WHAT MAKES A PRIZE HOME with Lyn Cox

Imight have begun this story differently. You see, there was a good chance I might have won a $2.2 million prize home. Actually, it wasn’t a good chance, more of a very slim one after having bought four tickets in an Endeavour Foundation lottery.

We know it takes just one winning ticket to secure the prize, but have you ever wondered what it takes to be selected as a prize home?

I got the chance for a bit of an insight when Sunshine Coast RE/MAX principal Karl Rademeyer sold the house destined to become prize draw #446, where I held tickets.

In fact, Karl has sold three properties to the Endeavour Foundation in the past two years.

He says to be considered a prize home, a property must have the ‘wow factor’. The Endeavour talent scouts need to see/feel ‘wow’ right up front and be confident the property will entice people to buy tickets to win it.

Other elements that make homes stand out as potential prize homes include a good location and great finishes.

Those talent scouts know the property will be photographed for glossy print brochures and web sites, so they look for those potential great shots. Often it is the pool area or a particularly appealing outdoor entertaining area.

They prefer four bedrooms and a study, a pool or room for a pool, and a home that’s not too old, Karl says.

He sold 12 Homestead Drive, Little Mountain to Endeavour in June last year and the property became the 2022 Christmas prize home draw. What Endeavour purchased was an impressive single level home less than 10 minutes’ drive from beaches and Caloundra CBD on approximately half an acre. It had a large pool with huge inbuilt spa, a double bay shed with extra high doors, and zoning that allowed for an additional small free-standing dwelling.

And then they did a bit of work on it.

its million-dollar plus price tag.”

In December last year, there was almost $28 million in prize homes on offer, which would make six new millionaires. And you generally get more than just the home with add-ons such as cars, boats and gold bars in the mix too.

At the start of December last year, the most valuable win in Australia had been the RSL Art Union December 2018 draw #361 valued at just over $5 million. It was an apartment complex. Then came RSL Art Union Draw #401, drawn 21st December 2022, RSL’s biggest ever home lottery and also an entire apartment complex. This time it was worth $12,520,413 to the lucky winner. The major prize home art union players in Australia are Endeavour, Surf Life Saving, RSL Union, Mater and Yourtown. Research suggests that around 40 per cent of prize homes are sold by the winners.