By Alyssa Mammano
Tarek and Christina El Moussa are the original stars of HGTV’s hit series Flip or Flop. The television show features the couple purchasing less-than-desirable California homes, undergoing a complete renovation and redesign and flipping the homes, usually for a large profit. The El Moussas have earned millions from their flipping business and invested $2 million of their profits to purchase a family home of their own in 2013. They then spent another $1.5 million in renovations over two years.
Tarek and Christina finalized their divorce in January of this year, leaving little time for the home’s value to appreciate before they relisted it. The exes listed the five-bedroom, eight-and-a-half-bathroom home for $2.995 million. While the million-dollar listing price increase may seem like a sizable profit on the home, it’s the renovation budget that turned this investment from a flip into a flop.
At 6,366 square feet, the home features fabulous finishes throughout. Wrought-iron railings, gorgeous stonework and stunning details make the home feel high-end. The estate sits on .44 of an acre with an 800-square-foot pool pavilion, outdoor kitchen, pool and spa with waterfalls, grotto, fire pit and putting green. The couple also built a gym by taking over two bedrooms. This labor of love will end up costing the two about $500,000 if they receive full list price for the sale.