Miley Cyrus Purchases New $3.9 Million Home

Miley Cyrus has traded up. The former Hannah Montana star just purchased a new home in Studio City for $3.9 million. The contemporary design—built in 1952—features five bedrooms, seven bathrooms and sits on over an acre of land.

In 2010, Cyrus bought a home in nearby Toluca Lake for $3.4 million. The Spanish style house, just a few doors down from her parents abode, was over 4,000-square-feet (there is no word on whether or not she will be selling it). The singer/actress’ new place is approximately 5,173 square-feet and boasts a renovated kitchen, open floor-plan, pool, spa and outdoor patio.

The 18-year-old can be seen next in Lionsgate’s upcoming 2011 comedy LOL, featuring Demi Moore and Ashley Greene.