One of those "must see" if it's your first time in London - luckily, Buckingham Palace is super close to a lot of the other famous things to see. Buckingham Palace is the official residence of the British monarch and serves as the administrative headquarters. Originally built in 1703 as Buckingham House for the Duke of Buckingham, it became the royal residence in 1837 when Queen Victoria moved in. Over the years, the palace has undergone various renovations and additions, with its grand state rooms open to the public during certain times of the year.