Washington (CNN) It's only been little more than four months, but it appears Barack and Michelle Obama are so enamored with their posh Washington, DC rental home, they've plunked down a whopping $8.1 million to purchase it.

The sale was first reported by the Washington Post . Obama's spokesman, Kevin Lewis, confirmed the sale to CNN: "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 the property."

The Obamas have said they were committed to remaining in Washington while their youngest daughter, Sasha, completes high school at Sidwell Friends School, where she is scheduled to begin her junior year in September.

However, the former first couple may have overpaid. The real estate website, Zillow.com, lists the estimate for the nine-bedroom, 8.5-bathroom stone mansion at $6.187 million, about two million less than the Obamas paid for it.

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Property values for homes in the Kalorama neighborhood, where the Obama house is located, have likely shot up in recent months, as the tony enclave has seen several high-profile residents move in, including Ivanka Trump and Jared Kushner, whose rental is just up the block from the Obamas'.

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