Even though Hillary and Bill Clinton are hoping to move into the White House come January, the power couple recently bought up a $1.16 million home in Chappaqua, a suburb north of New York City.

According to Trulia, the 3,631-square-foot, three-bedroom, three-and-a-half-bathroom ranch-style home sits on a 1.5-acre lot and boasts a large pool and backyard with plenty of space for their daughter Chelsea Clinton, her husband Marc, and their grandchildren, Charlotte and Aiden, to come for a visit.

The new house is located right next door to the Westchester home they've owned together since 1999 and will provide overflow space for extended family or perhaps even for the former POTUS's Secret Service members.

With a huge open floor plan layout, bedrooms for the grandkids, and a charming pool and large backyard, this house is definitely fit for a former president, as well as his presidential hopeful wife.

Here's to hoping the new home has plenty of closet space for Clinton's colorful array of pantsuits!

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VIDEO: Take a Tour of Hillary and Bill Clinton's New $1.16 Million Chappaqua Home Next Door