PHOTOS: See Inside Bernie Sanders’ New House on a Lake

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Former presidential candidate Bernie Sanders and his wife, Jane, have a new lake house and it cost them $575,000. The home, located in tiny North Hero, Vermont, will be used as a vacation home by the Sanders' family, according to local news reports. People Magazine says it will be used as a summer retreat. The Sanders already own two other homes - one in Washington D.C. and one in Vermont, although Jane told the news site Seven Days: “My family had a lake home in Maine since 1900, but we hadn’t had the time to go there in recent years — especially since my parents passed away. We finally let go of it and that enabled us to buy a place in the islands — something I’ve always hoped for." Bernie Sanders' net worth is lower than many others in Congress and certainly those who hit the presidential trail, but he has received criticism for some because the third home costs more than many American families can afford, and he ran on a platform of income equality. Jane Sanders is a former college administrator. The real estate listing for the new lake home says the home is a “restored 1910 house w/ large open kitchen & 500′ of gradual, clean, direct lakefront. Gorgeous lake & Mtn views. Attached separate guest quarters.” Photos on the real estate listing of the home, though, show that it is more rustic in nature than opulent. Sanders was defeated in the Democratic primary by Hillary Clinton. His wife, Jane, is her own income earner. Sanders' net worth was previously listed as being less than the new lake home cost. (Zillow real estate listing)