Celebs Who Sold Homes For Much Less Than They Bought Them For
Some people think of real estate as an infallible asset, but unfortunately, in the right (or should we say wrong) circumstances, even beautiful homes can be anything but an investment. For anyone, from the average person to the biggest stars in the world, homes can sell for much less than the buyer paid for them due to an array of scenarios.
According to Management Study Guide, one of the biggest reasons that a seller will send their property on its way for much less cash than they hoped for is seller duress, such as when a person gets divorced and needs to find a new pad (or, alternatively, is getting married and is ready to move on with their new beau), or needs to recoup financial losses.
For some of these celebs, we'll never know for sure why they accepted far less than what they paid for their jaw-dropping homes — in some cases, hundreds of thousands or even millions of dollars. But luckily for them, especially those netting millions of dollars per year, it's often just a drop in the bucket.
Kaley Cuoco sold her Tarzana Mediterranean mansion for a $1.4M loss
Earning nearly $25 million in 2018, according to Forbes, Kaley Cuoco was one of the highest-paid television actresses when she was on "The Big Bang Theory" during its 12-year run. Hopefully, then, the $1.4 million she lost on her Tarzana, Los Angeles home when she sold it in 2020 didn't hurt her wallet too badly. Cuoco sold the home, formerly owned by Khloé Kardashian and Lamar Odom, for $3.95 million after buying it six years prior for $5.499 million, according to the Los Angeles Times. To make matters worse, the selling price was $3 million less than Cuoco's original asking price of $6 million. A similar fate befell her Sherman Oaks home when she sold it for $500,000 less than she paid for it six years earlier.
Cuoco updated the 8,000-square-foot Tarzana home's two floors while she lived there and when she sold it, it featured a private movie theater, six bedrooms, eight bathrooms, and a living room equipped with a wet bar. Outside the Mediterranean-style estate, there's a charming swing near the front door, an outdoor kitchen ideal for entertaining, and a swimming pool with its own spa, adding to its resort-style appeal. The home, atop 3/4 of an acre, is also located inside a small gated community with only seven other mansions, reported Dirt. And, adding to its celebrity-worthy privacy, it's located behind wrought-iron gates.
Christina Aguilera sold her Hollywood Hills modern pad for a $35K loss
Christina Aguilera was at the height of her fame when she purchased her Hollywood Hills home in 2003 after her album "Stripped" was released. But when she sold the 6,500-square-foot home with four bedrooms and seven bathrooms in 2011, it netted $4.65 million, which is $35,000 less than the $5 million she paid for it. That $4.65 million was a far cry from the $7.995 million that Aguilera was originally asking for, according to the RealEstalker (via The Hollywood Reporter.)
The selling price might not seem like too much of a loss for a singer that's worth $160 million, according to Celebrity Net Worth, but unfortunately, Aguilera also pumped a lot of money into the modern home on the Bird streets. She did several remodeling projects while living there, and also hired home designer Steve Hermann to give it a total revamp for nearly $350,000. The mansion also has several buyer-friendly amenities, like a private recording studio, screening room, spa that can accommodate 12 people, outdoor fireplace, and amazing views that allow the owner to check out everywhere from the downtown area to the Pacific Ocean.
Adele sold her Sussex country estate for a $1.3M loss
While Adele was married to now-ex-husband Simon Konecki, the pair lived in an 18th century eight-bedroom home set atop nearly 50 acres in Sussex after buying it in 2017 for $5 million. But just two years later, Adele and Konecki were no more, and the home sold in 2019 for $3.7 million to a financier, reported The Sun.
Sources had previously told The Sun that Adele and Konecki chose the country estate because of the privacy it offered, which is a familiar theme for Adele. She and Konecki married in secret in 2016 after starting their relationship in 2011. A $173 million divorce followed afterwards, but things don't seem to be all bad. Adele spends most of her time in Los Angeles living in a home that neighbors Konecki's abode, making it easy for the formerly married pair to co-parent their son, Angelo.
Leonardo DiCaprio sold his NYC wellness-focused condo for a $2M loss
With a long-running Hollywood career and a $260 million fortune, according to Celebrity Net Worth, a $2 million loss on a New York City condo in 2016 was likely just a blip for Leonardo DiCaprio. He bought the Greenwich Village home with 3,600 square feet in 2014 for $10 million, but sold it for only $8 million when he unloaded it just two years later. The sale price is even more baffling considering the uniqueness of the condo. It's located in a six-unit boutique building featuring wellness-focused amenities like posture-supportive Siberian oak flooring, a circadian lighting system, a master bath that assists with balance and restoration, purified air and water, in-duct aromatherapy, a kitchen herbarium, and even vitamin C-infused showers, reported Mansion Global.
The condo building, located at 66 East 11th Street, has a more than 100-year history that began as a dress factory. While DiCaprio owned his unit with two bedrooms and 2.5 bathrooms, a former Bill Clinton advisor rented the space for $25,000 per month, so the actor likely didn't spend too much time there throughout the two years that he owned it. Plus, at the time, DiCaprio also owned two apartments located right next to each other (possibly with the intent to combine them) in Battery Park at 2 River Terrace, according to the Observer.
Rihanna sold her Beverly Hills home for a $1.9M loss after extensive water damage
Rihanna bought an 8,500-square-foot Beverly Hills estate for $6.9 million in 2009, but just three years later, the three-story home's value plummeted due to newly-discovered extensive water damage; it sold as a short-sale for just a little more than $5 million. However, the singer didn't let her lemon of a house go down without a fight. She sued the former owners, the inspection firm, the engineer, and her buyer's agent after a 2010 rainstorm which left the house leaking and waterlogged, according to Curbed. The former owners renovated the house just two years before the devastating rainstorm and according to Rihanna's lawsuit, her broker failed to share sales of nearby homes to justify her purchase price. Additionally, the home's actual value was millions less than Rihanna paid, said another Curbed article.
The listing for Rihanna's damaged home, according to Curbed, made it painfully clear what the owner following Rihanna would have to deal with. It said, "Home is a MAJOR fixer with EXTENSIVE water intrusion from (but not limited to) roof, windows, doors and balconies. There is EXTENSIVE damage from moisture AND water intrusion. Also encroachment issues and other problems. The home is being sold strictly AS-IS and will be subject to a short-sale." However, on a brighter note, the home, which was built in 1966, sits atop almost an acre and is still a celebrity-worthy mansion with eight bedrooms, ten bathrooms, and a pool.
Britney Spears sold her Studio City Mediterranean estate for a $2.5M loss
2007 wasn't kind to Britney Spears. It was the year when she was infamously photographed shaving her head after seemingly endless trolling by paparazzi. She also lost custody of her two sons, and was hospitalized against her will for reported mental health issues. It was also the same year Spears bought a home in Studio City for $6.75 million, which eventually led her to lose $2.5 million when she sold it for $4.253 million five years later, according to Insider.
Spears bought the then-11-year-old Mediterranean-style home right after her divorce from Kevin Federline. It featured five bedrooms, six bathrooms, a swimming pool, a master suite with its own fireplace, maid's quarters, and about 1/3 of an acre of property at its location inside a 24-hour guard-gated community, reported the Los Angeles Daily News. When Spears first listed the 7,500-square-foot home, she was asking $7.9 million, but without competitive offers, the price continued to drop. However, since she was under a conservatorship at the time, it's impossible for fans to know exactly why she or her conservators were so eager to sell the mansion for such a loss.
Ryan Reynolds sold his Hollywood Hills property for a $310K loss
With their adorable jokes and sweet family, Ryan Reynolds and Blake Lively practically seem like an old married couple by now. But in 2014, they were a newly-married pair and Reynolds was eager to leave his Hollywood Hills home behind and head to New York to be with her. So, he sold the home, which he bought seven years prior for $1.7 million, for a $310,000 loss when he finally offloaded it five years after putting it on the market, reported Trulia. When Reynolds first listed the Outpost Estates property in 2009, he had an ambitious price of $1.9 million, but without any reasonable offers, he continued to take it off and put it back on the market for lower prices each time.
Despite its less-than-robust buyer pool at the time, the 1,800-square-foot home at the end of a cul-de-sac and above the Sunset Strip had amenities like French doors, hardwood floors, solar heating, a chef's kitchen, high ceilings, an abundance of natural light, and hardwood floors, according to its listing. Outside, the home gets even more stunning thanks to its amazing views of California canyons, a walled and gated courtyard ideal for privacy, and a huge patio surrounded by manicured landscaping, making it a perfect spot for entertaining. There's even a bonus space in the finished garage, which could easily serve as an office or studio, all just minutes from the bustling shops and restaurants of the city.
John Mayer sold his Pacific Palisades pad for a $475K loss
John Mayer is known as a laid-back prince of blues, but he likely wasn't feeling quite so calm when the Pacific Palisades home he bought in 2006 for $1.75 million only sold for $1.3 million just five years later, said the World Property Journal. The two-story home dates back to the 1970s and includes features like floor-to-ceiling windows with jaw-dropping views, four bedrooms, 2.5 bathrooms, stained glass doors, marble countertops, stainless steel appliances, a breakfast bar, media room, dressing room, and a walk-in closet within its 3,600 square feet, reported Variety. Outside, there are several concrete patios ideal for entertaining, a walled courtyard, and firepit, all backed by a hill of undeveloped land which provides privacy.
According to listing photos shared by Variety, Mayer brightened up the home with standout colors like a royal blue rug at the base of the fireplace in the living room, purple curtains marking the stair entry to the second floor, and purple shelving in the dressing room. Otherwise, though, the house appeared to be in typical Los Angeles-modern style with tons of bright and airy windows, clean edges on the back-of-house façade, and hardwood and tile floors throughout the space. Mayer kept some of his décor in line with this theme with his minimalist dining room table, low couch, simple plush chairs, and white cabinetry. But one thing very reminiscent of Mayer stood out: a grand piano near the dining set.
Glenn Beck sold his colonial Connecticut estate for a $700K loss
When Glenn Beck first listed his New Canaan, Connecticut farmhouse at the end of 2009, he was already expecting to lose some cash. He listed it for $3.9 million after purchasing it four years prior for $4.3 million. However, it still took about a year and a half to sell and netted even less than that asking price at only $3.6 million, according to The Atlantic.
The 8,700-square-foot Colonial-style lakefront mansion with six bedrooms and 5.5 bathrooms atop 2.87 acres seemed to reflect Beck's conservative taste. It featured traditional touches, despite the home being built in 2004, like dark wood details, four fireplaces, herringbone wood floors, and, of course, an American flag in the foyer. There are also modern touches, though (Beck did make $23 million the year before he sold the home, according to Forbes) like a four-car garage, a finished walk-out basement, and a second-floor laundry facility. Outside, the home is surrounded by stone walls and white fencing, an in-ground pool and spa, and a large, lush lawn, all capped by a massive flag on a flag pole, reported Variety. However, don't expect to get a good view of the mansion if you're planning a drive-by. It's surrounded by lush forestry, which maintained Beck family privacy while they resided there.
Lena Dunham sold her Brooklyn apartment for a $300K loss
After actress and filmmaker Lena Dunham and singer Jack Antonoff parted ways in 2018 after five years together, Dunham left the Brooklyn home they shared together and purchased a three-bedroom bachelorette pad. Located at 60 Broadway also in Brooklyn, the nearly 2,000-square-foot sunny corner unit with 2.5 bathrooms featured crisp, white, and minimalist details. Regardless, it clearly didn't sit well with Dunham. Just two months later, she put the apartment on the market with a slight increase in price. She purchased it for $2.9 million and listed it for $3 million, reported Observer. Unfortunately, it didn't work out for Dunham. After months getting stale, she took the listing off the market in December before relisting it for just $2.65 million. Finally, that price came to fruition for the most part, at $2.63 million the following July.
Located inside the full-service Gretsch building, Dunham's apartment with Manhattan views came set up with a doorman and a library lounge inside the structure. Her modern, open kitchen had Carrara marble countertops and top-of-the-line appliances, like SubZero, Wolf, and Bosch. It opened up to the living room, which had a gas fireplace and a cozy built-in dining space, making the most out of New York City apartment limited square footage. Dunham's master suite also had built-in touches, like a raised platform bed, walk-in closet, and a gorgeous marble bathroom.
Olivia Wilde sold her cozy Los Feliz property for a $100K loss
Unfortunately, not a lot worked out in Wilde's favor when it came to her former relationship with comedian Jason Sudeikis. After two children and nearly a decade together, the pair called it quits in 2020, which also meant ending their seven-year engagement. Well before that, Wilde lost about $100,000 in the sale of her Los Feliz, California home in 2013 when she sold it in order to move to New York and buy an apartment with Sudeikis, said the Los Angeles Times. Two years before that, she bought the property for $2.295 million after splitting up with Italian prince and filmmaker Tao Ruspoli; she'd expected to make $200,000 in the sale, listing it for $2.495 million. But when Wilde sold it about six months later, it only netted $2.19 million.
Despite its lackluster purchase price, Wilde's Mediterranean stunner of a home touts four bedrooms, three bathrooms, a history dating back nearly a century, a quick commute to Hollywood, a paved sun deck, and a charming exposed beamed roof, reported the Daily Mail. Neutral white walls and a white exterior bring about calm vibes, as does the California mansion's wood floors and other rustic wood touches, a tiled kitchen with a mix of traditional and modern styles, and a library leading straight to an outdoor gazebo.
Charlie Puth sold his secretive Whitley Heights mansion for a $100K loss
When singer-songwriter Charlie Puth bought his Whitley Heights, California home in 2015 for $1.9 million, the former YouTube star was in the early days of his career. Luckily, he was in a much better financial position when the home sold in 2018, since it unfortunately only sold for $1.8 million after two years on the market and multiple price dops, reported Dirt.
In true celebrity style, Puth's Spanish-style former home was hidden behind lush green hedges, effectively shielding its 4,350 square feet, three stories, four bedrooms, five bathrooms, and pool house with its own bathroom. Although the house clearly has Mediterranean aesthetics, it also has classic details like dark wood floors, a vaulted ceiling, a fireplace, a library with built-in shelving, and French doors. There are also lots of modern touches like an open living and dining room space and a built-in media cabinet in the family room. But downstairs, it's the master suite that's really the show-stopper. That includes its own sitting room, fireplaces in both the sitting room and bedroom, two walk-in closets, and a bathroom with an enormous tub outfitted with jets. On this floor, there are also two guest bedrooms. Further down, the lowest floor has views of the pool and the spa as well as a second kitchen, a laundry room, another guest bedroom with its own bathroom, and a wine cellar.
Jennifer Aniston sold two NYC apartments for a combined $500K loss
When Jennifer Aniston bought a one-bedroom penthouse and a one-bedroom 17th floor apartment, one right above the other, she intended to combine the two West Village properties to create a stunning 2,000-square-foot living space in one of New York City's most coveted neighborhoods. However, after buying the apartments for about $7 million, she had a major change of heart due to the press that trailed her every move. "We tried New York. It was a little rough with the paparazzi. It didn't feel like the New York I grew up in and knew," she told Australia's "The Kyle and Jackie O" Show (via the Greek Reporter.) Aniston sold the apartments for $6.5 million in 2012, according to the New York Post.
Zillow said (via CBS News) that the penthouse apartment featured views all the way from the New York Harbor to the Empire State Building, original hardwood floors, and a 900-foot outdoor terrace creating a breezy escape from the city. The listing broker went as far as to tell the New York Post that the terrace was one of the most beautiful in the entire city.