Raffles have been around for a long time. Like with anything else, a sense of "been there, done that" can set in. But there are a lot of ways to spice things up. One popular option over the last few years has been to go bigger with the prizes, and you don't get much bigger than raffling off a house.

Brick by Brick

One of the common misconceptions about raffling off a house is that anyone can do it. That's just not so. As with any other raffle, a non-profit organization of some sort must be involved, with all proceeds going to that group. A private citizen with an itch to move can't decide to hold a party and sell Raffle Tickets – in most states, that's considered gambling, which is illegal.

The cost of holding a raffle for such a big ticket item can be steep, particularly considering all the costs involved in owning a home. Those same costs can also increase the amount of time and effort it will take to organize the event. However, there are positives to offset these negatives.

Full House

First and foremost, it's much easier to create interest in a raffle when it's for something as large as a house. While a local charity function might garner a newspaper article or brief local television news segment at the end of the broadcast, raffling off a house instantly generates more excitement because the prize is so large and such raffles happen so rarely.

Also, depending upon the size of the house, you have a built-in venue to hold the function. If the house is staged correctly, you can also sell more tickets this way, as people are able to walk around and become more impressed with the prize.

So, while raffling off a house might seem like a big task, there are ways to make it easier. The main thing to remember is that with a big a prize comes a big reward!