The costs of buying famous TV and movie houses

There are an array of iconic homes for sale – and buyers will almost certainly pay extra for that pedigree.

That premium is difficult to quantify, however, because some very wealthy buyers will pay almost anything to own a piece of pop culture, real estate experts say.

“It’s like owning a Picasso” or a Fabergé egg, he said Tom Fridmana real estate agent based in Los Angeles who specializes in luxury and celebrity homes.

“You’re buying something that’s super unique and something that’s very rare,” he said.

Among recent notable mentions: the Victorian house depicted on the sitcom “Full House” hit the market Thursday in San Francisco for $6.5 million. Last month, the “Home Alone” house — the brick estate made famous by character Kevin McCallister’s booby trap — was listed for $5.25 million.

John Lennon and Yoko Ono’s first home in New York City, also a two-story SoHo loft hit the market for $5.5 million in May. The Los Angeles home of the late Paul Reubens, best known for his character Pee-wee Herman, is also For salefor about $5 million.

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Luxury real estate prices recently reached an all-time high. The very wealthy are largely insulated from high mortgage rates because many can afford to make all-cash deals, real estate experts said.

Famous homes tend to have even higher price tags than their market equivalents, these experts said.

Jos Altmana luxury real estate agent in Los Angeles featured on the Bravo show “Million Dollar Listing” estimates that the premium might be 5% to 10% if the house is linked to a “well-known” celebrity.

“There’s definitely a Hollywood cachet of ‘I bought so-and-so’s house,’” Altman said. His company’s customers have recorded stars such as Justin Bieber, James Cameron, Alicia Keys and Britney Spears.

“Home Alone” is “one of the most famous movies ever,” he added. “That definitely gets a premium in my opinion.”

The final price tag on such homes generally doesn’t matter to their very wealthy buyers, said Fridman, who has sold properties owned by celebrities, including Marilyn Monroe, Sylvester StalloneAnd Kylie Jenner and Travis Scott.

Many view the house as a collector’s item and make an “emotional purchase,” Fridman said.

Sellers can rake in a premium for a particular celebrity property through an initial asking price or if potential buyers get into a bidding war, experts say.

“They’re one of them,” says Amanda Pendleton, a home trends expert at Zillow. “Some people with resources will pay whatever it takes to own that house.”

The listing for the “Home Alone” property, outside Chicago, leans into its collector status and highlights the “rare opportunity to own one of the most iconic film residences in American pop culture.”

That house is under bid and was submitted within a week of it going on the market, said Andrea Gillespie, spokesperson for Coldwell Banker Real Estate. The sellers’ asking price is more than triple the $1.585 million they paid in 2012.

The mention For the home of John Lennon and Yoko Ono – the first time it has been for sale in 53 years – the fame of the former residents also plays a role.

“Every place they lived will have some value,” said Philip Norman, author of the biography “John Lennon: The Life.” recently told The New York Times.

Buyers of the “Full House” home have the option to getting handprints in concrete bricks of the show’s cast members, including Bob Saget and John Stamos, according to Architectural Digest.

Shame can also bring a higher price, he said Arto Poladiana Redfin luxury real estate agent in Los Angeles.

In 2021, Poladian sold the so-called LaBianca House – the house where Charles Manson’s followers murdered Leno and Rosemary LaBianca in 1969 – for $1.875 million.

The property’s notoriety generated interest and attracted more potential buyers — “and ultimately with that interest you get a slightly higher premium than without interest,” Poladian said.

The mention was aimed at buyers as “history buffs” or those who wanted to “add their accent to reimagine one of LA’s most unique properties.”

Sometimes being near a famous home can even help, he added. For example, in 2018 he has sold the house next to the house used for the filming of the original film “The Karate Kid”.

“Any type of famous house – or a house next to a famous house – will attract the attention of potential buyers and lookie-loos,” he said.

There is sometimes a ceiling on what superfans are willing to pay, Pendleton said.

She mentioned the “Brady Bunch” house as an example: the Studio City, California house – which was renovated to look identical to the house in the TV series – sold for approximately $3.2 million in 2023 after months on the market; it was listed for $5.5 million.

The publicity associated with certain properties is likely a “turnoff” for some potential buyers, Pendleton said.

Likewise, a superstar’s home won’t command as much of a premium if it isn’t updated and move-in ready, Poladian said.

For example, Kanye West – the rapper who now goes by Ye – bought a mega-mansion in Malibu, California in 2021 for $57.3 million. However, he has had difficulty selling the house, which he gutted and left in disrepair; he listed the house last year for $53 million, but recently lowered the price to $39 million. (A contractor also sued West in January and a lien may have been placed on the property make a sale difficult.)

“Kanye West can’t give away his Malibu house,” said Altman, the Los Angeles real estate agent.

But ultimately, the value of a home – whether it’s a sprawling, renowned estate or an ordinary bungalow – is in the eye of the beholder.

“At the end of the day, a house is worth what the person is willing to pay for it,” Pendleton said.