The rich and famous live in some of the most amazing homes on the planet, luxurious residences that some of us could only dream of.
From luxurious mansions in exclusive neighbourhoods like Bel Air and Beverly Hills to sprawling multiple home estates on this side of the pond, here are the estimated values of the homes of some of the most famous people in the world.
But just how much would it cost to live like the stars? If we look at the average UK salary for full-time workers, which currently stands at £31,461 a year, this means that it would take around 449 years to buy the likes of Selena Gomez’s $4.9 million Encino home, but if you think that’s a long time, that figure rises to an incredible 8,072 years when it comes to the Bel Air home of music royalty Beyoncé & Jay-Z.
When you are ready to purchase a new home, compare mortgages to find the right deal for your circumstance.
To find out how long it would take you, enter your salary below to compare mortgages with some of the world’s biggest celebrities and see how many years it would take you to own their homes based on saving 25% of your annual salary per year.
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While winning the lottery may be the only way that you might be able to afford these types of properties, there are still some things that you can do to increase your affordability and be able to secure a mortgage on the property that you want.
The best way to get closer to affording your dream home is to increase your deposit on the purchase price, as this means that you won’t need to borrow as much. If the mortgage loan you can get only covers 80% of the property you want to buy, you could afford it with a 20% deposit. This might sound easier said than done, so here are some top tips on how to save up a deposit.
If you’re struggling to get the mortgage that you want, another option you can consider is to apply with a guarantor. This means that someone else will agree to cover your mortgage payments if you fail to do so and can open up more options, although not all lenders offer this option.
Finally, it’s worth speaking to a broker, who can search the market to see if there are any deals out there that could suit your situation. Some brokers have access to mortgages that wouldn’t otherwise be available to you and could secure you a bigger mortgage than you would have done alone.
Money.co.uk looked at the homes of some of the biggest celebrities in the UK and USA, taking estimated house prices for their main residences from the sources below.
The calculator then estimates how long it would take you to be able to afford each house, based on saving 25% of your annual salary per year.
Salman is our personal finance editor with over 10 years’ experience as a journalist. He has previously written for Finder and regularly provides his expert view on financial and consumer spending issues for local and national press such as The Express, Travel Daily, and The Daily Star.