 28% actually end up moving to the new home and they can’t possibly think that’s going to change in the near future, especially with COVID . Give people a fighting chance to actually live in these homes they are spending there time entering the contest for and pay those taxes and actually make it a contest that someone who has there heart set on these beautiful homes can live in them.

LOVELY JUST LOVELY 😊 I LOOK FORWARD TO WINNING THE HOME

If you ever win and you don't want to relocate if don't live in the area where the home is or have the means to keep up with the tax bill you do have the option to take the cash prize or accept the home and sell it to pay the taxes and do what you want with the cash from whichever decision you make.

Wow!! I didn't know taxes would be so much, almost the same as the prize damn!! Government takes everything from us... If the winner decide to take the cash, how much would they be taking?

I would definitely take the cash and buy a smaller house!!!

Thank you! Taxes are not an issue for me and totally affordable as a second home for us! Thank you 🙏🏼 🎉

Take the money and 🏃🏾‍♂️🏃🏽‍♀️💨💨!!!

If it's the Montana one they have for 2019, then I'd try to keep it but if the taxes are too much then I'd sell and build my own dream home with the money.

Donating the Furnishings... What an excellent idea!

Wow!!! As an avid follower, I was saddened to hear these secrets. I find it hard to believe that all my dreams of winning would be a pure nightmare!....thanks for the bad news about something i loved and looked up to so much!😒🙄😞😞😞

It's the American way...will continue to enter if by some tiny minute strike of genius l won wud yse the cash portion to actually upgrade our existing home for total wheelchair accessibility for my best girl and l....we both watch HGTV and enjoy it...

Yeah I’m not signing up for the Dream Home anymore. Those taxes no sir.

My 81 hubby just learned he has cancer. It would do him so much good to be near warm weatherSending prayer for us to win. We

lately decorated with way fair or some hgtv supported commercials. Used to be high end like eathan allen etc

Wonder exactly how much all of the fees and taxes are together and how long you can own it before owing all of that money??? If it has to be paid immediately how could anyone afford 700,000 or more with taxes and such???? Wow

I would take a loft over that..but if you have a big family it would be nice for the Holidays though

I hope I win this year just to take the cash option. 🤞😄

You’re right Nicki, taxation is theft.

Knowing about the tax liability, reputable contests with large prizes actually provides you with the estimated tax money as part of the award. They don't leave you stranded with something you cannot afford.

I always figured I would not keep it if I won. And the reason is taxes.

THAT BASTARD AIN'T MY UNCLE!

I would move in and create a monetized you tube channel about my experience. I would also have it listed on Airbnb or do a Bed and Breakfast to help pay for the cost. You could also sell the more expensive appliances, furniture, art work and replace them high quality thrift store purchases!