Meet the neighbours? William and Kate are house hunting for a new £5million pad - Mirror.co.uk

Prince William is preparing to splash out a princely sum on a family home for himself and Kate .

The royal couple currently divide their time between a rented cottage in Anglesey, where RAF pilot William is based, and an apartment in Kensington Palace.

But after coming into a £10million inheritance from his mother Diana when he turned 30 last week, William is keen to spend £5million on a Home Counties pile.

A source said: "They have started looking for a family home, ideally within striking distance of London, Highgrove and Kate's parents in Berkshire."

William's tour of duty as a search and rescue captain in Anglesey ends next year. He hoped to extend it until 2016 because he and Kate enjoy life there.

But Prince Philip's recent health scares mean he is likely to take on a full-time royal role.

And once he leaves the RAF, the couple will need a new base outside London.

The source added: "William knows he will have to become a full-time royal sooner rather than later.

"It's not like they are scouring websites and calling agents all the time but they are keeping an eye out for properties. They don't just need the perfect house. There are obvious privacy and security issues, too."

Homemakers: Prince William and Kate are looking for a place in the Home Counties

 

Kate is believed to be keen for any children she may have to grow up like her and not spend their entire childhood in royal palaces surrounded by servants.

Princess Margaret's 20-room former apartment in Kensington Palace, London, is currently being refurbished for the couple and will be ready next year.

Until then, they are living in a smaller cottage in the grounds.

 

It is believed they are focusing their search for a country home on Berkshire, where Kate's parents currently live in a £1.5million detached house.

They are rumoured to be moving to another home nearby – a £4.7million Grade-II listed Georgian house in 18 acres.

And check out the potential new homes...

Finchampstead, near Wokingham, Berks

Church Lane, Finchampstead, Wokingham

A lovely imposing five-bedroom family home which boasts a media room and study. The property is set on 40 acres of land with spacious gardens and elevated views across the picturesque counties of Berkshire and Hampshire.

Streatley, Berkshire

Streatley Farm, Streatley

A stunning Grade-II listed, seven-bedroom house which was built in 1675. This historic property has many original features including buildings for staff and is set in 73 acres of land with extensive gardens. It also boasts a River Thames frontage.

Middle Lypiatt House, near Bisley, Gloucestershire

Middle Lypiatt House, near Bisley, Gloucestershire

A beautiful six-bedroom, grade-II listed home with four cottages along with formal gardens, paddocks and approximately 40 acres of land containing barns and stables. Located in the Cotswolds and in part of England's largest area of outstanding beauty.