According to Celebrity Babylon Tom and Katie have purchased a 3-acre property for $3.5 million dollars in Montecito, California. The couple bought the property, with existing building plans for a lavish home, from actor Rob Lowe and his wife Sheryl.

The property isn’t much to look at now, but thanks to Rob Lowe who pushed and shoved his building plans through the local planning commission, Tom will be able to build his dream vacation home in no time at all. Celebrity Babylon has photos of what exists on the land now, and ground has been broken. A Montecito local tells Celebrity Babylon, “Tom could use the plans for a house that Rob did, or he could have his own custom design.”

Montecito is considered the ritzy seaside enclave just 90 miles north of Los Angeles, where stars like Oprah Winfrey, Ellen Degeneres, Portia DeRossi, Dennis Miller, Julia Louis-Dreyfus, Carol Burnett, Kirk Douglas and others have homes. Rob Lowe and his wife have a number of homes in Montecito, and seem to have developed deft skills at high-end house “flipping.” They live at a mansion nearby, and have a beach house near Carpenteria, Ca., as well.

Click here and check out the property that will soon house Tom, Katie, and little Suri!