Chip and Joanna Gaines are known for finding hidden gems and flipping them into highly sought-after (and pricey) properties. Their influence on Waco, Texas has resulted in more tourism, higher property prices, and a growing suburban neighborhood. So viewers weren't surprised when Chip began fawning over a castle in the town of Waco, and the two eventually bought it to restore.
When the restoration was complete, everyone waited to see what would happen to the castle after the Gaineses' hard work. As it turns out, not much happened—even though the couple does plan to sell the castle eventually.
Fixer Upper: The Castle Introduced The Gaineses' Passion Project
In 2019, Chip and Joanna Gaines made headlines for a big purchase and one that was close to their hearts. They bought a 1913 castle in downtown Waco, Texas,
Like many of the Gaineses' projects, the castle played a major part in their TV show Fixer Upper. The Castle got its own season, with six episodes culminating in a "big reveal." The storyline heavily played to the fact that Chip, especially, had always wanted the castle, and the two couldn't wait to get started on the renovations.
The 129-year-old property was in a sad state when the Gaineses bought it, and the family even found bones in the basement. But they put in plenty of hard work and stuck to the castle's original design and materials, sourcing reclaimed materials and antique hunting throughout the castle's season.
Joanna even abandoned her classic farmhouse style to stay true to the castle's roots, saying, "Our primary goal was to honor the significance of the home in the neighborhood and the city."
How Much Did Chip And Joanna Gaines Pay To Buy The Castle?
Given that they were passionate about the castle long before purchasing it, fans might have assumed Chip and Joanna were poised to pay a prime price for the castle.
After all, the couple had made previous attempts to buy the castle, with Chip explaining, "It sits in the center of a neighborhood downtown, so if you live nearby, you’ve driven past it hundreds of times... Ownership changed every few years, and I would make an offer every time it was listed."
It turns out it wasn't as expensive as people may have thought; Chip and Joanna Gaines reportedly paid around $425,000 for Cottonland Castle. At least, that was the listing price; it's assumed the couple paid full price or somewhere near it.
Did Joanna And Chip Gaines Sell The Castle?
As of spring 2023, the Gaineses have not sold their castle, although they have expressed a desire to do so at some point. In various statements, Chip and Joanna have said that they don't plan to rent the castle as an Airbnb or anything similar, unlike many of the homes in Waco (including ones Fixer Upper has worked on).
Chip elaborated, "I think it would be a disservice to the neighborhood if we turned this into kind of a commercial entity in that way."
Tours were available to the public shortly after the castle was completed, but it's unclear whether there was a cost involved and whether those will become an option again.
In a 2022 recap of the couple's journey with the castle, House Beautiful noted that Chip and Joanna ultimately planned to sell the property "despite all their emotional attachments."
The castle taught us that sometimes the forgotten things in life don’t need a reinvention but just a little dusting off. And the deep-seated dreams within you and me are worth holding on to. - Joanna Gaines
Many sources have speculated about the castle's potential listing price, but it has yet to be listed anywhere; most estimates guess about $2 million for the two-story home (which is somewhere between 4,300 and 6,000 square feet, depending on the source).
What Really Happened To Chip And Joanna Gaines' Famous Castle?
Various sites have suggested that Chip and Joanna have either listed or already sold their castle. While Chip has said they should and probably will sell the place, it hasn't happened just yet.
Chip said of the castle in 2022, "This is a project that I was pursuing for 20 years. The reality is we need to sell it and we should sell it."
He also said he and Joanna don't want to "live here literally," but he also seemed reluctant to give up the house, and not only because of the many years he spent chasing it.
Other quotes reflect Chip's attachment to the castle, and his ponderings over whether the family would regret selling it later, years from now, when one of their kids may want it.
What's clear is that the Gaineses don't have to be in any hurry to sell the property, given their massive net worths (specifically Joanna's) and the wealth of opportunities surrounding them.
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