Prize: a $2,000,000 house
Hello everyone, sorry that I've been MIA. Work has kept me busy. Usually around this time, I have to prepare financial statements to be sent out to all our clients. Before the release, all financial data has to be checked for accuracy. This is a long and tedious process so it's kept me from blogging.
I came across this article in our local news about a raffle winning of this $2 million home a few miles away from San Francisco. It is actually located across from the famous Golden Gate Bridge in a very expensive upper middle class community. The person who won this is only 26 years old. I heard from a friend who knows of this winner that he only purchased 2 raffle tickets for a total of $300. Can you imagine the luck he had a few hundred dollars into a couple million dollars? I knew about this raffle from advertisements and commercials, but never did I imagine that this was a legitimate contest.
He has the choice to either move into this $2 million house which would require him to pay $22,000 in property tax a year. Which is not bad if you think about it as being $1,833/mo which is far less than a monthly mortgage on a single family home. His other choice is to redeem the cash prize of $1,600,000.
If you were him, which choice would you make?
I would highly consider the sweeping view of the SF Bay in this nice and secluded neighborhood. Moreover, the monthly payment is less than 1/2 of my $3500/mo mortgage which is a plus. However, it would cost me $6 every time I cross the Golden Gate Bridge back into the city. Alright, Mrs. Bee can dream!
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