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Orlando Bloom Selling Home After Moving In with Katy Perry: It’s a ‘Natural Step,’ Says Source

Maria Pasquini

Orlando Bloom is letting go of his bachelor life — and the house that goes with it.

A source tells PEOPLE that the actor and fiancée Katy Perry, who got engaged on Valentine’s Day, are currently living together in the 34-year-old pop star’s home, as it’s much more private. Since he’s moved in with Perry, the Lord of the Rings alum, 42, is selling his own pad.

“Since they are engaged, it was just a natural step for them to live together,” a source tells PEOPLE, adding that Bloom’s ex-wife Miranda Kerr, with whom he shares 8-year-old son Flynn, “doesn’t have an issue” with the living arrangement.

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“Miranda knows Katy and the two get along,” the source says. “Miranda doesn’t have an issue with Flynn being at Katy’s house when Orlando has custody. Everyone is getting along great.”

The home is listed with the Oppenheim Group, which represented Bloom when he purchased the house. His listing agent Jason Oppenheim is the subject of a new Netflix show called Selling Sunset, which premiered on March 22.

“He did move in [to the house], but it was difficult because he was doing a remodel most of the time, so he wasn’t able to spend much time there,” Oppenheim told PEOPLE of Bloom. “He spent quite a bit of money and quite a bit of time. The pool took almost a year and a half. The interior stuff was a little quicker.”

Without having had much time to enjoy the renovation, the actor is now selling again, Oppenheim says: “As his personal circumstances recently changed with the engagement, he called me and asked me to sell it for him. It’s not really suitable for them right now as he’s no longer a bachelor.”

Orlando Bloom and Katy Perry | Daniele Venturelli/Getty

Bloom is selling his Beverly Hills bachelor pad for $8.999 million — almost $2 million more than what he paid when he bought the property less than two years ago, according to Variety.

The modern 4,011-square-foot home boasts 4 bedrooms and 4 bathrooms, and an indoor-outdoor design.

The master suite, which is attached to a dining and lounging deck that offers up picturesque skyline views, is a major highlight. As is the attached bathroom with its own floor-to-ceiling glass slider opening on to a private patio.

Perry also recently unloaded a major piece of real estate.

The singer sold her Hollywood Hills mansion for $9.4 million. The home was first listed two and a half years ago for $9.5 million, and the most recent listing was reduced to $8.95 million.

The 2.33-acre estate is composed of four different residential structures, including a main house, a two-story guesthouse, a gym and a guard house.

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Opening up about Bloom’s romantic marriage proposal last month, Perry revealed that the actor popped the question during a surprise helicopter ride.

“It was very sweet,” Perry shared during an appearance on Jimmy Kimmel Live. “We went to dinner and I thought we were going to go see some art after dinner but we pulled up to a helicopter.”

However, not every aspect of the proposal ended up going off without a hitch.

“The funny part is we had champagne in the helicopter and the [ring] box was in his pocket and he had written down everything he wanted to say on a note,” she revealed, explaining that the note was meant to divert her attention while he pulled out the ring.

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“So I’m reading [the note] but I’m hearing the champagne is broken and the bottle’s everywhere … he’s pulling out this box that’s too big for his coat pocket, rips his coat pocket and his elbow goes into the champagne.”

Despite the mishaps, the proposal ended on a happy note and afterwards the pair “landed on a rooftop [in Los Angeles] — my whole family was there, and all my friends,” Perry recalled. “He did so well.”