St. Jude Dream Home - Furniture included? | TigerDroppings.com

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TTB
New Orleans Saints Fan
Somewhere
Member since Nov 2006
1148 posts

St. Jude Dream Home - Furniture included?



Just wondering. It doesn't say anything about it on their site. Just wondering as my wife and I toured the one in Lafayette and loved it. Ticket purchased!






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Ed Osteen
LSU Fan
504
Member since Oct 2007
17745 posts

re: St. Jude Dream Home - Furniture included?



hooray!






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CWilken21
UAB Fan
Gnawlins
Member since Mar 2005
2752 posts

re: St. Jude Dream Home - Furniture included?


They don't take a thing out. Everything you see in the house stays. We saw the one here in Metairie and it was nice.





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TTB
New Orleans Saints Fan
Somewhere
Member since Nov 2006
1148 posts

re: St. Jude Dream Home - Furniture included?


quote:

They don't take a thing out. Everything you see in the house stays.


I was thinking this was the case as it would be hard to match the decor with the way everything was painted to match the bedding, etc.. If they weren't leaving the furnishing I would think it would be smarter to leave the decor more neutral.

The house in Lafayette is one of the best they have had in a few years and the location is pretty nice. Having a pond/lake right out your back door doesn't suck either. Whoever wins it will be a lucky mofo.






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xXLSUXx
New Orleans Saints Fan
New Orleans, LA
Member since Oct 2010
8523 posts

re: St. Jude Dream Home - Furniture included?


Do you have to pay property taxes on this house if you win? Or do they give you a lump sum winning to cover that too?





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nolanola
Member since Nov 2010
4629 posts

re: St. Jude Dream Home - Furniture included?


quote:

Do you have to pay property taxes on this house if you win? Or do they give you a lump sum winning to cover that too?



That's the thing people don't realize when they win things like this. You'll need to pay taxes, insurance, upkeep, etc. for a home that may be much pricier then you already owned.






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RBWilliams8
LSU Fan
Member since Oct 2009
47226 posts

re: St. Jude Dream Home - Furniture included?


quote:

That's the thing people don't realize when they win things like this. You'll need to pay taxes, insurance, upkeep, etc. for a home that may be much pricier then you already owned.


Are you restricted (for a certain period of time) from selling it? That's what I'd do if I couldn't afford the taxes an upkeep.






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Festus
LSU Fan
With Skillet
Member since Nov 2009
68676 posts

re: St. Jude Dream Home - Furniture included?


quote:

That's the thing people don't realize when they win things like this. You'll need to pay taxes, insurance, upkeep, etc. for a home that may be much pricier then you already owned.

Yes, but you have no mortgage, and instant equity. So, you can sell the home you live in, take out that equity, and use it to supplement any additional monthly costs.

Also, you can take out a mortgage on the St. Judes home, and use whatever cash you take out to pay for all those things, and still have a ton of equity in the house.







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TTB
New Orleans Saints Fan
Somewhere
Member since Nov 2006
1148 posts

re: St. Jude Dream Home - Furniture included?


I would assume you would have to pay income tax on your winnings as well right?





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Festus
LSU Fan
With Skillet
Member since Nov 2009
68676 posts

re: St. Jude Dream Home - Furniture included?


quote:


I would assume you would have to pay income tax on your winnings as well right?

Correct. I knew someone that one it in the early years. If I recall, they took out a $40K mortgage on the home to pay all the income taxes, miscellaneous costs, etc.

That gave them a $300K house, and were paying a $40k house note. Then, they sold their old home and had all that equity to do with whatever they wanted.






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Tino
Nevada Fan
:yawn:
Member since Dec 2004
78092 posts

re: St. Jude Dream Home - Furniture included?


I would sell the house if I one and give all the money back to St. Jude's





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yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
72738 posts

re: St. Jude Dream Home - Furniture included?


quote:

That's the thing people don't realize when they win things like this. You'll need to pay taxes, insurance, upkeep, etc. for a home that may be much pricier then you already owned.





you also pay income tax on the value of the house the year you win it






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Festus
LSU Fan
With Skillet
Member since Nov 2009
68676 posts

re: St. Jude Dream Home - Furniture included?


quote:


I would sell the house if I one and give all the money back to St. Jude's

If you're being serious, you are quite a generous man, Tino.

If you did that, I believe you would be able to take the amount of the appraisal of the home as a donation, and deduct it from your income, giving you a huge tax break, by the way. You would probably get everything you paid in taxes that year back, fwiw.






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Tino
Nevada Fan
:yawn:
Member since Dec 2004
78092 posts

re: St. Jude Dream Home - Furniture included?


i can't sit here and honestly tell you you that I 100% would...but it does come to my mind when I hear of the drawing every year





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Festus
LSU Fan
With Skillet
Member since Nov 2009
68676 posts

re: St. Jude Dream Home - Furniture included?


quote:


i can't sit here and honestly tell you you that I 100% would...but it does come to my mind when I hear of the drawing every year

I've bought tickets several times over the years, and have thought about doing the same thing. But when I'm honest with myself, I usually think that having a home with no mortgage would be so tempting, and I would probably just make a big donation back to St. Jude, but keep the house.






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Afreaux
LSU Fan
Conway Bayou
Member since Aug 2007
47019 posts

re: St. Jude Dream Home - Furniture included?


quote:

I would sell the house if I one and give all the money back to St. Jude's


Let us know if you one the house.






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yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
72738 posts

re: St. Jude Dream Home - Furniture included?


I can honestly tell you that I would not give the house back





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Festus
LSU Fan
With Skillet
Member since Nov 2009
68676 posts

re: St. Jude Dream Home - Furniture included?


fin, was I correct about the charitable deduction?





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The People
New Orleans Saints Fan
LSU Alumni
Member since Aug 2008
2129 posts

re: St. Jude Dream Home - Furniture included?


Some good friends of mine one this years Dream Home in Ascension.

They had to finance the taxes on the 400K house, I think it was somewhere around 100K.








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yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
72738 posts

re: St. Jude Dream Home - Furniture included?


quote:

fin, was I correct about the charitable deduction?





you can take it but AMT is going to kick in so not all of it will be allowed






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