• Jennie Bailey raffles her family home with £5 ticket (6 US dollars)
• Family aims to sell 150,000 tickets in six months

Jennie Bailey’s friends thought she was "bonkers" when she told them she would raffle her family’s home valued at £325,000 (about 400,000 US dollars) for just one £5 ticket (about 6 US dollars).

The family has lived in what was originally a holiday home after deciding to swap their life in Manchester for the "slower pace" of the seaside village of Rhoscolyn.

However, the two-bedroom flat became a bit cramped for Jennie, her husband John, their sons Henry and Sebastian, and their cocker spaniel Dylan.

The family decided to stop waiting for the property to sell, with the children wanting "their own space."

This came after 12 months on the market and a reduction of the original £365,000 price (about 450,000 US dollars) by £40,000 (about 49,000 US dollars).

Jennie said, "I was feeling a bit stressed about it. I thought, let’s think differently and try something new."

The family owns the flat, which Jennie and John bought eight years ago as a holiday home. It is one of three flats in a converted house, with Jennie’s brother owning the ground floor flat where the family stayed when Jennie was a child.

"I’ve been visiting this place since I was two. We spent all our summer holidays here, so I’ve kind of grown up here," she said.

Jennie feels emotional about leaving but realized after her father’s death that it was time for a new chapter.

One of her friends sent her a link about a woman in Ireland who raffled her home, and the idea stuck.

"My first response was, 'Don’t be stupid, there’s no way I’m doing that.' But curiosity got the better of me, and I spent about a month researching it. I got a lot of legal advice, which was very difficult because most people don’t understand it," she said.

Jennie and John had to remove the property from the market to organize the raffle through an online platform.

Tickets cost £5 each, and their goal is to sell 150,000 tickets in six months, with a deadline of January 1.

Even if they reach their target, they will not get £750,000, as 10% goes to the platform, plus costs such as legal fees, stamp duty, and marketing.

As of Friday, the family had sold 50,531 tickets.

If they do not meet their goal, they will keep the property, and the raffle winner will receive half of the pot while the other half will cover costs.