What Would-Be Winners Must Know about HGTV's Dream Home Giveaway (2024)

The Lowdown on One of America's Most Popular Annual Sweepstakes

What Is the HGTV Dream Home Giveaway?

The HGTV Dream Home Giveawayis an annual sweepstakes from the Scripps Network's Home and Garden Television channel, which has run since 1997. Every year, HGTV uses a series of HGTV Dream Home television specials to showcase a gorgeous new home that their experts have built, then give it away. Dream Home winners receive prize packages including the house, cash, a car, and more totaling between one and three million dollars!

Since its 1997 conception, the HGTV Dream Home Sweepstakes has since grown intoone of America's biggest and most popular giveaways. How many people usually enter? The number has risen every year so far. In 1998, 2.5 million entries were received, but the 2016HGTVDream Home winner's name was chosen from among 127 million entries!

How to Enter and Win the HGTV Dream Home Giveaway:

If you want to know when the HGTV Dream Home Giveaway starts, look for an announcement toward the end of each year. Rules can change from year to year, but here are some tips on how it usually works.

Typically, entry is open to residents of the United States. To enter, you have to be at least 21 years. You're allowed to enter the Dream House sweepstakes every day, and in someyearsyou can rack up extra entries for activities like referring friends, entering through partner websites, and other methods. Be sure to check each year for changes to these giveaway rules.

You can also enter the HGTVDream Home giveaway by mail, and unlike entering online, you can enter as often as you want through the postal service.

Although it's alluring to think that you can get so many more entries by mail (some websites have even reported this as aloopholeto be manipulated), check outshould I enter sweepstakes online and by mailfor the pros and cons.

If you'd like to enter by mail, I'd suggest setting a budget first.Decorating your envelopesmight not be a bad idea, either. In their blog post about the2016 Winner Drawing, HGTV showcased several of the beautifully decorated envelopes they received. No word on whether one of them was the winner, though!

If you're curious about the winner selection process, and how HGTV fairly selects a winner from among millions and millions of entries sent online and by mail, check outHow HGTV Selects Winners.

How will you know if you've won? HGTV typically surprises their winners with an "ambush". They recruit friends and family to help set up a surprise announcement, and film the winners' reactions.

How the HGTVDream Home Is Built:

HGTV's experts scour America for the right setting for each year's Dream Home. Previous year's homes have included beach getaways like the2016 Dream Home in Merritt Island, Florida, aluxurious farmhouse in Sonoma, California, amountain retreat in Stowe, Vermont, and many other dream locations.

After the location is chosen, construction begins. From 1997 through 2015, HGTV built a brand-new Dream Home. In 2016, they broke the mold by doing a total makeover of a pre-existing house.

Either way, HGTV's experts create a home that any family would dream of owning, and document each step of the way. They show the construction on television and by free videos on their website, inspiring viewers to make similar upgrades in their own homes.

Once the home is constructed, they bring in expert interior and exterior designers to make that year's HGTVDream Home even more gorgeous.

In order to design each year's home in a way that respects and pays homage to its surroundings, HGTV uses locally-sourced materials, local artisans, and local vegetation in its landscaping.

And when the house is completely done, HGTV just gives it away.

What Do Dream Home Sweepstakes Winners Receive?

Each year's HGTV Dream Home Sweepstakes winner receives the home itself, all of the artwork and furnishings inside the home, a big cash prize, and a new vehicle. Sometimes, additional prizes, like adoggie dream homefor pets or a new boat for waterfront properties, are also included.

The total prize value routinely reaches$2 millionor more.

In some years, the winner is giving the option of choosing a cash prize instead of taking possession of the Dream Home itself. If the winner chooses this option, they receive the associated prizes like the vehicles, cash, and furnishings, but HGTV retains the rights to the house. Usually, they sell the home to a private bidder.

Take Note: Even If You Win the Dream Home, You Probably Won't Live In It

For many people who dream of winning the HGTVDream Home, finding out that you probably won't be taking up residence in its luxurious halls is a disappointment.

Why don't Dream Home winners live in their homes? While the tasteful design and luxurious details make it tempting to try to move in, most Dream Homes areimpractical for a family to actually live in. Many of the homes are too large for most families, with high utility and other costs.

But more to the point for most people, thetaxeson a prize worth over a million dollars can be crushing. SeeCould Taxes Spell the End of the Dream for HGTV Winners?for more information.

In the past, some people have criticized HGTV for giving away a home most winners can't afford to keep. However, HGTV and its parent company, the Scripps Network, gives away several homes each year, many of which are more affordable. For more information, seeWhy Doesn't HGTV Give Away a More Affordable Dream Home?

But even if you can't keep the home itself, it's absolutely still worth trying to win.For one example, read myinterview with 2005 winner Don Cruz, who had to sell his home but had a blast in the time he owned it, and made lifelong friends. If you accept that you'll need to sell the house or take a cash option, you'll walk away with hundreds of thousands of dollars in prizes, plus a once-in-a-lifetime experience.

Tour Previous HGTV Dream Homes:

Want to know what the big deal about the HGTV Dream Homes isand why so many people want to win one of these amazing homes? Here are photo tours of many of the beautiful homes that have been given away so far:

Take a Look at Past HGTV Dream Homes:
Dream Home Year:Location:
2009 HGTV Dream HomeSonoma, California
2010 HGTV Dream HomeSandia Park, New Mexico
2011 HGTV Dream HomeStowe, Vermont
2012 HGTV Dream HomeMidway, Utah
2013 HGTV Dream HomeKiawah, South Carolina
2016 HGTV Dream HomeMerritt Island, Florida

Current Sweepstakes from HGTV and Its Partners:

What Would-Be Winners Must Know about HGTV's Dream Home Giveaway (2024)

FAQs

Can you take a cash option if you win the HGTV Dream Home? ›

In lieu of taking title to the HGTV® Dream Home 2023 (and the contents of the HGTV® Dream Home 2023), the Grand Prize Winner will have the option of receiving $750,000 in cash (the “Cash Option”).

How does HGTV pick their winners? ›

How will you know if you've won? HGTV typically surprises their winners with an "ambush". They recruit friends and family to help set up a surprise announcement, and film the winners' reactions.

How much taxes do you have to pay if you win the HGTV Dream Home? ›

It is also important to note that the winner does not receive a brand-new home and a brand-new home only. They are also responsible for federal income taxes ( which can be around $700,000 ), state income taxes, property taxes, and maintenance.

How much are the taxes on the HGTV Dream Home 2023? ›

Santo said the winner also has to pay income tax. According to HGTV, the grand prize includes the fully furnished house, plus $50,000 cash, valued at a total of about $684,000. Santo says the winner will be taxed at the top federal rate of 37 percent. Add on state taxes, and they'll owe between $238,000 - $266,000.

What happens if you win a dream home? ›

The Dream Home grand prize—typically $250,000 in cash, a car, and sometimes a boat, in addition to the home itself, usually valued at $1 million or more—comes with a federal income-tax bill of about $700,000, according to an analysis by Vocativ, plus state income and real-estate taxes that vary by location.

Is it hard to sell HGTV Dream Home? ›

Even winners of home make-overs must often sell. According to HGTV, only one of the first 10 Dream House winners has been able to hang on to their winnings.

Has a Winner been chosen for the HGTV Dream Home 2022? ›

Brian Patrick Flynn delivers a jaw-dropping surprise to the winner of the cabin-inspired HGTV Dream Home 2022 in Vermont, an all-new Jeep Grand Wagoneer and $250,000.

Where is the 2023 HGTV dream home? ›

See every stunning space from HGTV Dream Home 2023, a grand mountain escape packed with high-end design and located in Morrison, Colorado.

What is the cash payout for HGTV Dream Home 2022? ›

She is the winner of the HGTV® Dream Home 2022 sweepstakes, a grand prize package valued at over $2.4 million.

How do I avoid paying taxes on prize winnings? ›

You will owe federal income taxes on lottery winnings, and depending on where you live, your state may want a cut of your money as well.
...
5 ways to avoid taxes on lottery winnings
  1. Consider lump-sum vs. annuity payments. ...
  2. Charitable donations. ...
  3. Gambling losses. ...
  4. Other deductions. ...
  5. Hire a tax professional.

Do Dream Home winners keep the house? ›

The winner of the sweepstakes walks away with the HGTV Dream Home, a perfectly renovated, brand-new home situated in a cute, often expensive neighborhood in America.

How many houses do they look at on my lottery dream home? ›

It's an opportunity most of us can only dream about: winning the lottery and then being shown around three stunning properties by a design expert. That's the concept of My Lottery Dream Home, a show hosted by David Bromstad.

What is the cash option for the HGTV Smart home 2022? ›

And the house itself isn't all. The winner will also receive furnishings, $100,000 in cash, and a Mercedes-Benz SUV for a total prize value of $1,204,365.

Can you sell a house you won from sweepstakes? ›

Selling the Property

Then, the person will need to pay federal and state taxes for the winnings. This leads to the sale of the property to potential buyers in the area. To provide a better monetary opportunity, the seller will either accept a cash award or sell the property quickly to ensure a profit from the contest.

How many HGTV Dream Home winners keep the house? ›

And, it seems the winners don't even get to enjoy their dream digs for very long. Country Living reported that by 2018, with over 20 HGTV Dream Home winners crowned, only 28% of the winners actually lived in the home for over a year.

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