After living in the White House for eight years, the Obamas have now purchased a property of their own in Washington, D.C.

Since leaving office, 55-year-old President Barack Obama and his 53-year-old wife Michelle were renting out a house in a posh location of Washington, D.C. and now they have bought the same house for a whopping $8.1 million.

Sale confirmed by Obama's spokesperson

The sale of the house has been confirmed by Kevin Lewis, who is Barack Obama's spokesperson, who said that "it made sense for them to buy a home rather than continuing to rent the property" since the two are expected to live in Washington for at least two and a half years.

The reason behind their stay in Washington is their youngest daughter, 15-year-old Sasha, who is currently studying at the Sidwell Friends School.

Details about the previous owner of the house

The 8,200-square-foot, eight-bedroom, 9½-bathroom mansion was previously owned by Joe Lockhart, who was the former press secretary for President Bill Clinton. He moved to New York last year in 2016 to join NFL as the executive vice president of communications.

Neighbourhood that is famous for its high-profile residents

The mansion is located in the Kalorama neighborhood and prices in this locality have seen a hike since many high-profile people have started moving in.

First Daughter Ivanka Trump and her husband Jared Kushner rented out a property just a few blocks away from the Obama mansion while the current Secretary of State Rex Tillerson also resides in the same neighbourhood in a recently purchased $5.6 million property.

Jeff Bezos, the founder of Amazon and owner of Washington Post, holds the honour of owning the largest home in D.C., which was previously a museum.

The house is now blocked off for public access and is protected by the United States Secret Service officers.

Barack and Michelle Obama's eldest daughter Malia, who is 18 years old, is following the footsteps of her parents and is set to join Harvard University in the fall.

Since leaving the office, President Obama has been in the news for his holiday getaways in places such as Tahiti, French Polynesia, and Italy. Just a few days ago he was hosted by 32-year-old Prince Harry at the Kensington Palace in United Kingdom, where they discussed the recently held terrorist attack in Manchester during famous American pop singer Ariana Grande's concert on May 22nd.

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