Ahead of UK move, Prince Harry and Meghan insist they're keeping Montecito mansion despite $600,000 a year cost
As Prince Harry and Meghan Markle prepare to relocate to Britain, questions are swirling over the fate of their Montecito mansion. The couple insists they're keeping it, but a real estate source said there have ‘been rumblings’ of a sale.
Prince Harry and Meghan Markle have announced plans to return to the UK with their children, ending their six-year residence in California. However, speculation is mounting in the Santa Barbara real estate market about the possibility of the couple selling their Montecito mansion. The property, valued at $14.38 million, is owned by their company, Rockbridge LLC, and was purchased in 2020 for $14.65 million.
The annual cost of maintaining the estate, including mortgage payments and property taxes, is estimated to exceed $600,000. A local real estate broker, Jason Streatfeild, suggests that ultra-luxury homes like this one are often sold privately to avoid public listing. Despite the potential for a sale, the couple has stated their intention to retain the property and their home in Portugal.
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