All About Beyonce and Jay-Z's New $88 Million Bel Air Mansion

Music's recently expanded first family has finally bought a home after renting for years

Beyonce and JAY-Z have finally found a home in Los Angeles after house hunting for two years. The couple paid $88 million for their Bel Air mansion, a source confirms to PEOPLE.

The compound is made up of six structures with approximately 30,000 square feet of interior space. A sprawling outdoor area adds another 10,000 square feet, according to the Los Angeles Times. Spa and wellness facilities, bulletproof windows and four swimming pools are just a few of the amenities said to come with their pricey pad, which reportedly carried an asking price of $135 million. The deal stands to be the biggest real estate transaction in Los Angeles County this year.

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The Carters have been renting a series of luxury properties while house hunting since they made the move west from New York City in 2015, but have struggled to find a suitable home, even with a budget of $100 million. A source confirmed to PEOPLE in June that, despite touring "every luxurious mansion on and off the market," the pair couldn't settle on a property that met all of their needs.

"They want to find the perfect house to buy for their family, but they haven't found it yet," the source said. Adding that the process was wearing on the famous family: "They are not moving from rental to rental, because they enjoy it."

WATCH THIS: Beyoncé and JAY-Z's Babies Reportedly Settle into Luxurious Malibu Rental

Since the arrival of their twins, Rumi and Sir in June, the family has been making their newest members feel at home in a stunning Malibu rental house. A real estate source confirms to PEOPLE that the couple rented the 10-bed, 14-bath villa — which rents for $400,000 a month, fully furnished — earlier this summer.

In the last few months, the stars have reportedly toured several notable properties in their desired neighborhoods of Beverly Hills, Bel Air and Holmby Hills, including the Aaron Spelling mansion.

With daughter Blue Ivy, 5, starting school this fall and two new family members keeping the superstars focussed on home life, it's not likely Queen B and her king will be leaving this gorgeous castle any time soon.

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