London, Dec 30 - Hollywood couple Renee Zellweger and Bradley Cooper will welcome New Year with a new house. The couple has spent $4 million on their first property together.

Zellweger and Cooper, who have only been dating for a few months, were snapped house-hunting early this month. The actors have settled on a four bedroom house in the Pacific Palisades community in California, reported hollywood.com.

But they plan on making a few changes to the property before moving in.

"They have already lots of plans for the renovations. They're both homebodies, and they can't wait to have a place to entertain friends and just be together," said a source.