Barack Obama and Michelle Obama Purchase Their Washington D.C. Rental Home

It's official: Barack Obama and Michelle Obama are Washington D.C. residents!

The former president and first lady have been renting a home in the capital since they moved out of the White House in January, and now they've decided to officially make the big purchase.

"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," spokesperson Kevin Lewis said in a statement to People.

The decision to find a permanent home in D.C. should really come as no surprise considering the Obama's previously stated they would be staying in the area until their youngest daughter, Sasha, 15, finishes high school at Sidwell Friends School in 2019.

Their eldest daughter, Malia, 18, is set to start school at Harvard University in the fall.

The house—once owned by Joe Lockhart, the former White House Press Secretary under President Bill Clinton—isn't too shabby of a place to call home for the former first family.

The 8200-square-foot mansion boasts eight bedrooms and nine and a half bathrooms, which the Washington Post reports they bought for $8.1 million.

Meanwhile, though President Obama has surely enjoyed some of his time outside of the White House, he hasn't entirely stepped away from his space in politics. In fact, on Saturday, Prince Harry hosted him at Kensington Palace to discuss the Manchester terror attack during Ariana Grande's concert May 22.

"Good to see my friend Prince Harry in London to discuss the work of our foundations & offer condolences to victims of the Manchester attack," the former president tweeted.