Kate Middleton, Prince William and their two children are gearing up to make a big move in 2017!

According to a new report, the couple and their kids, Prince George, 3, and Princess Charlotte, 1, are planning to relocate to London next year to live in the royal family's Kensington Palace residence.

Kate and William, both 34, have been raising their little ones in their Norfolk, England country home, Amner Hall, for the past three years.

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William and Kate (inset) and Kensington Palace.

After tying the knot in a lavish royal wedding in April 2011, the duo moved into Apartment 1A in Kensington Palace. In the year following, Kate and William reportedly made a whopping $6.5 million in renovations to their 40-room residence inside the palace.

A few months before Kate gave birth to the couple's first child, son George, in July 2013, William's grandmother Queen Elizabeth gifted Amner Hall to the young couple so they may raise their little boy out of the spotlight.

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"[William], in particular, has a lot of thinking to do over the Christmas and New Year period," a source close to the royal family revealed to The Telegraph of the Duke and Duchess' impending move. "He has his job as an Air Ambulance pilot, which he enjoys very much, but he also wants to take on more royal duties, as does [Kate]."

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Kate, William, George and Charlotte in December 2016.

"Decisions about schooling and nurseries are all part of that," the insider continued, adding Kate and William are allegedly enrolling George in a nearly $8,000-per-term preschool in London near Kensington Palace next year.

The Wetherby School, where George may attend, is the same pre-prep school where William and his younger brother, Prince Harry, 32, went when they were young boys.

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According to the insider, William's work contract with East Anglian Air Ambulance is set to expire in March, suggesting the Duke, Kate, George and Charlotte may make the move back to London in summer 2017. We can't wait!

Click through the gallery below to see more adorable photos of Kate, William, George and Charlotte!