Anyone who has bought a ticket in lotteries such as the Princess Margaret Welcome Home Lottery has dreamed of winning a beautiful new home. The dream of owning a multimillion dollar home for many people, but it seems most past winners consider that turning around and selling the prize home doesn’t always generate the same amount the prize is deemed to be worth. Also, many people haven’t thought about uprooting your family and moving to an entirely new part of town. Past winners did no want to pay property taxes that (on the home awarded to last year’s winner) would cost about $27, 000. This year approximately 50,000 people are expected to visit & view the grand prize home. Previous winners might not have sold for the full amount they thought the home would be worth, but winners agree that winning the free house has made them wealthy, and they have great things to say about the Princess Margaret Welcome Home Lottery.

When the total value for the prize is determined by the Princess Margaret Welcome Home Lottery promoters, they take into account all of the decorating, furnishing, legal fees, land transfer taxes, promoting, etc. If you live in Newmarket or Aurora, it is a big decision to move your family and employment to Oakville.
On the other hand The Princess Margaret Welcome Home Lottery does cover the land transfer taxes, real estate fees, and legal fees.
Some might be ticket holders, others might become ticket holders after visiting, although it’s safe to say most are there to satisfy their curiosity about just what a big-time show home looks like. But comparable resale values in the area, which are used to determine an asking price for the sale of a home usually don’t include all of those extra factors.
It is appealing to not have a mortgage, but there are other expenses and considerations like property taxes, being close to employment, friends, and family.

Winners of this year’s show home will receive $25,000 cash to spend at their discretion, whether for moving costs or covering property taxes while the home is for sale. Promoting the dream of living in a luxury home is key to why the Princess Margaret does not offer a cash option to winners.

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