3 Properties Owned by Lottery Winners
One of the most sensible ways any lottery winner can invest their winnings is by buying a property outright. With no mortgage to worry about month-on-month, you’ve got a roof over your head for life.
Of course, for many lottery winners, it’s a chance to buy a property that’s a significant upgrade on previous homes. Whether it’s more land, bigger bedrooms, mod-cons, or flashy outdoor swimming pools, lottery winners have carte blanche to buy the dream home they’ve always wanted.
You don’t have to win the EuroMillions to have the funds to buy your perfect property either. A quick glance at the most recent Irish Lotto winner results for Saturday 13 February reveals that although the top prize went unclaimed, it could have netted someone a cool €3.75 million. This figure, which is more than enough to buy a dream home, will still be put to good use by going towards increasing funds for good causes.
Now, speaking of what lottery money is used for, many lottery winners prefer privacy rather than going public with their new, lavish lifestyles. But we’re fortunate to have the likes of Colin and Christine Weir, Ryan Hoyle, and Rick Knudsen as prime examples of lottery winners who are happy to share how they’re spending their winnings. These lucky few have all demonstrated how to sensibly invest in the property market.
Frognal House, Troon
Scottish couple Colin and Christine Weir bagged the £161 million EuroMillions jackpot, becoming the biggest lottery winners in the UK. In February 2014, the couple purchased Frognal House in Troon for £3 million. At the time, the pair opted not to live in it and instead sought to renovate their Knock House home in Ayrshire. The property, with picturesque views over the Firth of Clyde, was sold for £1.4 million, some £550,000 more than what they paid for it ten years ago.
They’ve since moved into Frognal House, which they purchased from well-known hotel entrepreneur Bill Costley. Although the couple have since split up, the 32-acre Frognal Estate remains in the hands of Christine, with the property featuring a 36,000-piece crystal chandelier, a gallery, and a billiards room.
1980s Four-Bed Detached in Greater Manchester Countryside
Lancashire-based 38-year-old Ryan Hoyle couldn’t believe his luck when he landed a £58 million National Lottery win in April 2020. At the time, Hoyle was living in a £350-a-month council flat. After going public with his win, Hoyle joked that he didn’t “need a swimming pool in Greater Manchester” due to the weather but insisted he would be investing in a property to set him up for life. Hoyle was rather savvier than most lottery winners, as he opted to buy a 1980s four-bed detached property in the Greater Manchester countryside. It wasn’t much to look at from the outside, but Hoyle is renovating it from top to bottom, just the way he wants it.
Luxury Four-Bed Mountain Home in Calimesa, Southern California
Across the Atlantic, Rick Knudsen won $180 million in the California Mega Millions lottery back in 2014. After quitting his job working with a roofing supplier, Knudsen set about creating a retirement to remember. He acquired a property in Calimesa, a stone’s throw from Yucaipa Ridge in Southern California, for $5.5 million and quickly set to work converting the property on his 50-acre plot. He spent millions of dollars on establishing a buffalo ranch next door, as well as his very own saloon and steakhouse. The property itself is labelled a remote luxury ranch, with 16,000 square feet of living space. There’s an epic cinema room, professional home gym, in-built sauna, and jacuzzi, not to mention manicured grounds and mountain views.
If that doesn’t motivate you to go and buy that next winning lotto ticket, we don’t know what will!