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A Property Brothers Home Can Be Yours
Wish you had a home renovated by "Property Brothers" stars Jonathan and Drew Scott—only you don't want to bother with the hassles or stage fright of appearing on reality TV? You're in luck: A handful of homes remodeled on their shows recently hit the market, which means you can just go out and buy one right now. No audition necessary!
The two most recent listings, in the Northern California Bay Area, were renovated for Season 6 of "Brother vs. Brother," which just premiered on Wednesday. (Feel-good bonus: All proceeds from these sales will get funneled back to the local community through Rebuilding Together, a nonprofit that helps preserve affordable housing by offering free home repairs to low-income homeowners.) The third home hails from near Nashville, TN, and was featured in their original HGTV hit, "Property Brothers."
While these three homes differ in location, price, and amenities, what they all have in common is the Scott brothers' signature design sense through and through.
Still, frugal-minded home buyers might wonder: Will they have to pay more for that "Property Brothers" cachet?
Do 'Property Brothers' homes cost more than others?
Experts agree that "Property Brothers" homes won't come cheap, with prices a bit above what they'd fetch if they hadn't gained fame on their shows.
"People see value in homes featured on TV," says David Parnes, a real estate agent at The Agency who's no stranger to this phenomenon, since he regularly appears on Bravo's "Million Dollar Listing Los Angeles." "As a seller, you can't buy that kind of branding, exposure, and advertising, and they all contribute to more competition, which can't help but affect the price."
Plus, "the production value is so high that all the homes are presented in the best light, and that has huge impact and appeal."
So exactly how much more money should buyers expect to pay for "Property Brothers" homes?
Bruce Walker of Rodeo Realty estimates that these homes may sell at a 10% premium, or more depending on the property. In fact, Walker—who had sold Drew his "Honeymoon House" in Hancock Park, CA, where he now lives with Linda Phan—estimates that this home, if it were ever to hit the market, would fetch much more than a similar home that hadn't appeared on TV.
"Drew's house, because his style is what's in vogue today and it has his name attached, would probably sell for about $4.4 million," Walker says. Meanwhile, recently renovated homes of the same size in the same neighborhood would probably sell "in the high threes" (that's in millions).
Yet both agents agree that while "Property Brothers" homes may cost more upfront, they will probably retain that added value for the long haul, so it's money well-spent.
"People love a home with a good story," points out Parnes. And what better tale to tell your friends than how the Scott brothers swooped in to turn your place into the beauty it is today?
And so, with no further ado, here are three "Property Brothers" houses that have recently hit the market. Whether you're looking to buy or to peek inside these famous abodes and the latest trends therein, check 'em out!
Jonathan's 'Brother vs. Brother' house
Location: El Sobrante, CA
Jonathan paid $420,000 for this 2,586-square-foot, five-bedroom, 2.5-bath house, then poured his heart into overhauling every room to out-renovate Drew on the latest season of "Brother vs. Brother." Postmakeover, it's now a multilevel home with solar panels, a gorgeous vertical garden he planted himself, lots of clever storage space, and an open kitchen with new appliances and dedicated wine fridge.
Best of all? If it sells within a week (it's been listed for two days so far), Jonathan will throw in all the brand-new furniture and decor, worth more than $80,000.
Drew's 'Brother vs. Brother' house
Location: Pinole, CA
Drew purchased this 2,453-square-foot, five-bedroom, four-bath house for $520,000, before renovating up a storm. Apparently he beat Jonathan to market, since his home's been listed for 35 days, with a current status of "pending." That suggests a buyer might already be on board, but a deal is never done until it's done! So if you're in love, it's worth inquiring further.
According to the listing, the price includes all the designer furniture and decor, regardless of when it sells. Not only does it have a gorgeous great room and kitchen filled with Bertazzoni appliances, there's also plenty of luxe entertaining space outside, with spacious decks, a kitchen, and spa. Plus, the property has a separate studio with full-size appliances and full bath that can be rented out to help subsidize those mortgage payments.
Modern farmhouse from 'Property Brothers'
Location: Franklin, TN
On the "Property Brothers," Drew helped a family buy this 2,035-square-foot, three-bedroom, 2.5-bath home for $405,000 in 2016. From there, the brothers renovated it up the wazoo to include an open kitchen with a quartz island, designer lighting, fixtures and window treatments, plus a bonus room with a bath and skylights above the garage.
Situated on a third of an acre just outside of Franklin, TN, it's also within easy driving distance of Nashville.
And here's one where bargain hunters might be able to negotiate down that price, since it's been on the market for 47 days with no bites.
Original article posted by Lisa Johnson Mandell at https://www.realtor.com/news/trends/property-brothers-homes-on-the-market/
Heather Stanfield, Licensed Real Estate Broker in Oregon & Washington State....