Prince Harry and Meghan Markle are reportedly planning to sell their luxurious Montecito mansion and relocate to Los Angeles.

The Duke and Duchess of Sussex have set their sights on Hollywood, where many of their celebrity friends reside, according to TMZ.

While the couple has not yet visited any properties in Los Angeles, sources claim that they are exploring specific neighborhoods in their search for a new home closer to Tinseltown.

This potential move makes sense, especially considering Markle’s desire to make a comeback in Hollywood.

However, a source close to a friend of the couple revealed on Blind Item that the Montecito house does not actually belong to Meghan and Harry, making it impossible for them to sell.

Despite purchasing the property at a significant discount, the cost of maintaining it alone was beyond their means.

With a mortgage of over $9 million, it is unlikely that they have any equity in the house.

The couple’s financial inexperience and Markle’s desire to keep up with the Joneses may have put them in a precarious situation.

If they were to refinance or take out a loan, they could easily find themselves in a difficult financial position.

Additionally, the Montecito house has its own set of issues, including plumbing problems, a constant smell from a nearby bird sanctuary, and a history of mudslides on the property.

It took over two years to sell the last time it was on the market, eventually being reduced by two-thirds.

With the new millionaire tax taking effect in California, it is uncertain whether the house will languish on the market or if the couple will have to sell it at a significant loss.

Despite these challenges, Meghan plans to use the money she earns from her book deal with Omid Scobie to purchase a mansion in Malibu.

Sources indicate that Meghan is entitled to 68% of the earnings from the book Endgame, including royalties from book sales and any potential film adaptations.

The remaining 32% will go to Omid Scobie.

In her book Endgame, Meghan reportedly places blame on King Charles for their Netflix deal.

She claims that the King has cut off all their privileges, forcing them to resort to defaming the royal family in order to secure funds for a house in America.

It seems that the couple may have underestimated the challenges they would face after signing their multi-million dollar deals and are now struggling to deliver.

They are desperate to shift the blame onto someone else, with King Charles III becoming their scapegoat for their current financial crisis.

It appears that Meghan and Harry went on a spending spree after signing their deals, only to realize that they were unable to meet their commitments.

They spent an entire year splurging on expenses and postponing content production.

Meghan’s recent fashion choices, including expensive outfits from 2021, suggest that she is now relying on designer clothes purchased two years ago when the deals were signed.

The couple is currently facing financial difficulties as they continue to spend without earning sufficient income.

Furthermore, they may have to wait several years to receive payment for their upcoming movie, “Meet Me at the Lake,” from Netflix.

Although the streaming platform has already paid for the rights to the book, they are unlikely to provide additional funds until the project is completed.

In the meantime, the couple’s mortgage, recurring expenses, and retainer fees are draining their bank account.

This is likely why they are considering selling the Montecito mansion and relocating to Los Angeles.

While they may try to spin it as an upgrade, their next home will likely be less expensive than their current one.