Why Prince Charles won't live at Buckingham Palace when he's King

Prince Charles and Camilla apparently want to stay put. Photo / Getty Images

Prince Charles does not want to live at Buckingham Palace after becoming King and wants to turn it into a museum instead, it is reported.

The prince and wife Camilla are said to be "very comfortable" at their current lodgings in Clarence House and loathe to move to 'the big house', reports the Daily Mail.

Charles believes upkeep costs mean the 775-room home is not fit for the modern era, it is claimed, despite the fact that it is currently undergoing a $680 million, decade-long renovation in order to keep it "fit for purpose".

Royal sources told The Sunday Times that Charles would like to make the palace more sustainable by opening it up to the ticket-buying public.

"What's to say Buckingham Palace can't be opened to the public for at least six months, while keeping the state rooms pristine for use during big occasions?," one source told the paper.

The palace currently opens to the public between July and October while the Queen takes her annual holiday at Balmoral.

Last year it was announced that Buckingham Palace will undergo a $680 million renovation job - the first major work to be done there since the 1950s.

The Queen's father, George VI, ordered the last set of repairs to fix the damage caused by bombing raids on London during the Second World War.

The latest works will see ten miles of water pipes, 6,500 plug sockets, 500 pieces of sanitary ware and 20 miles of skirting board replaced.

Experts warned there was "serious risk" of fire and water damage to the palace and the priceless works of art it contains due to its perilous state of repair.

News of the huge repair bill outraged some MPs, though the government argues it is the best way to avoid a much larger bill later on.

Buckingham Palace, London residence of the reigning monarch. Photo / Getty Images

Buckingham Palace has been the official residence of the British monarchy since the accession of Queen Victoria in 1837, when she moved there.

It was originally known as Buckingham House and was constructed on private land for the Duke of Buckingham in 1703. It was acquired by King George III in 1761.

Today it serves as a home for the Queen and Prince Philip, while the Duke of York and the Earl and Countess of Wessex keep apartments there.

The rest of the palace is occupied by staff, while several members of the royal family also keep offices there.

A spokesman for Clarence House said: "Buckingham Palace will remain the official London residence of the monarch."

A senior royal aide categorically ruled out the prince staying at Clarence House in any capacity once he accedes to the throne.