Lady GaGa is planning to buy a $26 million home.

The 'Alejandro' singer has reportedly taken an interest in a 7.5 acre eight-bathroom English Country-style estate in the Hamptons area of New York, close to a property owned by her idol Madonna.

According to the New York Times newspaper, the property, which was built this year also boasts a restored 18th century barn alongside the 9,353- square-foot, shingle-style main residence, a carriage house and a recreational pavilion.

The house boasts extensive recreational facilities, including a sauna, pool, gym and sunken tennis court, as well as lavish media and wine rooms.

A spokesperson for the singer dismissed the claims, while the real estate broker for the property refused to comment.

In February, Madonna splashed out on a farm and the agricultural rights to 24 acres of land surrounding the property, which is very close to the property Gaga has been looking at.

As well as the New York estate, it was revealed earlier this week that the 'Poker Face' hitmaker is splashing out $25,000 a month to rent a house.

The 'Paparazzi' singer is renting a $5 million mansion in the affluent Bel Air neighbourhood of Los Angeles.

According to reports, the multi-bedroom property comes with one acre of grounds, a huge swimming pool and boasts stunning views across Hollywood and the Pacific Ocean.

But with Gaga - who recently rekindled her relationship with ex-boyfriend Luc Carl - on tour until April 2011, the house will be sitting empty for some time.