Looking a Gift House in the Mouth

Sometimes getting something for “free” doesn’t mean it won’t cost you anything. Remember Oprah’s car giveaway fiasco? Apparently HGTV’s Dream Home giveaway has a few pitfalls as well. According to the Chicago Tribune:

The winners of the annual “HGTV Dream Home” giveaway loved the house but plan to sell it. Each year, the cable network builds a glorious getaway home and furnishes it to the hilt, and then gives it away in a random drawing from among hundreds of thousands of entries. Almost every year, the winner has said: “Gee, it’s great, but I can’t afford it,” and puts it on the market.

This year is no different, according to Florida media reports, which say that the Iowa couple who won the $2.2 million, three-story beach house in the Florida Keys will be putting it up for sale because the prize also comes with a $700,000 bill from the IRS, plus $20,000 in annual property taxes.

Oops, ouch, & yikes. There really is no free lunch, is there?

Author: Suzy

Hard working Knoxville real estate agent by day. Intrepid Knoxville real estate blogger by night.