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