Callistemon
^So the President would probably be a figurehead, of sorts, same as we have at the moment and similar to what they have in Germany, Ireland, Finland, a hundred other places that don't have monarchies^
So, in other words, the same as we have at present but a complete nonentity that no-one has heard of or cares about and yet another election every 4 years, who would want a new Palace that didn't leak, refurbished every 4 years etc?
What's the point?
The difference is that we could have someone that represents the nature and characteristics of the British people, and not be landed with someone who is in position just because their ancestors were good at fighting or sucking up to whoever happened to be King at the time.
And if we decide they're not up to the job, we vote them out next time. And we don't expect them to take on a role that means they have to work into their nineties.
We don't have to give them a palace. Are you suggesting that a reason for keeping a hereditary monarchy is that they don't complain about living in a Palace that may be unfit for human habitation?