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Country Girl Miley Cyrus Buys $5.8M Tennessee Mansion

Miley Cyrus might be singing about ‘Malibu,’ but she’s done buying houses there. The Disney-actress-turned-pop-star just picked up a new $5.8-million pad in Franklin, TN.

This is Cyrus’ first home purchase in her birth state, but she’s been on a shopping spree in California over the past couple of years. In 2015, she bought a horse ranch in Hidden Hills, and 2016 called for a Malibu bungalow.

The latest addition to Miley’s collection is a sprawling 5-bed, 6-bath manse nestled on 33+ acres.

Photos from Zillow listing.

The home boasts classic Southern features including a wraparound porch and a screened-in sun room (with an indoor porch swing!). Inside the 6,869-square-foot estate, hardwood floors, a soaring stone fireplace, red brick accents and vintage exposed beams contribute to a rustic vibe.

A pool and mini-golf course dominate the fenced-in backyard. If you’re not taking a dip in the pool, then the yard is really best experienced from a second-story deck that sits atop the sun room and overlooks the property’s private 33 acres.

This home purchase comes hot on the heels of Miley’s announcement that she’s releasing a new album — one that many are speculating might be a return to her country roots. While a home purchase is hardly definitive proof, it is another signal for fans anxiously anticipating her next move.

Related:

• ‘Game of Thrones’ Queen Lena Headey Lists LA Home for $1.9M
• Rachael Ray Is Selling Her Southampton Home for $4.9M
• Miley Cyrus’ Childhood Home Hits the Market for $5.995M

from Zillow Porchlight https://www.zillow.com/blog/miley-cyrus-tennessee-220465/

Attending Bachelor Parties Adds Up – to More Than a Third of a Down Payment on a Home

Destination bachelor and bachelorette parties are becoming the new norm, especially among millennials who prize experience and grew up with The Hangover’s depiction of pre-wedding adventure. While flying off to Vegas with your closest friends can certainly be a trip of a lifetime, big ticket vacations can add up quick– a lost faster than a $19 avocado toast.

A new Zillow report found that millennials who attend just nine of these trips in a lifetime will have spent up to $13,788, or 35 percent of a down payment on the median home.

Owning a home is important to millennials, yet many of them are struggling to save enough money for a down payment. To help first-time buyers, Zillow calculated how much cash is needed for a 20 percent down payment on a home, and how much of it may be going toward bachelor or bachelorette parties instead.

Bachelor and Bachelorette Parties

A destination bachelor party costs on average $1,532 ($1,106 for a bachelorette), according to wedding website, The Knot. If the average person attends nine parties in a lifetime, or three a year for three years, they will have spent up to 34 percent of the cash needed for a down payment on the median home.

In some metros like Cleveland and Pittsburgh, millennials can spend up to half (51 and 50 percent, respectively) of their future home’s down payment on bachelor parties and well over a third of a down payment on bachelorette parties. However, in hot and expensive markets like San Jose or San Francisco, nine destination bachelor parties equates to only 5 or 6 percent, respectively, of the down payment on the median-priced home.

The Wedding

Bachelor and bachelorette parties are not the only expense associated with attending a wedding. On average, bridesmaids and groomsmen spend an additional $1,154 for things like wedding day attire, a gift for the bride and groom, as well as travel and accommodations for the wedding day. Guests not in the bridal party still pay $888, on average, to attend each wedding.

Help with Budgeting

Buyers can use Zillow’s affordability calculator to see how much they can actually afford to spend on a home, based on their income, debts and savings. Zillow’s mortgage calculator can also provide custom down payment estimates based on home price and interest rates.

Curious where bachelor and bachelorette party expenses make up the largest portion of a down payment on a home? Check out the full report here.

 

from Zillow Porchlight https://www.zillow.com/blog/partying-or-down-payment-220289/

Quiz: Can You Guess the Price of These Homes?

Note: There is a widget embedded within this post, please visit the site to participate in this post’s widget.

Top image, as well as the first and last quiz images, from Zillow listing.

More Quizzes:

• What Type of Bar Should You Build in Your Home?
• Can You Match the Celebrities to Their Homes?
• Are You a Savvy Mortgage Shopper?

 

from Zillow Porchlight https://www.zillow.com/blog/home-price-quiz-220272/

Rachael Ray Is Selling Her Southampton Home for $4.9M