Why Harry and Meghan Didn’t Ask Royal Family to Pay for Montecito House
Putting their money where their mouth is. Prince Harry and Meghan Markle want to make their own way without interference from the royal family, which meant excluding his relatives from the purchase of their new house in Montecito.
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“Harry could’ve asked [Prince] Charles to contribute toward the cost of the house, but he chose not to,” a source exclusively reveals to Us Weekly. “Getting his dad financially involved would result in the royals having control over him. It would mean going backwards.”
While Harry, 35, and Meghan, 39 “paid out of their own pockets [and] have taken out a huge mortgage,” the Duke of Sussex is “loving being independent and sees it as an opportunity to grow.”
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Despite the expensive $14.65 million price tag, they are proud of their purchase. “Harry and Meghan see it as an absolute bargain; it was an opportunity not to be missed,” the source says. “Unlike buying a car, it’s an investment. Meghan’s confident they’ll make a hefty profit if they ever decide to sell up. And on the upside, at least their security costs have been reduced. Their new home is gated and secure. They still have bodyguards but no longer need as many.”
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The couple see the move as the next step toward their long future together. “Buying a house together is a huge milestone for Harry and Meghan, especially as it’s the first property they’ve owned,” the insider tells Us. “They want to grow old together, reminiscing about their amazing journey.”
Harry and Meghan reportedly took out a $9.5 million mortgage to purchase the estate in June. They moved to the Montecito enclave of Santa Barbara, California, in July after initially settling in Los Angeles in March. The pair, who tied the knot in May 2018 and welcomed son Archie in May 2019, announced their intentions to step back from the royal family in January.
Later that month, Harper’s Bazaar royal correspondent Omid Scobie reported that Charles, 71, would continue to fund Harry and Meghan’s operating costs with the Duchy of Cornwall private estate, which he owns. The Prince of Wales paid 95 percent of their costs at the time.
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