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How about the episode of My Lottery Dream Home where the couple won five million dollars and were looking at $199,000 homes - or 4% of their winnings.
Some dream home.
But that nice $5 million dollar win would have been drastically decreased after all taxes were paid, even with a lump sum payout; so they might have ended up with less than $2 million dollars; in which case they might be wise to pick a home for which they could afford to maintain, do updates, and pay property taxes for years and still have enough to live on, enjoy a nice lifestyle, and have some money left over to leave the kids (or educate them, depending how old the couple was).
In Love It or List It, David plays real estate agent with a license in multiple American states and I think parts of Canada. Who over the age of 12 really believes that he is a real estate agent who found the 3 homes for the episode.?
In Love It or List It, David plays real estate agent with a license in multiple American states and I think parts of Canada. Who over the age of 12 really believes that he is a real estate agent who found the 3 homes for the episode.?
I must be gullible; I really thought he was a realtor; and either found the homes or worked with another realtor to do so. Love It or List It is my favorite of the HGTV shows. But, sheesh, I'm dying for someone to say that that you should always allow a certain amount of leeway in a renovation budget, at least $10,000, because something will go wrong, something will take too long, old unnoticed problems will appear....
But that nice $5 million dollar win would have been drastically decreased after all taxes were paid, even with a lump sum payout; so they might have ended up with less than $2 million dollars; in which case they might be wise to pick a home for which they could afford to maintain, do updates, and pay property taxes for years and still have enough to live on, enjoy a nice lifestyle, and have some money left over to leave the kids (or educate them, depending how old the couple was).
True, but then a few weeks later they showed a $1M lottery winner who wanted to see $600K homes, so some winners are willing to spend on a dream home.
It just gets me how the commercials for My Lottery Dream Home seem so much more glamorous than the actual winners request for themselves.
I must be gullible; I really thought he was a realtor; and either found the homes or worked with another realtor to do so. Love It or List It is my favorite of the HGTV shows. But, sheesh, I'm dying for someone to say that that you should always allow a certain amount of leeway in a renovation budget, at least $10,000, because something will go wrong, something will take too long, old unnoticed problems will appear....
FWIW I hate that show and rarely can watch a complete episode
Didn’t read all the posts—but has someone mentioned the people who buy a house and have kids and
1–never ask about the school district
2–never ask about taxes
3–when they go to remodel either small or large apparently never had an engineer check the house for issues like load-bearing walls
I watch episodes of this show based on location—areas I already own a home or have some personal knowledge—so just skip places like Boston or Chicago or North Carolina...
Didn’t read all the posts—but has someone mentioned the people who buy a house and have kids and
1–never ask about the school district
2–never ask about taxes
3–when they go to remodel either small or large apparently never had an engineer check the house for issues like load-bearing walls
I watch episodes of this show based on location—areas I already own a home or have some personal knowledge—so just skip places like Boston or Chicago or North Carolina...
Because a lot of us think that the HGTV programs are really an ad for housewares stores, ACE hardware, etc. And ads for products and items that you put in your home. It's one big infomercial!
I must be gullible; I really thought he was a realtor; and either found the homes or worked with another realtor to do so. Love It or List It is my favorite of the HGTV shows. But, sheesh, I'm dying for someone to say that that you should always allow a certain amount of leeway in a renovation budget, at least $10,000, because something will go wrong, something will take too long, old unnoticed problems will appear....
In all of the reno shows, it seems that there is some unforseen issue that comes up. But Love It or List It, for example, does a lot of renos in much older homes. Issues like old, erroded pipies, cracked foundations, etc., really should not be unexpected in a home near 100 years old.
In newer homes they more often find issues that aren't up to code - previous owners who updated or moved electrical, etc., but didn't do it to code. Also drainage issues and the like. Yet people always act surprised and sometimes pretty indigent. Even when working with an expert, buyers need to do some research of their own, but so many of these people seem so completely clueless that you wonder how they dress themselves.
In all of the reno shows, it seems that there is some unforseen issue that comes up. But Love It or List It, for example, does a lot of renos in much older homes. Issues like old, erroded pipies, cracked foundations, etc., really should not be unexpected in a home near 100 years old.
In newer homes they more often find issues that aren't up to code - previous owners who updated or moved electrical, etc., but didn't do it to code. Also drainage issues and the like. Yet people always act surprised and sometimes pretty indigent. Even when working with an expert, buyers need to do some research of their own, but so many of these people seem so completely clueless that you wonder how they dress themselves.
There is a new reno show - Windy City Rehab - filmed in Chicago. This lady rehabs houses, and lists the price.. so the house costs $650,000, renovation costs $900,000 and they will sell it for $2 million. Sheesh. the houses were two-story apartments turned into one huge 1 family home with 5 bedrooms - sheesh! But its very beautiful what she does. I don't understand them buying a $650,000 home, tearing all of it down except maybe one outside wall and the reno costs about twice as much more than the home. Why do they do that? And who is gonna buy a $2 million dollar huge home? (in Chicago)
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Who over the age of 12 really believes that he is a real estate agent who found the 3 homes for the episode.?
