The Nepo Babies with the highest value, ‘Starter Homes’
Nov 10, 2023
- Google searches for ‘nepo babies’ soared by 1918% in the last year, with over 237,400 searches monthly across the world
- Kylie Jenner bought her starter home in 2015 for $2.6m when she was only 17, despite the ‘age of majority’ being 18 in California
- Lily Collins has the most expensive starter home, with her mid-century modern estate costing a cool $12.5m
People are nosy by nature, especially when it comes to how the other half lives, and even more so when the other half has done nothing to deserve just how wonderfully they live. Like Nepo Babies.
The term ‘nepo baby’ or ‘nepotism baby’ refers to the children of celebrities who have succeeded in careers similar to those of their parents, the implication being that it’s a case of “who you know, not what you know” for these privileged children and their wealthy backgrounds.
Now, as Google searches for ‘nepo babies’ reach an all-time high, soaring 1918% in the past year, property experts at Bramlett Residential take a look at the starter homes of these lucky individuals to uncover how much their first homes cost compared to the average cost of a first home.
Top Nepo Babies’ Starter Homes Cost
Kylie Jenner – $2.6 million
With over a million Google searches to her name across the US and UK alone, the youngest member of the controversial Kardashian/Jenner clan is the most searched nepo baby this year.
The reality TV star and makeup mogul paid $2.6m for her impressive 5,100 square foot, five-bedroom home in the elite gated community of The Oaks of Calabasas in 2015 – when she was only 17 years old, and not legally allowed to buy property according to California state law.
Eric Bramlett, owner of Bramlett Residential says, “The law is very clear about at what age a person is legally allowed to do certain things, like vote or buy alcohol, but it doesn’t specify what age a person is allowed to become a homeowner.
“Each state defines its own ‘age of majority’ or the age when someone is legally considered an adult, and in California, this is 18 years of age. In the eyes of California state law, Ms. Jenner shouldn’t really have been able to purchase her Calabasas home without an adult co-signing the purchase.”
Lily Collins – $12.5 million
TV starlet Lily daughter of singer/songwriter Phil Collins bought her first home in Beverly Hills in 2016 for a cool $12.5m – the most expensive starter home of all the Hollywood nepo babies!
Aged 27, the actress lived in the 0.7-acre luxury mid-century modern estate just off of Sunset Boulevard until early 2021 when she sold it for $1m more than she bought it, in order to buy a marital home with now-husband Charlie McDowell.
Jaden Smith – (worth) $11.5m
The eldest child of on-off-couple Will Smith and Jada Pinket-Smith is in the very fortunate position of never having to buy his own starter home, thanks to his A-list parents’ portfolio of Hollywood homes and properties in trust to be gifted to their children.
Jaden, now 25, reportedly moved into his starter home in Hidden Hills, California aged 18 – a property which was purchased by the Smith Family Trust in 2003 for $3.4m, but is now expected to be worth over $11.5m
Hailey Beiber – $5 million
Model and socialite Hailey Beiber bought her first home together with husband Justin Beiber, a month after tying the knot in 2018, when she was just 21 years old.
The lakeside mansion sits on 101 acres, and it comes with private access to an expansive lake in Ontario, Canada, and set the young couple back a cool $5m. All reports suggest the Beibers still own this property, and stay there when visiting Canada.
Dakota Johnson – $3.55 million
Fifty Shades actress Dakota says she fell in love with her Hollywood Hills home the minute she laid eyes on it, and it was only the second property the then-27-year-old had viewed.
The mid-century wood-framed house comes with 3,210 square feet of living space and a generous view of the lights of the City of Angels below, and the actress has lived in her starter home since she purchased it in 2016 for $3.55m.
Eric Bramlett adds: “Los Angeles is a notoriously expensive city to live in, and so the average cost of properties there is naturally a lot higher than other cities across the country.
“Latest industry figures suggest that the average house price in LA is around $1.2m, which is more than 20% higher than this time last year, so it’s not surprising that these fortunate individuals all boast incredible properties with a much higher price tag.
“With the introduction of the Homelessness and Housing Solutions Tax in parts of LA earlier this year, properties that are valued at over $5 million are now subject to an additional 4% charge and a 5.5% charge on sales above $10 million, making the buying and selling of luxury properties much more expensive than ever before.
“Not even nepo babies are safe from housing taxes, unfortunately for them.”
ENDS
Notes to Editors
Sources:
https://www.fancypantshomes.com/celebrity-homes/dakota-johnson-house-in-hollywood/
https://www.homesandgardens.com/news/lily-collins-house
https://www.realtor.com/realestateandhomes-search/Los-Angeles_CA/overview
https://www.womenshealthmag.com/life/a45752962/mansion-tax-selling-sunset-explained/
- Categories
- Market Surveys
