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The running costs for Prince Harry and Meghan's $ 14.7 million mansion could reach $ 4.4 million a year


Prince Harry and Meghan Markle's new nine-bedroom, 16-bathroom mansion in California could cost up to $ 4.4 million a year.

The couple is believed to have bought the sprawling property, which sits on 5.4 acres of land, from a Russian businessman with a $ 9.5 million mortgage after the price rose more than $ 10 million had decreased.

The 14,563-square-foot "palatial" home in upscale Montecito was purchased on June 18 for $ 14.65 million.

The seller is believed to be Russian tycoon Sergey Grishin, who bought it for more than $ 25 million in 2009 and tried to sell the house for up to $ 34 million.

It took almost five years to build and included a library, office, spa with separate dry and wet saunas, gym with a stripper bar, game room, arcade, theater, wine cellar, and five-car garage.

But the villa comes with its own bills, which can cost up to $ 4.4 million a year. What exactly makes your new property so expensive?

Mortgage: $ 480,000 per year

It is believed that Harry and Meghan bought the luxury property after securing a $ 9.5 million mortgage, meaning they made a down payment of more than $ 5.2 million.

At typical Bank of America rates, the couple would have to pay $ 40,000 per month or $ 480,000 per year to repay the mortgage over a 30 year period.

The annual property tax is estimated at $ 68,000, and the security and maintenance costs of the huge mansion will come with heavy bills as well.

The couple bought the property despite still owing UK taxpayers £ 2.4 million ($ 3.1 million) for the renovation of Frogmore Cottage, their former home near Windsor Castle.

It is believed that Harry and Meghan bought the luxury property after securing a $ 9.5 million mortgage, meaning they made a down payment of more than $ 5.2 million

The couple have agreed to pay £ 18,000 ($ 24,000) a month to reimburse the cost of renovating the home, and royal expert Ingrid Seward said Wednesday that the new expenses "will not be valued very cheaply."

Harry and Meghan reportedly bought the house yesterday with the help of Prince Charles, but a source told DailyMail.com that the couple are proud to have started their own business and they say they bought it without any help from their family to have.

"They have a mortgage, but they see this as their own place without having to rely on others – a real family home," the source said.

At their peak, Harry and Meghan's combined net worth was estimated at around $ 43 million.

After changing hands in 2009, the house was listed by Sotheby & # 39; s six years later for $ 34.5 million, but had no buyers.

Finally, in January of that year, it was re-listed for $ 16,975,000 and sold to the Sussexes for $ 2,325,000 below the asking price.

REAL ESTATE TAX: $ 68,000 PER YEAR

Financial technology firm SmartAsset estimates a $ 14.7 million home in Montecito, California would be liable to property tax for around $ 68,000 a year.

The tax is based on the home purchase price but is also influenced by other variables such as the rate of inflation.

The couple bought the property despite still owing UK taxpayers £ 2.4 million ($ 3.1 million) for the renovation of Frogmore Cottage, their former home near Windsor Castle.

The couple have agreed to pay £ 18,000 ($ 24,000) a month to reimburse the cost of renovating the home, and royal expert Ingrid Seward said Wednesday that the new expenses "will not be valued very cheaply."

The house was built in 2003. The property has extensive lawns, tiered rose gardens, tall Italian cypress trees, lavender in bloom, centuries-old olive trees, a tennis court, tea house, children's house and pool

The house was built in 2003. The property has extensive lawns, tiered rose gardens, tall Italian cypress trees, lavender in bloom, centuries-old olive trees, a tennis court, tea house, children's house and pool

EMPLOYEES: $ 300,000 PER YEAR

Harry and Meghan didn't reveal what type of staff they will employ, but a full-time staff made up of cooks, gardeners, and housekeepers would come with a heavy bill.

Christopher Baker, who runs a company that supplies domestic workers in California, told the Hollywood Reporter in 2015 that A-list celebrity staff can cost $ 200,000 to $ 300,000 a year or even more.

In February of that year, it was revealed that Harry and Meghan had laid off 15 employees and closed their Buckingham Palace office – a sign that the couple and their son Archie would likely never return to the UK.

The Duke and Duchess of Sussex personally shared the news with their team in January after it was announced they would be stepping down as senior royals.

BENEFIT: $ 24,000 PER YEAR

According to the Numbeo Cost of Living Database, utility bills for a 3,000 square foot home in Santa Barbara County are typically about $ 200 per month.

Harry and Meghan's mansion is more than ten times larger, suggesting a possible bill of at least $ 2,000 a month or $ 24,000 a year. Justin Rubinstein of real estate company Compass told Business Insider last year that utility bills of $ 2,000 to $ 3,000 per month are typical for large mansions.

"Landscaping is always important because who wants to spend $ 10 million on a house and have an unattractive facade or an unattractive front yard?" Mr. Rubinstein said. "Depending on the size of the property, that can easily overshadow $ 100,000 a year."

The property has extensive lawns, tiered rose gardens, tall Italian cypress trees, blooming lavender, centuries-old olive trees, a tennis court, tea house, children's house and pool.

The palatial 10-hectare residence was originally launched in May 2014 for $ 36 million

The palatial 10-hectare residence was originally launched in May 2014 for $ 36 million

Harry and Meghan moved to the star-studded neighborhood in California

Harry and Meghan moved to the star-studded neighborhood in California

It also features a two-bedroom, two-bath guest house, perfect for Meghan's mother, Doria, who acts as Archie's one-year-old nanny. Doria was already in the house, reports the TMZ.

Zillow says the house has been updated with the latest Lutron lighting systems and Crestron including iPad controls.

The property is located on a private road in a luxurious and secluded property in Montecito.

Mr Rubinstein says large home owners should think about saving money for maintenance emergencies because "at some point there will be a flood, an electrical problem or a roof repair."

"Whether you're saving money every month or just risking it and waiting for something to happen, it's definitely an invisible cost."

Douglas Elliman's Jennifer Leahy, who sells Connecticut real estate for up to $ 9 million, said homes measuring at least 12,000 square feet can have maintenance costs of about $ 10,000 a month.

SECURITY: $ 3.3 MILLION PER YEAR

Harry and Meghan had reportedly hired earlier this year $ 9,000 a day security company GDBA to keep them safe in Los Angeles.

If GDBA were discontinued at that price 365 days a year, Harry and Meghan would be billed for $ 3.3 million just for security reasons.

GDBA is headed by Gavin de Becker, a security expert and former adviser to the President who was previously hired as a private investigator by Jeff Bezos.

Harry and Meghan got a bargain when their new home sold for over $ 25 million in 2009

Harry and Meghan got a bargain when their new home sold for over $ 25 million in 2009

The company provides "well-trained, well-screened" security guards who control access to the homes of the rich and powerful. His thousands of clients include "90+ of the World's Most Recognized Families and People at Risk" Tom Hanks and Madonna.

Actor Michael J. Fox describes GDBA as "the secret service for famous people".

De Becker is said to be close friends with Oprah Winfrey, the presenter of the chat show, who is also a confidante of Meghan.

Earlier this year, after moving from Canada, the couple had gone into hiding in a Beverly Hills mansion owned by Hollywood tycoon Tyler Perry, according to DailyMail TV's announcement.

According to a source, while staying at the Beverly Hills mansion during the coronavirus pandemic, Sussex people saw "unimaginable" press intruders, including drones operated by paparazzi that illegally fly within 20 feet of their home Take photos.

At least five such incidents have been reported to the LAPD.

Total: $ 4.4 million per year

The & # 39; Scarface Oligarch & # 39; who sold Meghan and Harry their budget mansion: The mysterious $ 500 million Russian oligarch has boasted of robbing the Russian banking system

By Will Stewart for MailOnline

The shady Russian "Scarface oligarch" who sold Prince Harry and Meghan Markle's new home in Santa Barbara is a Moscow tycoon who claims to be at war with the mafia and leading Vladimir Putin officials.

Fifty-four-year-old Sergey Grishin, believed to be valued at $ 500 million, has extensively boasted of “robbing” the Russian banking system – including a vanishing ink scam.

The Los Angeles-based banker has asked Donald Trump for a US passport, saying he needs it to be safe from Russians who are after him.

His complex relationships with glamorous women – including a Russian woman dubbed the "porn webcam model" by Gazprom-owned NTV broadcaster – have sparked a number of legal disputes, including alleged death threats.

Sergey Grishin (pictured) is the shady Russian "Scarface Oligarch" who sold Prince Harry and Meghan Markle's new home in Santa Barbara

Sergey Grishin (pictured) is the shady Russian "Scarface Oligarch" who sold Prince Harry and Meghan Markle's new home in Santa Barbara

One of Grishin's romantic partners was Anna Fedoseeva (pictured together) in her late 30s, who worked for an event agency and organized one of his birthday parties.

One of Grishin's romantic partners was Anna Fedoseeva (pictured together) in her late 30s, who worked for an event agency and organized one of his birthday parties.

Grishin has a degree in physics, but his first Moscow business reportedly was in homemade cookies and hot dogs.

Nicknamed the "Scarface Oligarch" due to his previous purchase of the "Scarface" estate – where Tony Montana was torn to pieces and Winston Churchill and Albert Einstein stayed – and shot several videos in his private Gulfstream jet that allegedly confessed had to get involved in financial machinations in Russia in the 1990s.

The couple is said to have bought the property from Russian businessman Sergey Grishin (picture)

The couple is said to have bought the property from Russian businessman Sergey Grishin (picture)

He wanted to explain how "a single person like me can cause the collapse of the Russian banking system," apparently in response to the US authorities.

His goal appeared to be to coax a U.S. passport from the Trump administration by implying that he had inside knowledge of Russian wrongdoing that would be of interest to the FBI.

In a video shot with his jet, he claimed he had tricked Russian bankers into writing checks for $ 2 million using a pen designed by Poland.

The special ink could then disappear so that he could rewrite the check for $ 250 million, he claimed.

This scam was previously accused of the Chechen mafia, he alleged.

The larger alleged robbery involved financial manipulation of Estonia at the time the Soviet Union collapsed into chaos, he said.

He has vowed Trump and his slogan to make America great again, but made it clear that he wants a US passport because: “I want to be safe.

“I am currently under attack in the criminal world of Russia … also from the leading government officials of Russia. & # 39;

Grishin's marriage to Anna Fedoseeva (pictured) ended in sharpness

He posted a picture of his bloody face (above) claiming he was the subject of domestic violence

Grishin's marriage to Anna Fedoseeva (left) ended in sharpness and he posted a picture of his bloody face (right) claiming he was the subject of domestic violence

The oligarch later met former model Ekaterina Loginova (pictured together) and began a relationship with her, reports in Russia say

The oligarch later met former model Ekaterina Loginova (pictured together) and began a relationship with her, reports in Russia say

In his video message, he did not explain the alleged threats made by the Mafia or Putin's officials, but said, "I don't like this … I hate that. I don't deserve this."

Surprisingly little is known about the Grishin.

In 2008, Finans magazine named him "one of the most mysterious Russian bankers" who made his first living selling electronics and gasoline.

According to the Russian media, he was married at least three times.

His youngest bride was Anna Fedoseeva, in her late 30s, who worked for an event agency and organized one of his birthday parties.

She moved to California from St. Petersburg and "he started showering her with gifts," according to one report.

"Your life became a fairy tale – Bentley, furs, expensive hotels and resorts."

They married in March 2017 and separated 11 months later, demanding that his "gifts" be returned, reports say.

His attorney Alexey Melnikov later said, “My client spent over $ 5 million on her. The exact amount is difficult to determine because the gifts were bought at different times for rubles, US dollars, euros and Swiss francs. During that time they had traveled to many places. & # 39;

Legal action followed demanding the return of an alleged loan from Anna and her business partner Jennifer Sulkess.

They took legal action accusing him of death threats and false imprisonment.

He posted a picture of his bloody face claiming he was the subject of domestic violence.

Ekaterina Loginova (pictured) has been described as a "porn webcam model" by Gazprom's NTV channel.

Ekaterina Loginova (pictured) has been described as a "porn webcam model" by Gazprom's NTV channel.

Sergey Grishin and US tycoon Warren Buffet play poker. The Russian businessman campaigned for a US passport

Sergey Grishin and US tycoon Warren Buffet play poker. The Russian businessman campaigned for a US passport

The oligarch later met former model Ekaterina Loginova and began a relationship with her, as reported in Russia.

He later filed a criminal lawsuit against an assistant who has worked for him for 25 years, Svetlana Grachyova and Loginova.

He accused them of cheating on him, while they countered that the banker had allegedly threatened them with murder and imprisonment, and that they had a lesbian conspiracy, reports in Russia said.

Loginova was quoted as saying, "Grishin invited me, my eight-month-old son, and my mother to live with him in the United States, and soon he suggested that I give me an expensive ring worth millions of rubles.

"He said he wanted to get married."

She said: "In the summer of 2018, Grishin suddenly went to Moscow and told his bride that he wanted to sue his ex-wife Anna Fedoseeva.

Upon his return, he began to behave extremely aggressively and completely inadequately.

“Though I've heard strange things from him before, like that he would be the next President of the United States.

But after that trip he went off the rails: every day I heard how he would punish his ex-wife and put her in jail.

"Frightened by the hatred and cruelty emanating from Grishin, I packed my things and returned to Moscow with my child and mother."

A former woman, Anna Grishina, also became embroiled in a lawsuit at the end of their relationship, as reported in Moscow.

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