With lenders being much more stringent on mortgage loans over the past few years, having an ample down payment on new home purchases has become an essential factor for those who plan to finance the cost of their property.
But what if you only needed to come up with $150 for securing your next “dream house”?
That could be the extent of your initial investment if you’re interested in purchasing a ticket for the Palos Verdes Art Center’s dream house raffle. The grand prize – the mid-century “Anderson House,” which sits high on a cliff overlooking the Pacific Ocean.
Originally constructed in 1959, this true work of art was designed by Aaron Green, a colleague of Frank Lloyd Wright. The home, which features redwood paneling, walls of glass, and a breathtaking stone fireplace, was initially built for Judge F. and Jeannie Anderson, and it is now valued at approximately $4 million.
With its sharply angled roof lines, the home’s interior is warm and inviting – and it offers just the perfect mix of both indoor and outdoor features – including a backyard pool that is situated adjacent to a tranquil courtyard.
As an aside, if owning a home (or another home) just isn’t in the cards for you, the raffle winner can choose instead to take home a cash prize in lieu of the house (as long as a minimum of 75,000 tickets have been sold by April 14th).