Barack and Michelle Obama
Former first couple Barack and Michelle Obama have an estimated net worth of $80 million. Chip Somodevilla/Getty Images

Michelle Obama and Barack Obama have reportedly closed a deal on a massive seven-bedroom mansion in Martha’s Vineyard.

According to Daily Mail, the ex-FLOTUS and her husband received the keys to the property after eyeing it for an entire year. The Obamas rented out the $11.75 million mansion last summer, and they fell in love with it instantly.

And since the couple sold their summer home on the island for $15 million last year, they have decided to splurge on another property. According to TMZ, the house was originally listed for $14.8 million, but the Obamas were able to secure a huge discount.

“It’s a remarkable home in an absolutely gorgeous setting. Privacy is a key feature on the property,” listing agent Tom Wallace said.

The mansion has its own private beach, a boathouse, a swimming pool, and an old fire pit, vaulted ceilings, and more.

Meanwhile, the newly-purchased property is also perfect for Michelle and Barack’s reunion with their two daughters, Malia and Sasha. During a recent interview with People magazine, the former FLOTUS recalled what it was like when she sent her second daughter to college.

Last August, the 18-year-old started her degree course at Michigan University. Sasha’s older sister, Malia, is currently studying at Harvard.

“It was, of course, a little emotional to drop Sasha off. But like so many experiences in the past 10 years, we wanted to make it feel as normal as possible. So, we were there just like most parents, helping her unpack and make her dorm room feel like home. But by and large, we let her take care of herself. As a parent, one of the most important things we can give our children is the freedom to find their own way in the world,” she said.

Sasha heading off to college means that the ex-POTUS and former first lady will have more time to themselves. Michelle said that it’s been fun spending time with just her husband again.