Barack and Michelle Obama purchase their rental home in Washington for $8.1 million
Former President Barack Obama and his wife Michelle have purchased the home they’ve been renting in Washington, D.C. for $8.1 million, according to the Washington Post.
The 8,200-square-foot home includes eight-bedroom, nine-and-a-half-bath, is located in the Kalorama neighborhood. The home was once owned by former Clinton White House press secretary Joe Lockhart and his wife. Lockhart bought the home for $5.295 million in 2014.
According to the records Lockhart sold the home for $8.1 million to Homefront Holdings LLC, which is controlled by the Obamas.
“Given that President and Mrs. Obama will be in Washington for at least another two and a half years, it made sense for them to buy a home rather than continuing to rent property,” Obama spokesman Kevin Lewis told the Post.
The Obamas want to stay in the area until their youngest daughter, Sasha, finishes high school.