Beyoncé & JAY-Z can't find suitable house,despite having $100m budget

New parents of three, JAY-Z and Beyoncé have yet to find a home in Los Angeles that suits their needs and their $100 million budget, a real estate source confirms to PEOPLE.


"They want to find the perfect house to buy for their family, but they haven’t found it yet," the source says.

With a massive budget, and in a city of mega-mansions, the real estate options are seemingly endless. But when you’re a family of global superstars, even a 9-figure price tag can be limiting.

"They are absolutely on a budget. It’s an insane budget, but they are sticking to it. They don’t want to pay above $100 million," the source says.

Currently, the Carters are making their newest members feel at home in a stunning Malibu rental house. A real estate source confirms to PEOPLE that the couple have rented the 10-bed, 14-bath villa —  which rents for $400,000 a month, fully furnished — earlier this month. The couple plan to stay at the estate through the summer while they search for a more permanent residence in Los Angeles.