Pricne Harry and Meghan Markle
NEW YORK, NEW YORK - SEPTEMBER 23: Meghan, Duchess of Sussex and Prince Harry, Duke of Sussex visit One World Observatory at One World Observatory on September 23, 2021 in New York City. Roy Rochlin/Getty Images

Prince Harry and Meghan are reportedly on the hunt for a new home, two years after purchasing their $14 million Southern California home.

A new report suggests the couple has either already purchased a home or is searching for the perfect home to raise their two children, Archie and Lilibet.

Meghan and Harry purchased their 7.4-acre Montecito estate about 90 miles north of Los Angeles in June 2020, months after announcing their exit as senior members of the British royal family.

Following a brief stay in Canada, the couple relocated to the United States and eventually settled into the nine bedrooms, 19-bathroom home. However, it appears the couple is hoping to move into a bigger space in Hope Ranch.

About 10 miles west of their current home, the exclusive gated community offers residents access to a country club, golf course, equestrian trails, tennis courts, and picnic areas.

Meghan and Prince Harry are reportedly willing to pay the prices for more space in the secluded Hope Ranch area with a budget as high as $22 million.

One of the houses for sale in the Hope Ranch area features a 67,082-square-foot home with six bedrooms, 7.5 bathrooms, a detached guest house, multiple fireplaces, an observation deck and an ocean view terrace with a firepit. The home lists for $21.5 million.

The couple could also consider a $20 million sprawling mansion featuring 8 bedrooms and 10 bathrooms. The home includes six large bedrooms, each with their own bathrooms, plus a separate two-bedroom guest house.

If Meghan and Harry are willing to increase their budget, they can grab a 5.5-acre home for $22.5 million. The home features six bedrooms and 5.5 bathrooms and plenty of open space.