Home lottery winners always sell home prize.

[ZenOps]

http://www.cbc.ca/news/canada/new-br...alue-1.4133955

No surprise to me. Its happening in Britain where some handed down from parent to child estate values are also in the millions and the tax bill each year is just crazy.

[Disoblige]

Yeah, makes sense. Even look at KPHMPH; makes no sense to keep a 2.4 million dollar home unless you were already looking to upgrade to that.

[G-ZUS]

Originally posted by Disoblige
Yeah, makes sense. Even look at KPHMPH; makes no sense to keep a 2.4 million dollar home unless you were already looking to upgrade to that.

Yeah, I'd sell it too!

[botox]

I would sell as well. I thought you needed to keep the home for 1 year before you can sell?

[ExtraSlow]

I would sell it too, who wants to live in the suburbs? Gross.

[flipstah]

That's why you wish to win the cars in these things! Usually they have a cash equivalent that's way less than the value of the prize but I guess not for the big ticket items?

[dj_rice]

Makes sense. We're not all ballers being able to afford heating/water/property bills living in a home like that.

[Brent.ff]

strange, chick at work was just telling me her friend kept the one they won in Mahogany, and sold their old house. I couldn't imagine keeping it..definitely sell, and pay off my mortgage

[TomcoPDR]

What I wonder too is, if a $2 million winner is selling to get some cash flow; who are those buying it or comparables within the same price range within the neighbourhood. Of course, disclaimer I ain't no Beyond baller, so I'm on the selling side as well if I won something like that.

[NoPulp]

I'd sell. The homes typically don't interest me, I'd rather have a "lesser home" paid off and some extra cash. Should have a cash option like cars typically do.

[Xtrema]

Originally posted by botox
I would sell as well. I thought you needed to keep the home for 1 year before you can sell?

I think that's just for primary residence/tax purpose. But now, who knows since you have to report that to CRA.

That said, if they say home is worth $2M, can't i get cash equivalent? I prefer that to save the hassle because they overinflate the value of the prize.

Originally posted by TomcoPDR
What I wonder too is, if a $2 million winner is selling to get some cash flow; who are those buying it or comparables within the same price range within the neighbourhood. Of course, disclaimer I ain't no Beyond baller, so I'm on the selling side as well if I won something like that.

The same people who buys show homes because of the cheaper/free upgrades. But of course, you have to deal with the wear and tear of thousands of people going thru your place. Goes triple with lotto homes.

Combined with inflated price, that's why lotto homes is always sold hundreds of thousands less.

[Chandler_Racing]

Originally posted by Brent.ff
strange, chick at work was just telling me her friend kept the one they won in Mahogany, and sold their old house. I couldn't imagine keeping it..definitely sell, and pay off my mortgage

Likely my neighbor, personally if the house was nicer than mine I would sell and move into the new one.

[ee2k]

I'd sell in a heartbeat. Those homes were not customized for my use and/or taste. The one last year at Stampede seemed very soft and more feminine decor and design wise.

And then there's the suburbs issue ...

[ee2k]

I'd sell in a heartbeat. Those homes were not customized for my use and/or taste. The one last year at Stampede seemed very soft and more feminine decor and design wise.

And then there's the suburbs issue ...

[max_boost]

yup. I would sell instantly haha

[colinxx235]

The people who won the one in Mckenzie lake (longgg time ago) kept theres, was such an eye sore that didn't match any of the community style... people were not happy with it being put on that corner

[Buster]

Does it say anything about the rate of putting rimz on your mercedes whip?

[Buster]

Originally posted by colinxx235
The people who won the one in Mckenzie lake (longgg time ago) kept theres, was such an eye sore that didn't match any of the community style... people were not happy with it being put on that corner

what house was it?

[jacky4566]

Originally posted by dj_rice
Makes sense. We're not all ballers being able to afford heating/water/property bills living in a home like that.

Without rent/ mortgage payment you could easily budget those expenses. Not in favor either way just dont think that logic makes sense to me.

Hell i bet you could rent out your current home and that income would pay for the living expense on the new home. win win.

[zhao]

I walk through them every year because they've been building them a couple blocks from where I live for the last few years, and they're all pretty much terrible for design.

one the entire bottom floor was dedicated to a hot tub and steps going up to it.... there was another with a fake hockey rink. another with a putting green. They all have these glass railings so low it feels like they are at my knees (not exactly kid friendly). I remember one that was so poorly designed that we went to see it on a sunny day in the middle of winter and the upstairs temp read 28 degrees because of how much sunlight focused down in to it. Enjoy that in summer when outside is +30 not -15

and yet all these houses have the same living accommodations; massive shitty designed kitchen (one you couldn't open the fridge doors without hitting hte island), barely any private livingrooms, massive master suite that takes up 1/3rd the house, and a maximum of 2 of the shittiest shit bedrooms. They also never have a private den or office.... just something out in the middle of everything, like you want every single person ever to see you doing computer shit and work.

a couple years ago we walked into a show home next to the lottery home for about half the price and it was miles better in every way. I'd say these lottery homes dont get sold at a discount to dump them fast, they get sold at a discount cuz they suck and are over inflated for price.