Premiering on November 24th, Selling Sunset is back on our Netflix screens with a brand-new series jampacked with multimillion-dollar listings and serene, expensive views.
The cast members of Selling Sunset don’t just look at the best L.A. real estate as their jobs, they live in them too. Founder of the Oppenheim Group Jason Oppenheim commented that the home he bought in an off-market deal “checks so many important boxes that I look for in a property”, worth an eye-watering $5.1M. So just how long would it take the average person to save up for a 10% deposit for the Netflix star’s homes?
ABC Finance takes a look at the cost of each cast member’s house in Great British Pounds and how long it would take for someone on the median UK 2021 salary (reported by Statista at £31,285) to save up for a 10% deposit by putting £300 away a month.
1. Jason Oppenheim – £3,788,714/$5,100,000
With a house worth £3.7M in the Hollywood Hills, the gated 4,874 square foot property has exceptional views of the city with 20 foot high ceilings and an outdoor pool, theatre room, office, chef kitchen, and walk-in closet.
A 10% deposit of Jason’s house would be £378,871. It would take 71 years and 11 months to be ready to be in it in October 2093.
2. Chrishell Stause – £2,451,851/$5,000,000
Currently in a relationship with Jason Oppenheim, Chrishell owns her own beautiful home in the Hollywood Hills worth £2,451,851. The 4-bedroom home features a heated pool, spa, and lush landscaping.
A 10% deposit of Chrishell’s house would be £245,185. It would take 52 years to save it up – you can move in in November 2073.
3. Christine Quinn – £3,712,325/$5,000,000
The modern 4-bedroom, 5-bathroom L.A. home was bought for £3.7M in January 2019 with her husband Christian Richard. The luxurious home boasts a floating staircase, environmentally friendly fireplace, game room, and bar.
A 10% deposit of Christine’s house would be £371,233. It would take 70 years 11 months to have the deposit ready by October 2092.
4. Mary Fitzgerald and Romain Bonnet – £594,556/$800,000
Despite being one of the most successful realtors on the show, Mary’s home is rather humble and low-key in comparison to the other Netflix stars. Thought to be worth around £800,000, Mary lives in the home with her fellow cast member and husband Romain Bonnet after a divorce from her second husband. Refined style and design, her cosy and open home in San Fernando Valley in Valley Village gives the feel of an elevated farmhouse.
A 10% deposit of Mary’s home would be £59,456. It would take 15 years 4 months to save up ready to move in in March 2037.
5. Davina Potratz – £1,189/$1,600
Unlike the other Selling Sunset stars, Davina Potratz is renting a modest £1,189 a month apartment in the Sunset Strip, West Hollywood. The average rent in the UK is now at £997 (£11,964 per year), apart from London which is valued at around £1,583 (£18,996 per year). Davina’s annual spending on rent would be equivalent to £14,268 a year, which is the lowest of the cast.
While renting isn’t right for everyone, a taste of this studio apartment on the west coast of California wouldn’t set you back much more than the average rent in the UK.
6. Heather Rae Young and Tarek El Moussa- £2,318,953/$3,125,000
After recently selling their Costa Mesa farmhouse, Heather and fiancé Tarek El Moussa bought a property close to the ocean in Newport Beach for £2,318,953. Recently renovated with a whitewashed stone exterior, the private property has a front-facing balcony looking over the neighbourhood.
A 10% deposit of Heather and Tarek’s house would be £231,895. It would take 49 years 9 months to save it up, meaning you could move in by August 2071.
What about the remaining payments?
Of course, saving a 10% deposit is only half of the battle, you would also need to take out a mortgage for the remaining 90% of the property value and then pay it each month. The following monthly repayments would look like this and how much annual income you would need to qualify for a mortgage of that size:
If you’re looking to move house but you haven’t sold your existing property yet, a bridging loan could help bridge the gap you need for a short amount of time. Find out more now.