How Did The Baeumlers From Renovation Island Make Their Money?
It doesn't take a genius to figure out that the Baeumlers of "Renovation Island" live a cushy life. The HGTV superstars have made a name for themselves in the home improvement space thanks to their impressive ability to take properties from drab to fab. Bryan Baeumler and his wife, Sarah Baeumler, have a combined net worth of $20 million, with a considerable chunk of it coming from their string of construction shows (via Celebrity Net Worth).
With their padded bank accounts, the Baeumlers aren't afraid to gamble money on their passion projects. They told People they spent a whopping $2 million to buy the Caerula Mar Club resort featured on the show, which used to be an abandoned hotel they chanced upon while on a trip to the Bahamas. In an interview with The Wrap, the couple also dished that they were initially only planning to spend $4 million renovating the whole place but ended up shelling out $10 million to make it the way they imagined.
Now you may be wondering how the Baeumlers managed to have $10 million lying around with their HGTV shows being their only known source of income. As it turns out, they are also running a construction company that Bryan established at the start of his career.
The Baeumlers run a construction company
Life would look much different for Bryan Baeumler if he chose to work in the industry he once studied. According to his website, he has a degree in political science and business and initially planned on becoming a lawyer. He later realized that he was much more passionate about building, which first began when he was 14 and had worked as a handyman for his neighbors.
In an interview with Dickies, Baeumler shared that after getting his degrees, he suddenly had an epiphany and made a vow to himself to pursue what he loved. Instead of going to law school, he went to trade school. "I don't know the exact moment it happened, but it was like a light bulb went off and said: 'You should just do what you love doing and pursue a career in the trade,'" he recalled. "And that was it, I went back to trade school and did my renovation technology and the building code updates, and I went and bought a truck and filled it with tools and put my name on the side."
His business then grew to what is now known as Baeumler Quality Construction, which offers a "full-service construction process" and specializes in "developing unique and innovative living spaces."
The Baeumlers are smart about their money
Bryan and Sarah Baeumler are where they are because they clearly have a handle on their finances. They may be okay with coughing up millions on renovation projects that aren't guaranteed to pan out, but the couple makes it a point to prioritize saving. Speaking with the RBC Royal Bank, Bryan advised young people to plan for their futures as early as they can. "You may not be thinking about home and children now, but why not plan for this scenario so that the options are there for you? One day you may want to go down a different path," he said.
The power couple also believes in the power of tenacity. Bryan said that even if your plans didn't turn out as you envisioned, you always have the option to start fresh. "The worst case scenario, whatever you can imagine the worst case scenario to be, isn't the worst case scenario," he told HGTV. "Every morning you get up, you have an opportunity to do something wild and crazy. So really, the worst case scenario is not waking up tomorrow, but then anything failing that (losing all your marbles, going broke) no matter what happens, you can still get up tomorrow and try again."