Keith, Evan and the rest of the Bargain Block team have now renovated dozens of homes in the Detroit area.
Bargain Block works exactly as its name suggests and sees the hosts transforming entire blocks of houses into stunning starter homes which can then be sold at bargain prices.
The hosts of the show, Keith Bynum and Evan Thomas, moved to Detroit in 2017 and have since completed the renovations on about 40 homes.
What Bargain Block is all about
Bargain Block follows designer, Keith Bynum, and carpenter, Evan Thomas, as they restore and renovate a series of unwanted homes which are located in the Detroit area.
But instead of focusing on selling their newly-refurbished homes for top dollar, the way that many HGTV hosts have done in the past, this duo actually focuses on ensuring that their homes appeal, both in aesthetics and financially, to first-time homeowners who are looking for the perfect low-cost starter homes.
By keeping their costs to a minimum and buying entire blocks at a time, Keith and Evan are able to transform these areas “one house at a time”.
A look back at Bargain Block’s progress
The first season of Bargain Block started airing all the way back in 2019, but Keith and Evan actually set their sights on Detroit, Michigan way before that. Keith realized back in 2017 that he and Evan would be able to take advantage of the Community Financial Credit Union and the Detroit Land Bank Authority’s services in order to purchase multiple homes on the same block.
Since these homes are usually destined to be demolished anyway, the duo has managed to scoop them up for as low as $1,000 per house.
These incredibly low purchasing costs and bulk-buying strategy has allowed Keith, Evan and the rest of the Bargain Block team to renovate about 40 homes by June 2023.
This means that the Bargain Block team has maintained an average of more than 10 completed homes in every season of the show, so far.
And even with such an impressive feat behind them, Evan and Keith still have plans to step it up with every new season.
Before the premiere of the show’s most recent, third season, Evan told Fox 2 that they had no plans of stopping this journey, stating “I think we’ve taken a step up on both the design and the construction, and I think we’re in the groove of how to do it, so I’m just really happy to keep going.”
Keith has been renovating homes since childhood
Evan and Keith may have only seriously considered turning flipping into a full-time business after Evan finished graduate school and they decided to move to Detroit, but Keith has explained that his love for renovations started at a very young age.
Before Keith started building tiny houses in Colorado, or even flipping starter homes in Detroit, he honed many of his home renovation skills in his youth. He did this whilst helping his parents with renovations on his childhood home every summer.
Why Keith and Evan chose Detroit
Realistically, Keith and Evan could have implemented their “design flair on a budget” house flipping philosophy in just about any area in the country. But it was ultimately Detroit’s low entry costs which convinced Keith to consider this area for the show.
The first home that Keith bought in Detroit in 2017 (before they even had plans to turn their house flipping into a reality television show) only set him back $12,000.
Keith later ended up selling the home for $64,000 (the highest price in the neighborhood at the time).
The duo’s motives were not all business-related, though, as Keith has also admitted that he was attracted to Detroit because of the area’s reputation for being a “mecca” for the art community and creatives.
Bargain Block’s long-term strategy
Although Bargain Block has not yet been renewed for a fourth season, the series has performed fairly well up to this point, and even managed to bring in about 18 million viewers in its second season.
And fans are hopeful that Bargain Block’s season four renewal will be announced very soon.
Interestingly, this next season may be the first in which fans finally get to see Bargain Block’s long-term strategy reflected in the selling prices of their renovated homes.
Keith and Evan focus on buying as many houses as they can in the same area and then selling these homes for about $100,000.
This, as the show’s hosts have explained “sets the comps”, which then, in turn, allows them to raise the prices slightly in the next nearby-area where they purchase several dilapidated homes.
