Prince Harry and Meghan Markle have been facing challenges managing their $14 million mansion in Montecito, California. The couple’s decision to step back from their roles as senior royals and move to the United States led them to purchase this grand estate with multiple amenities, including nine bedrooms, a five-car garage, 16 bathrooms, a wine cellar, a spa, and more.
Maintaining such a luxurious property comes with high operating costs, as stated by real estate expert Eric Bramlett. The couple employs a significant number of staff members, including housekeepers, private chefs, groundsmen, and security personnel. Additionally, they have to cover expenses for utilities, repairs, and other maintenance tasks, making it feel like running a small boutique hotel.
When Harry and Meghan bought the mansion, they chose to pay for it themselves without seeking financial assistance from The Palace. They took out a mortgage of nearly $10 million and funded part of the cost with Princess Diana’s inheritance and their joint ventures, such as deals with Netflix and Spotify. Harry’s memoir and Meghan’s lifestyle brand also contribute to their income.
Despite their current residence in the US, reports suggest that Harry is looking for a permanent home in the UK to stay connected with his old life and friends. Royal expert Tom Quinn mentioned that Harry misses aspects of his life in the UK and is determined to find his own place in the country.
These challenges faced by Prince Harry and Meghan Markle in managing their mansion highlight the complexities of transitioning from royal life to a more independent lifestyle while balancing financial responsibilities and personal preferences. As they navigate these hurdles, the couple continues to explore opportunities to sustain their lifestyle and make meaningful contributions through their various ventures.