Joanna explains, “Chip has wanted a lake house in Waco to flip, to renovate, and any time we’ve tried to buy it, it’s either priced way too high, or it sells immediately.” Chip says that they finally found a house in the right location and for the right price.

The home they found is located on Lake Waco, not far from their home in Waco, Texas. The 5,100 square foot, five-bedroom, five-bathroom lakefront home with a pool was built in 1965. The last update was in the 1980s, and it’s in need of some serious love from Chip and Jo.

Do Chip and Joanna Gaines Still Own the Lake House?

Fans of the show are wondering if Chip and Jo decided to rent out the lake house or if they chose to keep it for their busy family of seven. While they might love a waterfront getaway with a newly renovated pool, the couple bought the property with the intention of selling it, and it has already sold. A representative from Magnolia Network confirmed to Country Living, “They bought the Lakehouse with the intention of flipping it, and they have sold it.”

If you were hoping to stay in the lake house on your next trip to Texas, you’re out of luck! But, rest assured, you can still stay at The Hotel 1928!

Katie Bowlby is Digital Director at Country Living, where she covers gift guides, product reviews, crafts, and TV shows like Yellowstone. She’s currently stitching up a cross-stitch pattern for the magazine’s next issue