Decorating their room with their choice of presidential memorabilia and art from neighboring museums, said Monkman, is another benefit of being a first child.
"President Jimmy Carter's daughter, Amy, [who was 9 when she moved in in 1976,] selected some of the child-size furniture that had been given to the White House when Caroline Kennedy lived there for her room," said Monkman.
As for whether the girls will be allowed to paint their room -- say, in hot pink -- Monkman said that will probably be up to their mother.
To be sure, the Obama girls, who are said to relish sleepovers with their friends, won't have to say goodbye to their childhood pastimes come January.
"There are plenty of rooms to have sleepovers with their friends and there's a swimming pool and tennis courts," said Monkman. "There is a wonderful staff to take care of them and make them feel very much at home."
Asked whether the girls could choose the Lincoln Bedroom for their next slumber party, Monkman said that they wouldn't be the first White House children to do so.
According to Wead, the girls will be able to meet famous people in sports, entertainment and science.
"Mandela one day, Tiger Woods the next and Hannah Montana the next," said Wead.
Holidays are also a special time in the White House.
"Christmas has not one, but a forest of decorated trees throughout the State Floor and gingerbread houses that are masterpieces created by American craftsmen," said Wead.
"Every gadget, every toy, every game pours in," said Wead. "For young kids? The parents will need the discipline of drill sergeants to keep it under control."
The staff of 80 is available to do anything the first family needs -- from walking the Obamas' new puppy to laying out the president's clothes in the morning.
The private residence has an eat-in kitchen, said Monkman, and while former first children have helped the pastry chefs bake cookies for fun, it's unlikely that Michelle Obama will have to cook dinner for her family again -- at least for the next four years.
"Life is very easy in that respect," said Monkman. "The staff will try to please them."
While selecting a puppy and deciding how they'll decorate their rooms may be at the top of Malia and Sasha's to-do lists, deciding where the girls will attend school is likely one of their parents' chief concerns.
Malia and Sasha already attend a private school in Chicago, so it's expected that one of the elite private schools in the Washington area will likely be a choice for the girls.
Many of the schools have already dealt with the Secret Service entourage that comes with having children of presidents, vice presidents and top White House staffers in attendance.
"If the Obamas send their kids to private schools, they'll call them snobs who have betrayed all that they advocate for the public school system," he said. "If they send them to public schools, which are dangerous, they will be called inconsiderate for disrupting everything with the Secret Service tagging along."
Still, public school may not be out of the question.
Amy Carter famously attended Hardy Middle School, a Washington public school, during her father's presidency, and a Washington Post columnist today urged the Obamas to consider a public school, urging the president-elect to "see what their tax dollars are paying for."
But Wead maintains that private school will likely beat out the public schools, if only to maintain some sense of normalcy for the girls.
"My guess is that the Obamas will opt for private, which is best for their kids, and take the heat."
ABC News' Claire Shipman and Ann Compton contributed to this report.