Newlywed Britney Spears has one more reason to have fun: a brand new residence.
Spears paid $11.8 million for the mansion on 1.6 acres.
The luxurious property final modified palms in 2012 for $9.2 million. It initially appeared in the marketplace in January 2021 for $15.5 million. It was relisted this January for $13 million, and in March the value was minimize to $12.5 million.
Although Spears apparently negotiated a lower cost, given the recent gyrations in the true property market, did she snag a candy deal? We requested some consultants to weigh in.
First, let’s see the place the celebrity will begin a brand new life along with her new husband.
The home is situated within the double-gated group of The Estates of The Oaks and affords “strict safety.” It backs as much as an undeveloped hillside, affording Spears and Asghari much more privateness.
Their neighbors will embrace Kourtney Kardashian and Travis Barker, in accordance with Dirt.
Whereas many photographs have shortly disappeared from the itemizing, one exterior shot reveals the opulent abode that’s match for the “Princess of Pop.” Minimalist, it’s not.
A savvy transaction?
The 11,650-square-foot mansion has seven bedrooms and 9 loos. In-built 2009, the single-level residence options arched hallways, customized candelabras, and a 33-foot entry lobby wrapped in carved stone.
Different highlights embrace a chef’s kitchen with a breakfast bar and heart island, a 10-seat residence theater, a sport room, a gift-wrapping room, a moist bar, and an workplace with a coffered ceiling. The house is provided with good expertise and a digital camera system.
The first suite comes with twin dressing areas, walk-in closets, a walk-in secure, and a health club.
The grounds function a mosaic-tiled pool, a scorching tub, and a number of waterfalls. There’s additionally a heated patio and an out of doors kitchen.
The property features a one-bedroom guesthouse and a four-car storage.
So was Spears’ actual property transaction savvy?
One native agent we spoke with cited the paucity of properties within the gated group as insulation from a potential downturn within the housing market.
“The Estates of The Oaks of Calabasas is an ultraexclusive gated group inside a gated group with about 50 properties in whole, which makes proudly owning a property right here fairly tough,” says The Company’s Aimee Stern. “In reality, over the previous 12 months, just one different property modified possession on this haven, and it offered for $30 million.”
“Regardless of the sudden and present unstable market, Los Angeles stays a market with very restricted stock, which continues to buoy the market,” Stern provides. “Spears proudly owning a property in a group with built-in shortage ought to defend her long run from the current financial storm.”
Room to renovate
The newlyweds may need negotiated down the value to go away room within the finances to renovate. As a result of the mansion they purchased wasn’t brand-new, Spears may need scored a cut price, which she will be able to tailor to her tastes.
“Probably the most turnkey properties are likely to command a premium and promote the quickest, even in a slowing market,” says Cara Ameer, an inventory agent with Coldwell Banker licensed in California and Florida.
And there was a motive this place was in the marketplace for over a 12 months, she provides.
“Properties equivalent to this—which have expansive grounds and settings, however could also be overdone on the within—typically may be difficult to promote, irrespective of how scorching the market is,” Ameer says.
However there’s an enormous upside to the purchase: “The place one purchaser might even see an excessive amount of work, one other purchaser might even see alternative. If location and lot examine the containers, a purchaser can change something they need to their choice on the within,” Ameer says. “Britney was good to barter on this residence versus paying full asking value.”
Villa in Thousand Oaks
Simply earlier than sealing the deal on their residence, the couple tied the knot on the pop star’s Thousand Oaks property.
Spears purchased the place in 2015 for $7.4 million. The five-bedroom property on 20 acres features a tennis courtroom, three-hole golf course, infinity pool, and spa.
Spears grew to become a teen icon with the launch of her two bestselling albums, in 1999 and 2000: “Child One Extra Time” and “Oops! I Did It Once more.” In 2008, she was positioned in an involuntary conservatorship that took management of her belongings.
The musician continued her success with a four-year Las Vegas residency, and produced albums equivalent to “Circus,” “Femme Fatale,” and “Britney Jean.”
In November, a decide ended the arrangement that managed her life and funds for 13 years, which set her on a path to freedom.