Barack and Michelle Obama buy 7-bedroom mansion for $11.75m

BARACK and Michelle Obama have bought a palatial home in Martha’s Vineyard for $11.75million (£9million) after falling in love with it on holiday.

The former President and First Lady closed the deal on the sprawling 6,892 sq ft mansion yesterday for $4.5million (£3.4million) under the original asking price.

They had tested out the seven-bedroom house before buying when they rented it in the summer, TMZ reports.

Now they have secured a prime beachside plot on the millionaire’s playground island, a favourite with celebs, tycoons and ex-President Bill Clinton.

Land registry records seen by the Vineyard Gazette show the Obamas bought it through a family trust from Wyc Grousbeck, owner of the Boston Celtics basketball team.

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The house is set in 29.3 acres fronting the Edgartown Great Pond on the south of the island, off Cape Cod in Massachusetts.

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