Courtney Love is buying a New York home.

The Hole rocker has been living at the Mercer Hotel in the city's SoHo area for the last year but has now decided the time is right to get a permanent property again.

Courtney has decided she wants to live in the West Village area, where fashion designer Marc Jacobs and Mary-Kate and Ashley Olsen have homes.

She said: "I want to live in the West Village - only the West Village."

The 'Malibu' singer won't be rushing into any purchase and intends to rent first because of her still precarious and complicated financial situation.

Courtney claims she has had hundreds of millions of dollars stolen from her from the money she was left by her late husband, Nirvana rocker Kurt Cobain.

The 46-year-old star was recently sued by American Express for more than $350,000 she owed, but says she will soon have access to funds again to pay for her new home.

Courtney - who has a 17-year-old daughter Frances Bean from her relationship with Kurt - told the New York Daily News newspaper: "I don't have a credit card. I use a debit card. But my CPA (certified public accountant), who I share with Oliver Stone, is fixing it. It will be four more months until my credit is repaired. I've spent so much money on the hotel."