US News

HIGH LIFE ON ‘FARM’ FOR O

WASHINGTON — President Obama and his family are planning a vacation next month fit for the rich and famous on a spectacular Martha’s Vineyard waterfront farm.

The Obamas plan to rent the stunning 29-acre Blue Heron Farm, a glamorous spread featuring spectacular views, a private beach, and even its own private golf tee, the Vineyard Gazette reported.

With a main Victorian farmhouse, a five-bedroom “guest house,” a reconstructed Pennsylvania barn and New Hampshire shed plus other out buildings, Obama will have room to roam and space to accommodate an entourage while meeting the government’s security needs.

The sprawling property, located in the town of Chilmark, is owned by Mississippi timber magnate William Van Devender and wife Mollie, who have decided to rent it for two months this summer.

It sold for more than $20 million in 2005. The prior owners hosted Bill and Hillary Clinton in the summer of 1998.

The cost to Obama was unknown, but similar luxury rentals in the area go for between $35,000 to $50,000 per week, about what the average US wage earner earns in a year.

Obama can practice his jump shot on a private basketball half-court or indulge his golfing jones by teeing off on a private tee with a 300-yard fairway leading to a putting green.

He can also stroll to a private saltwater pond or take a dip in the Atlantic from a private beach.

“We’re in discussions with a number of parties in regards to subleasing it for blocks of time,” Tom Wallace, of Wallace & Co. Southeby’s International Realty, told The Post. “I have some restraints as to who those parties are.”

Obama was due on the island for the last week of August and was expected to pay the rental out of his own pocket. His family might arrive in advance.

The house has a private dock with a Boston Whaler, a catamaran and several kayaks, but it was unclear whether use of the boats comes with the deal.

Its pool is “one of the prettiest pool’s I’ve ever seen,” said Wallace, while the hot tub overlooking the water offers “total privacy.”

The compound is located in the town of Chilmark, where many of Obama’s neighbors will be the same people coughing up cash for the “millionaire’s” surtax the president endorsed Wednesday to pay for health reform.

It features something for everyone in the family.

There is a private vegetable garden for First Lady Michelle Obama, who favors locally grown produce.

If daughters Sasha and Malia want to plan a sleepover, there’s a miniature boathouse with a loft on the water.

geoff.earle@nypost.com