Queen Elizabeth II returning to live at Buckingham Palace, never say never. Amid recent reports and speculation that the monarch will no longer call Buckingham Palace home, a source tells ET not so fast. «Her Majesty continues to carry out a variety of engagements and Buckingham Palace will continue to be central base of the Monarchy,» the source says, «but the reservicing project [at the Palace] still has five years to run.»The landmark building, known around the world as the home of the British monarchy, has been undergoing a major renovation that began in 2017 and isn't estimated to be done until 2027.