When Hollywood power couple Jennifer Lopez and Ben Affleck bought their sprawling $68 million estate in Beverly Hills last May, they envisioned turning the 38,000-square-foot mansion into their dream home. However, less than a year later, the former lovebirds find themselves in a messy divorce – and stuck with the high costs of maintaining the property until a buyer comes along.
According to data issued by Realtor.com, Lopez and Affleck are on the hook for a jaw-dropping $283,666 per month to keep the luxurious home running. This hefty sum covers expenses like:
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Mortgage Payment:
The couple took out a $20 million mortgage, potentially resulting in a monthly payment of up to $200,000 depending on the interest rate.*
Property Taxes:
California’s property tax rate of 0.75% translates to an annual bill of $476,000, or approximately $39,666 per month.*
Security and Maintenance:
Privacy and security for the two stars cost roughly $340,000 a year, amounting to $28,333 per month.*
Homeowner Association (HOA) Fee:
A relatively modest $667 per month.*
Electricity:
Powering the estate, including heating, cooling, and other high-end features, could cost between $3,000 and $10,000 per month.*
Water:
With 24 bathrooms, a heated pool, spa, and five acres of landscaping, water usage could range from $500 to $2,000 per month.*
Gas:
Heating the property, cooking, and outdoor entertaining add another $500 to $3,000 to the monthly expenses.The couple invested millions in renovations, transforming the already massive home into a 12-bedroom, 24-bathroom compound with a separate 5,000-square-foot guest penthouse, caregiver house, 12-car garage, and more. However, their romance unraveled just 12 months later, and in July, they listed the property for sale at $68 million.
While some industry insiders question whether the asking price is too high, claiming the home is worth closer to $40 to $50 million, the listing agent, Santiago Arana of The Agency, defends the price tag, describing the home as “spectacular” and “priced really well.” He highlights the home’s unique features, including an indoor sports complex with basketball and pickleball courts, a boxing ring, and other recreational amenities. Arana expects the 5-acre property to sell near its current asking price before the end of the year, noting that it has attracted many serious buyers since it was listed.
