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How is Buying a Celebrity Home Different From Buying a Home for Most of Us?

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Source: latimes

We all aspire to buy a home that we have always dreamt of. We save for many years and then spend a lot of time and effort in finding the perfect property that not only offers us a comfortable place to live but also great returns on our investments.

iMoving, a platform helping people find the best moving services, says that people move from one place to another because they have located their dream home. They make a lot of arrangements, plan for the move, buy moving boxes, and hire the best moving company as they are aspiring for a more luxurious and better life at their own home.

Celebrities are no different! They spend as much time and resources as any of us in the shopping of a perfect house. Yet, the celebrity’s home buying is way different than most of us. Wondering why? Well, there is a stack of the information below, offering you a satisfactory answer. While some of these reasons are very obvious, others might be a sheer surprise for you. Let us dig further and know-how a celebrity buying a house is different from you and me.

Their spending power is more

First of all, a celebrity spends in their home shopping much more than you and me. As per the data, buying a median home in the US will need an investment of $186,100. However, for celebs, the price is way higher, ranging from $3.5 million to $20 million.

Similarly, if we talk about renting (yes, celebrity rents too), the median monthly rent in Manhattan is $3444. For many of us, it is too high, but for celebrities, it is nothing. Taylor Swift has a rented apartment in Manhattan, and she pays a whopping $39,500 a month. Similarly, Beyoncé Knowles and Jay Z monthly rent are speculated to be as high as $150,000 per month. Of course, they live in a mansion that too in LA’ sL.A.’s Holmby Hills.

Source: mercurynews

Celebrities buy home young

An average American waits way longer to invest in a house. This is primarily because one needs to save before he spends. Reports suggest that in the US, an average first time home buyer’s age is 33. Again, Taylor Swift bought her first home when she was 20 years old. She had 4 houses by the time she turned 26.

They buy isolated & exclusive properties

Unlike you and me, celebrities prefer to buy a home that is isolated and off the market. Usually, home buyers approach brokers, and brokers refer to the local Multiple Listing Service to offer an asking price. The brokers offer a tour of different properties in the buyer’s budget, which buyer tour and find a suitable option.

Celebrities have a comparatively different way of buying a house; they never go for a property that has been listed on MLS. They aspire to a home that offers them privacy as well as is never seen by anyone and is EXCLUSIVE. Most celebrities buy houses this way.

They have a team with them

You might have taken someone experienced with you while you looked at prospective properties. Similarly, celebrities have a team of experts working for them who first vet the property before they can see.

Source: mansionglobal

They look for premium amenities

Celebrities buy homes with exclusive amenities. For example, Britney Spears owns a home that has a wine cellar with 3500 bottle capacity. Kim Kardashian and Kanye West own a house with four gold toilets. Homebuyers are currently looking for homes with large garages, so agents are working on providing them with similar options. The garages are used for hosting parties as well as housing their premium vehicles.

They buy and sell, only to buy again

For us, buying a home is a dream come true. Buying a house is the last thing we consider, until and unless we want to invest in a new one. On the other hand, celebrities are never too emotionally attached to their homes. They buy and sell more frequently. While an average American change his/her home in 14 years, celebrities may change it in months only. They sell one property to buy another, which is much more lucrative than the previous one.

Some celebrities are way too ignorant when it comes to a home purchase. For example, Kim Kardashian and Kanye West bought a home worth $9 million in 2013 and then renovated it by spending $2 million more and finally, never moved in. Yes, they can do that, not you and me.

Celebrities have much more spendable income than most of us. They can afford it, but many of us cannot. Thus, home buying must be a well thought and well-planned process that achieves the best benefits. So, what do you look for while buying a property? Here is the answer:

Location

The location of the property plays a key role in the buying process. The property at a prime location will fetch you the best resale price.

Source: stuff

Facilities and amenities

Much like the celebrities, you too must look for the facilities and amenities a house offers. However, the list of amenities must be affordable for you.

Condition

It would be best if you got the property evaluated before investing in it. Make sure the walls are sturdy, and the floors are stable Many times, a home is superficially polished to offer a look of perfection while it is weak and rotten underneath.

Legal status

Make sure the property is freehold and has no dispute related to it. Also, you must check a range of legal documents, including an occupancy certificate, construction approvals, the status of income tax, and more.

Source: mansionglobal

Budget

Finally, the budget is essential as you cannot just roam around buying any property that you liked without looking at the price tag.

If you have enough money to spend on your next house purchase, go ahead and buy. But if you want to make a thoroughly thought purchase, make sure you partner with a reliable agent and buy a house that is perfect for you and your family.

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