Frequently Asked Questions
When can I tour the Dream House?
From 12:00 PM til 8:00 PM, seven days a week from June 24 through August 14, 2011.
I bought a $12 tour ticket. Can my family go with me on the tour?
Yes, your immediate family is admitted with your ticket.
I understand I can save money by purchasing multiple tour tickets.
Yes, you can save money by buying in multiples of three. For instance, three tickets for $30. Remember, tour tickets make great gifts for friends and families!
Is it true that if I buy a $12 tour ticket, I might win the house?
Yes, someone (18 and over) who purchases a tour ticket will win the beautifully landscaped Dream House plus nearly all of the furnishings.
How do I know which furnishings stay with the house?
Everything with a “Y” tag on it stays with the house: most of the furniture and accessories, appliances, window treatments, etc.
What is the value of the house plus the decorating, furnishings and landscaping?
Approximately $450,000. The YMCA will have a certified appraisal done to establish a value.
Do I have to pay taxes on the Dream House if I win?
Yes, income tax based on the fair market value of the house will be due to appropriate tax agencies. (Just as if you won a car at your church bazaar or prizes on a TV quiz show.) A professional tax advisor provides the winner with a free consultation regarding these issues.
What if I win the Dream House? How can I afford the taxes?
Two possible solutions are: (1) take out a home equity loan for the amount of taxes or (2) if you own your own home and want to live in the Dream House, you can sell your current home and pay the taxes from the proceeds.
I’ve heard there is a $200,000 cash option prize.
True. Instead of accepting the house, the winner may choose a $200,000 cash option. If chosen, the cash payment would be made on December 15, 2011. Just as with the house, all taxes are the responsibility of the winner.
How does the Dream House project help the Lake County YMCA?
Proceeds from ticket sales will provide facility and equipment enhancements for all the branches of the Lake County YMCA. (The Y serves approximately 1 in 4 Lake County residents of all ages.)
How many tickets do you want to sell?
The goal of the Dream House project is to sell as many tickets as possible to provide significant proceeds for each YMCA branch.
How and when will the winner be chosen?
At 7:00 PM on August 17, 2011, the twenty semi-finalist stubs will be chosen from all ticket stubs entered. Semi-finalists will be notified by phone and by mail and invited to the drawing at 2:00 PM on August 21, 2011, where one will choose the “lucky key” that opens the Dream House. If unable to be present, the semi-finalist may choose a representative, or the YMCA will provide one.
