08/30/2011 12:00 pm ET Updated Dec 06, 2017

Denise Richards Turns Down Charlie Sheen's Million Dollar Offer

Charlie Sheen’s dream of becoming one big happy family, by buying his two ex-wives, Denise Richards and Brooke Muller, homes just a stone’s throw away from his, isn’t going to happen.

“It is true that Denise is moving homes in the next couple of weeks but she isn’t moving into Charlie’s neighborhood. She's returning to the beautiful home we all got to see on her reality show,” an E! insider tells me. “She's moving back into the house she bought 5 years ago. After a long two-year remodeling.”

The home in Hidden Hills, California is located in the same neighborhood as Britney Spears and Jennifer Lopez, while Sheen lives in Beverly Hills.

“Denise has been renting a house down the street while renovating,” a source tells me. “But she can’t wait to get back into her house with her three girls and show their new rooms and the brick oven put in especially for making pizza.”

So the home Sheen purchased just six houses down the street from his own mansion isn’t going to be home sweet home for Richards. But all isn’t lost. Now Sheen won't have to buy the third home that TMZ reported he was looking to purchase in his gated community for Mueller and her twins. He can just give that ex-wife the home Richards said 'thanks but no thanks' to.