mansion

28 Sep 2018

Buying a House as a Celebrity

You’d think buying a house as a celebrity and as a ‘normal person’ would be the same, right? Wrong. See, celebs not only get the VIP treatment for pretty much everything already, but when it comes to them buying and selling property, they get the red carpet rolled out…

Welcome back to MO’s blog, this week, we’re looking at buying a house as a celebrity – after the doom and gloom of last week’s post…

So, what’s the differences between buying a house as a celeb from the rest of us? Well, Forbes have 6 ways that celebs are different from us regular house buying folk.

1. Buying ‘Off Market’ Houses

So, you may notice that celebrity homes aren’t openly listed on property sites and with local estate agents. That’s because, most celebs have some form of contact with ‘people who know people’. In America, these homes are called ‘pocket listings’, and draw in the celebrity crowd because they’re not open to the public, and they have never been seen before. They secure these homes through a network of people, who are all very hush hush about the transaction.

2. Never Alone…

Ever heard about celebrities travelling with an arsenal of assistants and ‘people’ with them? Well, it happens – a lot. More importantly, for the house buying process, this is also the case. Whilst house buyers like you and me may recruit a friend, partner or parent for the journey, celebrities find themselves surrounded with a team of people looking for their home. Chances are, agents will never make contact with the celebrity themselves, as it’s kept mostly under wraps.

3. Bigger Budgets

Alright, this one goes without saying. The way celebs differ from us is that they usually have completely bigger budgets. Some houses costing celebs around a few million (and the rest…) Their budget means that most of the houses they look at are ones we never would even consider.

4. Buying Younger

With the likes of Justin Bieber and Kendall Jenner being some of the youngest and richest people on the planet, buying their first home isn’t something that comes around at the age of your ‘average buyer’. For example, Taylor Swift purchased her first property back when she was 20 years old – around 8 years ago. She now owns many more properties around the world – alright for some…

5. ‘Settling Down’

Now, most of us plan to stay in our first home until we fancy a change. Although this varies, some find their dream home is too good to give up. So, they’ll stay for a while. However, celebs tend to move a lot more than your average buyer. Kanye West and Kim Kardashian-West bought a home, renovated and never even moved in before selling.

6. Features

So, your standard home may have some decking or a patio as an added feature. But celebs tend to go for ‘different’ luxuries. Whilst Britney Spears has a wine cellar, capable of holding 3,500 bottles (with space to walk round we presume), the Kardashian-Wests’ enjoy a gold toilet or two (4 to be precise). Jennifer Lopez even has her own private beach in her garden…

Whilst most celebs don’t find they need a mortgage, you probably will… So, where do you find the best mortgage deals for you? Right here! Yes, at Mortgages.Online, we can find a whole host of mortgage deals, no matter your budget – no golden toilets guaranteed…

Source: https://www.forbes.com/sites/samanthasharf/2016/07/15/6-ways-celebrities-buy-homes-differently-than-you-and-me/#2a6fe84d24d5

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Laura Waller.

Laura Waller has been working in the mortgages industry since 2013, joining an independent brokerage in Essex. Laura has CeMAP 2 & 3 – Certificates in Mortgages Advice and Practice. Since then Laura oversees marketing for Mortgages Online, using her experience and expertise to write articles and blogs about mortgages and related topics.

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