What would you do if you won a $650,000 home?
May 18, 2017 6:52am CST
St. Jude's Childrens Hospital is located in Memphis, Tennessee. Since we are the Volunteer State there are always people willing to volunteer money and and time for those in need. St. Jude's is funded strictly by donations, therefore, they are always in need. Several different areas of Tennessee do what is called the St Jude's Dream Home Giveaway. Contractors/builders/suppliers all donate their material and time to build a home that is raffled off. In Chattanooga the dream home this year is valued at $650,000. There will be a drawing next month and not only is the home given away but there are other donated prizes as well. The tickets to enter are $100 each. St. Jude is one of the charities I donate to and I try to buy a ticket each year. I bought mine almost as soon as they went on sale. All the money received from ticket sales, 100 percent of it, goes to St Jude. I don't expect to win, but if I did, what would I do with that house? Let me think about that.... What would you do if you won a $650,000 home?
Every ticket helps St. Jude kids and the mission of St. Jude: Finding cures. Saving children. Because of the support of people like you, families never receive a bill from St. Jude for travel, treatment, housing or food—because all a family should worry ab
36 people like this
I will sell such house and I will buy some cheaper real estate to give it under rent with one part of the money. Another money part I will use to invest in gold, silver and diamonds. The planned rest third part of this money I will devote to some education following the current educational trends.
We already have a house, renting is not the best solution, you pay a lot of taxes on the rent you receive. I think I would sell the house and convert the money with an annuity. More money to enjoy every month and no problems of tenants who wreck the house and (may be) do not even pay the rent.
• United States
@LadyDuck I didn't say rich people, people with enough money to pay a hefty rent. Not that it matters since I would not rent it anyway- I never wanted to be a landlord. We thought of buying a few small homes to rent out but then realized it would be a giant pain.
That's a great cause for donations. We also do our yearly donations to charities. I wouldn't like the idea of sitting in a home of that much money. My husband would probably sell it off and invest it in his business. I would probably sell it off, save a portion in the bank for rainy days and donate the rest of the money. The charities we donate to don't do this sort of thing, and we prefer it that way. We are not much of a lottery people either, so we never win anything, we just earn enough for our daily living.
• Greencastle, Indiana
well I would love to move from where I am BUT (yes I said BUT) it would be a BIG change from what we are use to on moving with 7 dogs & the location of where it was built, & the tax's. We would LOVE to have a place out in the country side where it was just us & no neighbors around & plenty of yard for the babies not far from a lake to fish & most of all FLAT land no hills & cliffs.
• United States
Taxes are not high around here...I don't think they would allow 7 dags since it is in a ritzy subdivision and they always have rules. We live in the country - flat ground, lake is abut 5 miles...lake is actually the Tennessee River. Lots of land around here to pick from.
• Boise, Idaho
I would know that I probably couldn't pay taxes on such a place much less keep it up as it should be.This is a major reason that I have not chosen to buy a home in the past. I would look it over and see if I could do any fix up on it. Then I would put it on the market. I would sell it and try to get a bit of profit if at all possible. I would use the money to go travel and check a couple of things off my bucket list.
• Boise, Idaho
@AbbyGreenhill .....That's good. I would travel to several places here I haven't seen. I want so much to see Mackinac Island where a movie I love was filmed. And then I'd like to see Ireland, Scotland, Isle of Mann, England, Paris, Vienna, Spain,Greece and Belgium.
• United States
First, I am amazed that a house like that is only 650! I live in Southern CA, and 650 is probably the average housing price here. In our school area, we probably can't even get a house for that price - they are in the 700s now - and they are nowhere near this size! Anyway. As much as we'd like a bigger house for our family, this one would probably be too big. We'd probably sell it and upgrade what we have already!