Nick Lachey and Vanessa Minnillo Buy $2.85 Million Encino Mansion

September 1, 2011 By:
Nick Lachey and Vanessa Minnillo Buy $2.85 Million Encino Mansion

You know how you can tell how screwed up the economy is? Celebs are now spending less than $5 million on their homes. It's getting scary.

Newlyweds Nick Lachey and Vanessa Minnillo just dropped $2.85 million on a home in Encino, California, located in the San Fernando Valley.

Listen, I know that's a lot of money. But for celebs, that's basically chump change. I mean, the Kardashians probably use million dollar bills to jot down their to-do lists. So either stars are getting more frugal, or the housing market is still sucking bigtime. I'm gonna go with sucking bigtime.

Vanessa and Nick are getting a ton of house for their money, too. At 8,000 square feet, the Spanish-style estate boasts six bedrooms and eight bathrooms. That's plenty of baby-makin' room!

The estate also features vaulted ceilings, fireplaces, and an outdoor living area complete with a pool.

Earlier this summer, Lachey listed his gorgeous Bel Air mansion for sale. He had originally put it on the market in 2010, but after receiving a few offers, he decided he just couldn’t part with it. And who can blame him? It's one awesome bachelor pad.

But, to prove he was ready to commit to Minnillo, Lachey relisted his four bedroom, four and a half bathroom home for $5,995,000.

Back in June, listing agent Mauricio Umanksy said Lachey had a change of heart because, "Now he’s engaged officially, and he’s getting married officially and is thinking about starting a family. They want to be bi-coastal and I think they want the East Coast to be their primary residence."

Good luck finding something in New York for under $5 million. Over there, $5 million will probably only buy you a drawer in someone's dresser.

Lachey previously bought the 4,722 square foot home in 2006. Before Lachey purchased it, the home was owned by Heidi Klum and Seal. And aside from that, it has some sentimental value: it was Lachey's first home after his split with Jessica Simpson.

He made a ton of renovations to the house, adding in a new pool, Jacuzzi and outdoor dining area. The house had 360 degree views of downtown L.A., Cataline Island, and the San Gabriel mountains.