Beyonce and Jay-Z are hoping to add on to their already impressive real estate portfolio, According to a source, the “Formation” singer, 39, and rapper, 50, are quietly checking out homes in Montecito, Calif., for their family of five. (The couple, wed since 2008, share Blue Ivy, 8, and 3-year-old twins Sir and Rumi.) Though the pair already own a $26 million home in New York‘s tony Hamptons, as well as an $88 million Bel-Air mansion, the couple are hoping to put down roots in the American Riviera so their children can attend the area’s prestigious schools.
“Beyonce and Jay-Z want their kids to have street smarts, so they’ll keep homes in L.A. and New York,” says the insider, “but they like the idea of having a home base:’ Another perk? Prince Harry, Meghan Markle, Ellen DeGeneres and Portia de Rossi are just a few of the A-list celebrities who call the coastal town home. “Montecito is starting to look like the new Beverly Hills,” continues the confidant. “Beyonce especially likes that it’s not far from Los Angeles, it’s clean and super private.”