Prince William and Kate Middleton's royal home gets a million-pound makeover

kensington-palace-kate-middleton.jpgBritain's Prince William and Catherine, Duchess of Cambridge will move into an apartment at Kensington Palace later this year -- after it's finished undergoing a heavy renovation.

The Daily Mail reports British taxpayers are footing a bill of about 1 million pounds (a little over $1.5 million) to renovate the palace, where William and brother Harry spent much of their childhoods. The refurbishments include fixing the roof on the 400-plus-year-old building, removing asbestos and updating the electrical and heating systems.

Kate and William, along with their soon-to-be-born baby, are planning to move into apartment 1-A in the palace, which was most recently the residence of Princess Margaret. They will pay to furnish the 20-room apartment themselves, a spokesman for the royal family tells the Mail.

The renovation costs were revealed in the release of the royal family's annual accounts on Thursday (June 27).
Photo/Video credit: Getty Images