"The kids are a huge part of our lives," Heather Rae Young tells PEOPLE of Tarek El Moussa's daughter Taylor, 10½, and son Brayden, 5½

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Tarek El Moussa and Heather Rae Young walk the red carpet at the JBL True Summer event. The exclusive event featured performances by DJ Sophia Eris, Bebe Rexha, and Jason Derulo. JBL is celebrating the return of live music with a donation to the National Independent Venue Association’s (NIVA) #SaveOurStages initiative
Credit: Kevin Mazur/Getty

Heather Rae Young enjoys her role as "bonus mom."

The Selling Sunset star, 33, is engaged to HGTV star Tarek El Moussa, and while speaking to PEOPLE at the JBL True Summer event at the Santa Monica Pier on Thursday, she explained how his kids are a major part of their life.

"The kids are a huge part of our lives. I'm raising the kids with Tarek and I love being a 'bonus mom.' I love kids. I never knew I was going to have kids in my life," says Young.

El Moussa, 39, shares daughter Taylor, 10½, and son Brayden, 5½, with his ex-wife and Flip or Flop costar Christina Haack. He tells PEOPLE that fiancée Young is "a rock-star mom."

"The babies adore her more than anything I could imagine. They're obsessed with her — literally obsessed with her. The four of us slept in the same bed last night," he says.

Young adds, "That's true. They're my babies and I love them. I'm just so happy and fulfilled. We're crazy busy right now. We're focused on our careers, as well, so a baby is just not in the cards right now. But you never know what's going to happen." 

"You never know," says El Moussa, as Young says, "But right now, too much."

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Young recently opened up during an appearance on E! Daily Pop about the possibility of having kids in the near future with El Moussa.

"We actually talked about this, because I'm turning 34 this year, which isn't old obviously, but I already feel like I have two kids," she said. "I'm raising Tarek's babies, and we have them 50 percent of the time. I am such a good bonus mommy. I adore those kids. I raise them like they're mine. I wouldn't be able to do it any other way."

The reality star didn't completely rule out the possibility of adding to their family one day; however, she added that the timing isn't right for the couple.

"Right now, our household is freakin' crazy. I'm filming TV shows, I'm raising kids, I'm building businesses. So right now, no," said Young.

RELATED VIDEO: Heather Rae Young Gets a 'Mr. El Moussa' Butt Tattoo as Valentine's Day Gift for Fiancé Tarek

She also posted a clip on Instagram of her Daily Pop appearance and elaborated in her caption, writing: "I never knew how much love I had to give until I came into these babies lives and as of now I can't see myself wanting to add another into the family. The kind of family we have is special and my heart is so full already that I really don't feel the need for more. ♥️"

Celebrating his family of four, El Moussa shared a sweet clip of himself and Young with the kids on Instagram last week, writing that there is "no greater gift in this world than family."

He said on days when he wakes up "extra stressed" or "overwhelmed," "knowing I have Heather and my babies by my side changes my whole day."