HGTV Dream Home Turns into Nightmare
July 12, 2006 05:02 PM
Here is the picture of the home Don and Shelly Cruz won in HGTV's Dream Home Sweepstakes. At 6,000 square feet, it has a "massive great room with 30-foot ceilings," a six-foot-wide fireplace, a master bedroom suite with a hot tub, an indoor elevator, an outdoor pool with fireplace and a dock/guest house--and every other furnishing and amenity available. The Cruzes also won $250,000 in cash, and a GMC Denali.
Not a bad prize! But, not all is well with the dream home. Not only are the bulbs burning out in the Great Room (they'd need scaffolding to replace them), they also got hit with a $672,000 tax bill on their winnings. And, it turns out they don't own the land the house sits on--they just have a 30 year lease with the option to renew. And on their income, there is no way they can keep up with the expenses. They have tried to put the home on the market, but no one is interested in a house that size in rural Texas. It turns out the Cruzes are the only winners in HGTV's 10-year long Dream Home program who have actually tried to live in the house. Money Magazine weighs in on how they can get out of the mess. Money's conclusion is that it cannot possiblely work financially, and the Cruzes will have to move.
We have to admit though, it would be tough to give up the dock house:
Much more tasteful than the main house... Maybe they could just live there?