Meg Ryan is set to make a killing on her Montecito home which she’s listing for just shy of $20 million, having purchased it for way less than half that amount — as friends applaud her incredible knack for the real estate market, sources exclusively tell In Touch.
“Meg seems to have this natural instinct, not just for what properties to buy, but also how to improve them to up the value,” insiders say. “This house is something like the 10th or even 11th home she’s renovated and flipped for a massive profit.”
Tipsters note that Meg, 63, is “not one to brag about money but she’s made close to $40 million over the years doing this and she has no plans to stop.”
The What Happens Later actress purchased her listed two-acre Montecito mansion located on Picacho Lane in August 2021 for $9.5 million and put it on the market in February for $22.5 million, later cutting the price to $19.5 million.
The movie star added nearly 3,000 square feet to her newly renovated ocean-view property, upgrading the entryway with a stunning porch, also including three fireplaces to the living room, primary bedroom and patio.
As for the interior, Meg opted for modern farmhouse styling, incorporating walls of glass, an enlarged kitchen and fresh fixtures to give it a new look.
Meg Ryan
The listing boasts of its beautiful grounds and gardens, also mentioning the flexible floor plan which has great spaces for work, play and family time while “the elevator supports all of life’s seasons.”
It seems Meg is only getting started as she is continuing to utilize her talents both on screen and off screen.
“She’s already got her next project in the Hamptons lined up. She bought it for $13.5 million but knowing Meg she’ll double her money by the time she works her magic on it,” sources add.
“She has an eye for design, it’s a true passion for her and something that comes very naturally. These homes are all a labour of love for her, it’s not motivated by money. That being said, the money has been a big help over the years since she took such a long break from work,” the insiders continued, revealing that home renovations have become a cherished creative endeavor for Meg.
“If she didn’t have this side gig as a real estate wiz she probably would have had to take on more film projects,” the sources concluded.
The When Harry Met Sally… icon spoke about her hobby in a 2017 interview with Architectural Digest and revealed that it’s been a wonderful way to express herself.
“I know it sounds crazy to most people, the idea of renovating that many houses,” she explained. “But I love renovating. I think it’s tied to living the actor’s life. As an actor, you are so rarely in control.”
“You’re always saying words that someone else has given you, standing in a room that someone else has designed, to create a reality that someone else wants to see,” Meg added. “But with decorating I am in control; it’s a chance for me to bring my vision into the world.”
