Becks and Posh are happy in LA – putting their houses in France and UK on the market.
A source told The Mirror: “David and Victoria have been wanting to sell up for a couple of years now but the timing was never right.
“They didn’t want to lose money, putting their homes up for sale during a slump in the property market.”
“So, after getting it valued two years ago, decided to hold off until now.”
“Unfortunately, they have still lost quite a lot of money on their UK home due to all the renovations they carried out.”
“They don’t need the money, as such, but no longer use either place and realize in this current climate it’s crazy to effectively throw cash away.”
“The Beckhams have made LA their home, and the kids are settled there.”
They bought the home in 2003 and have since spent millions on renovations, and now their palace boasts an indoor and outdoor pools, recording studio, petting zoo, studio, gym and floodlit tennis courts.
Once known as Rowneybury House, the property was a council-run children’s home before the Beckhams moved in.
The couple bought the 1930s Georgian style house for $3.87 million million in October 1999, soon after their wedding. The house is on 24 acres, in Sawbridgeworth, Hertfordshire.
The Beckhams employ ex-Special Air Service or SAS (corps of the British Army) guards for security who are known for using vicious French poodles as guard dogs.
While the refurbishments may not have been cost-effective, they look austere in comparison to their decision to buy their South of France hideaway.
After “falling in love” with the seven bedroom villa in 2003, they have spent no more than a fortnight in it. Rumors Posh refused to stay there because it is haunted were unconfirmed.
The fashion designer will also have a small place in London.
A source added: “Victoria already has a studio there. She has already looked at a couple of apartments near Hyde Park and may decide to buy later this year.”
They’ve made Los Angeles their home for the last five years.
And 36-year-old David has previously spoken about not wanting to disrupt his home life now their children are happy and settled.
When he signed a new two-year deal with LA Galaxy earlier this year, he said: “When you’re married and you have children, your priorities change.”
“We have three amazing boys and a little girl we have to look after so now our priorities are all about them.”
“My family are happiest here at the moment. We love living in LA, we love living in America. We’ve adapted to the culture and everything the country has.”
Victoria, 37, boasted about her British roots last week. She made pork pies, sausages rolls and cheese and pineapple sticks, for International Food Day at her sons’ – Romeo and Cruz – school and posted a photo on Twitter.
David and Victoria Beverly Hills home is 13,149 square foot, 6-bedroom home and 9 bathrooms. The home is close to David Geffen‘s estate, according to Real Estalker.
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