The 23-year-old actress and 24-year-old actor are said to have spent the past several weeks looking at properties in London. The pair also considered homes in Hampshire, the county where Hoult's parents live.
Lawrence and Hoult met on the set of X-Men: First Class in 2011 and dated for two years before they broke up. The pair recently got back together, and Hoult's sister Clarista tells The Sun the couple now plan to decorate their new home.
"It's his first house," Clarista says of her brother. "He's very excited and has been getting all his furniture from Ikea."
"Nick has been big into feng shui," she continues. "In his room he has had branches, twigs with lights, the mattress and everything else on the floor -- like water feathers and chairs -- facing in the right direction."
A different source adds that Lawrence has really taken to England, especially the English countryside.
"Jen loves the English way of life," the person says. "As they are now serious again, it makes sense to look into buying somewhere."
Lawrence and Hoult will appear as Mystique and the Beast in X-Men: Days of Future Past on May 23.