The Duke and Duchess of Sussex now have to pay £ 417,000 a year for the next 30 years. The royal couple paid a £ 3.8 million deposit on the property.
That raises more than £ 7 million to repay £ 34,750 a month over 30 years, amounting to £ 417,000 a year.
In addition, the highly regular outgoing Harry and Meghan will have to pay £ 52,000 a year in arrears, The Sun reported.
Further expenditures include the hefty bill for their £ 5million per year private security.
They also have to deal with the cost of repaying the £ 18,000 for renovations whose taxpayer has been paid out at Frogmore Cottage near Windsor.
The massive exits mean the duke and duchess will have to start earning money, or eating into their estimated personal fortune of £ 23 million.
Royal Finance expert David McClure seemed to be skeptical about her purchase of such an expensive property in an interview with The Sun.
He said: ‘I’m surprised they can afford it all.
“They need to make money fast.”
Meghan is said to have raised £ 3.8 million in her acting career, while Harry’s £ 19.2 million consists of an inheritance from Princess Diana and an annual fee from Prince Charles.
JUST IN: Photos of Princess Anne’s 70th birthday send royal fans in meltdown
Papers from her now in liquidation Sussex Royal Foundation revealed it was £ 200,000 from an unknown source.
Harry and Meghan’s new home is located on a private road in a luxury and secluded estate in Montecito.
The property is located about a two-hour drive from downtown Los Angeles, and almost every home near a million-pound pound is designed for privacy, with long driveways and large gates.
Neighbors include Orpah, Ellen DeGeneres, Tom Cruise, Jennifer Lopez, Steven Spielberg, Whoopi Goldberg and Kevin Costner who all live nearby.
According to reports, the house was initially listed for £ 12.9million ($ 16.9million), so the couple could secure a nearly £ 1.5million ($ 2million) discount on the asking price.
Page Six described the property as a 16-bedroom, 9-bedroom inn that sat on a large lot with a rose garden and centuries-old olive trees included.
Other important features of the house include a library, spa, wet and dry saunas, a gym, games room, arcade, theater, wine cellar, and a garage with five cars.
The luxury property also has a swimming pool, tennis courts, and a two-bedroom guest house.
The property was also said to contain a tea house and a nursery.
Speaking to Page Six about the couple’s decision to buy a home, a source said they moved out last month.
They said: “Harry and Meghan have been living in their own home in Santa Barbara since the beginning of July.
‘They are not Oprah’s or anyone else’s owners, they bought this house themselves. This is where they want to continue their life after leaving the UK. “
