Being a celebrity now is very much different than before. Gone are the days when people wonder what an international Hollywood star does every day because now, we get updates from them almost every hour.
We get to see that they are just like us, they are humans, too. Sure, they got paid millions of dollars and spend most of it in a whim, but they do what any other normal people would do like binge-watch a series in one day while eating junk food.
However, one unrelatable thing they do is real estate buying. For us normal people, we take a lot of time and careful planning when buying our first residence while for celebs it may be just like buying a purse in a mall.
So how different do stars buy real estate than normal people?
Owning a house is the ultimate American dream. But, with the increasing price of commodities and houses plus the creeping student and credit card debts at the corner, even people in their 30s are having a hard time trying to become homeowners.
According to statistics, in every three working millennials, only one owns a home. Even the median age of homeowners is rapidly increasing.
Meanwhile, celebrities start buying their first houses at the time they were given their first big break. Take YouTube celebrity David Dobrik for example, who got his $2.5-million home in Los Angeles when he was just 21.
They Have Insiders
When we think of celebrities, one stereotype is that they always get special things in their way, privately. It is like when they order food off the menu or get designer pieces that are just about to come out two seasons later.
In real estate, they also do that to maintain their dealings incognito for the chance to get it exclusively just for them. Also, for the famous, privacy is the ultimate luxury.
George Lucas bought his Cape Cod-style property in Carpinteria, California, that way. The $28-million beachfront property was not listed in the market publicly, and since it is just adjacent to his $19-million home, he got the chance to snag it quick.
They Buy, Buy, Buy Then Sell, Sell, Sell
Celebrities take property shopping as an investment game — if you buy more, you can sell more. With that in mind, they don’t really get too attached to their properties, well, except if milestones happened in that home or the location is just perfect for them.
They often just buy like how we collect baseball cards, then after maintaining it, they sell it for a higher price. While some just purchase properties for convenience, others get rid of these immediately.