Ahead of UK move, Prince Harry and Meghan insist they’re keeping Montecito mansion despite $600,000 a year cost

Harry and Meghan’s California Estate: The $600,000 Question Looming Over Their UK Return

Theindiapostdaily.com – The Duke and Duchess of Sussex are preparing to relocate their family to Britain this month, bringing an end to six years spent in California since they stepped away from royal duties in 2020. Prince Archie, now 7, and Princess Lilibet, 5, are expected to start school in the UK come September. The couple has not yet revealed where they will settle, though they have confirmed plans to establish a new private residence there. King Charles was reportedly notified of the family’s departure over the weekend.

Despite the impending move, Harry and Meghan have publicly stated their intention to retain both the Montecito estate and their holiday home in Portugal. Yet that assurance has done little to quiet speculation rippling through California’s high-end property circles.

Whispers of a Private Sale

According to a source familiar with the Santa Barbara luxury market, quoted by the New York Post, there have “been rumblings” suggesting the couple might eventually put the property up for sale. The source added that broker interest would be fierce should the estate hit the market.

Jason Streatfeild, a Douglas Elliman agent covering the Montecito and Santa Barbara region, offered a more pointed observation to the same publication:

“It’s very possible that they would be listing it, but I have a strong feeling that it’s already being discussed and shown.”

Streatfeild explained that ultra-luxury properties in this bracket frequently bypass the open market entirely, being presented privately to select buyers under non-disclosure agreements. Details remain sealed until a transaction is formally recorded. His remarks, however, do not constitute confirmation that Harry and Meghan have placed the home on sale. No verified public listing exists at present.

The Staggering Cost of Ownership

The financial weight of keeping the estate may be a factor in any future decision. Santa Barbara County records, cited by the New York Post, reveal that Rockbridge LLC — the Sussexes’ company — acquired the 7.38-acre property for $14.65 million on June 9, 2020. Just three days later, the entity secured a $9.52 million adjustable-rate mortgage through City National Bank, starting at 2.49 per cent with the potential to climb to 7.49 per cent upon its July 2030 reset.

On a conventional 30-year amortization, the New York Post calculated monthly payments of roughly $40,000 to $43,000, translating to more than $480,000 per year before any other obligations. The 2025 property tax bill stood at $149,668 against an assessed value of $14.38 million, up from $138,629 in the 2021–22 cycle. Once insurance, landscaping, upkeep, and security are folded in, the publication estimated total annual fixed costs could surpass $650,000.

What the Estate Could Fetch

Streatfeild characterized the property as an 18,000-square-foot compound featuring nine bedrooms, 17 bathrooms, ocean vistas, a swimming pool, and a tennis court. He suggested a potential listing price near $75 million, with a realistic sale range of $55 million to $65 million, pointing to multiple recent Montecito transactions clearing above the $50 million mark.

The home had reportedly sat on the market for five years prior to the Sussexes’ purchase, originally asking $34.5 million back in 2015. For now, the couple’s stated position remains unchanged: they intend to keep the Montecito estate. Whether that stance holds as they build their new life in Britain remains an open question in the local brokerage community.