Celeb housing: Where should Kim and Kanye live?

(MoneyWatch) The celebrity gossip world is buzzing about Kim Kardashian and Kanye West. The pair, who have been friends for many years and have been dating for eight months, recently announced they are expecting their first child together.

Kim and Kanye are preparing for parenthood the way many couples do: They purchased a bigger home. Of course, this isn't your average two-bedroom, two-bath condo. Recently listed for sale at $10.75 million, the 10,000 square-foot home boasts five bedrooms, stunning views and all the privacy the pair needs.

To put that price in perspective, a 30-year fixed-rate mortgage with 20 percent down -- more than $2 million cash -- would cost more than $37,000 per month.

A mere 10,000 square feet wasn't enough for "Kimye." Reports indicate that the pair plans to completely gut the high-end home and add on nearly 4,000 square feet. They'll also incorporate a gym, movie theater, full hair and makeup salon, bowling alley, basketball court and indoor/outdoor pool into the redesigned Italian-style villa.

Somewhere in there they'll also build a nursery, one that is no doubt bigger than most peoples' homes.

And since no one likes living in a construction zone -- especially while expecting -- the pair will need to settle for a rental while waiting on their dream home. Until they can move into their new pad, Kim and Kanye should consider one of these luxury rentals.

Realtor.com

Ocean views in Malibu. Listed at $28,500 per month, this private villa is a great spot for Kim and Kanye. It's located at the end of a cul-de-sac, so they won't have to worry about photogs. The main house offers four bedrooms, four bathrooms and a pool and deck with stunning ocean views. The property boasts a two-story guest house and two additional guest or maids' quarters attached to the three-car garage.

Palatial Mediterranean in L.A. With six bedrooms and seven bathrooms, this enormous estate should have enough space to suit the couple -- at least in the short-term. The home is listed at $29,000 per month and spans 6,332 square feet, complete with a stunning marble entryway and grand chandelier. A gated front yard will keep nosy onlookers off the lawn.

Hotel penthouse in Chicago. If Kim and Kanye are looking to get away, they should check out the penthouse for rent in the famous Drake Hotel. Located in Chicago, Kanye's hometown, the hotel has hosted the likes of Princess Diana, Elizabeth Taylor and Judy Garland. The four-bedroom, five-bathroom penthouse is listed at $18,000 per month and spans 4,000 square feet. The best part? All hotel amenities are included in the rent, and the Drake is mere steps from Michigan Avenue shopping.

Realtor.com

Entertainer's escape in Beverly Hills. Listed at $23,500 per month, this six bedroom, eight bathroom home spans more than 6,000 square feet. A wide-open floorplan is the perfect place for the couple to get in their entertaining before the baby arrives; the living room even opens to a huge patio and waterfall to keep the party going outside. The expansive master bedroom features big walk-in closets for the couple's massive wardrobe, which will likely expand as the due date gets closer.

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    Ilyce R. Glink is an award-winning, nationally syndicated columnist, best-selling book author, and radio talk show host who also hosts "Expert Real Estate Tips," a Internet video show. She owns ThinkGlink.com as well as Think Glink Media, a privately held company that provides consulting, content and video services to companies and non-profit organizations.

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