We all know that Warren Buffett is one of the greatest investors of the 20th century. Also, Buffet is among the top ten billionaires in the world. However, people used to say that Warren Buffett lives in a modest size house. Yes, why American business magnate known as the Oracle of Omaha spends his life simple by living in his old house in Omaha? We can assume that it is the frugality of Warren Buffett. But frugality is a good habit that helps to stable the wealth and save for the future. That’s why many rich people, including Warren Buffett, live below their means.
Warren Buffett’s Omaha house was a huge investment
Yes, of course. When we talk about Warren Buffett house, most people argue that it cost $31,500. Actually, it is 50% true; because Buffett has bought it at near to that cost in 1958. But do you know that Omaha house was estimated to be worth around $285,000 in 2019? Of course, it is just like another best investment of Warren Buffett. Still, Buffett lives in the same residence that he bought from Omaha, Nebraska. Also, Buffett has said “I wouldn’t trade it for anything” to CNBC in 2020.
Yet, the man who owns $78 billion net worth living in a modest house is confusing to many people who aspire to luxury. However, despite having the ability to buy any house or even hotel in the world, he prefers to live in a simple house in Nebraska where he grew up.
The house was around 6570 square foot. Buffett was paid $43 per square foot in today’s money at the earlier stages. But today, one square foot is worth around $180. So the current value of Omaha house has estimated around $915,000. Surprising, right? There are no debuts of his investments and that’s why Buffett considers it the “third best investment.”
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How big is Warren Buffett home?
Many people say that the house is modest, but it is a significant size house with basic features. Locate in Omaha, a quiet Nebraska town. The home offers Buffett a pretty relaxed and simple lifestyle.
As we mentioned, it covers 6570 square foot. The Omaha house consists of 5 bedrooms and 2.5 bathrooms. And the front of the home, there is a large driveway where he parked his loved Cadillac. Also, the inside of the house has beautiful and decorated carpet, marble side tables and vintage style furniture.
Yet, various paintings are displayed on the walls of the living areas and there is a collection of sofas with fun patterns. One of the lounge areas consists of a bookcase wall with hundreds of books on display. As a book lover and avid reader, Buffett says this is one of the most favourite areas in his home.
Also, he never had any security features in his home. But now, after a lot of urging, a fence, security cameras, and a security guard watch the house.
When asked why he doesn’t spend just a little percentage of his wealth to build a millionaire’s mansion, Buffett says…
If I could spend $100 million on a house that would make me a lot happier, I would do it. But, for me, that’s the happiest house in the world. I have a house bought 55 years ago. It’s warm in the winter; it’s cool in the summer. It has all things I wanted plus it has all kinds of good memories. Like my kids, I have good thoughts about that. I can’t imagine living any better.Warren Buffett
He sold his more expensive Laguna Beach house
Buffett also owned a 3600 square-foot vacation house located at Laguna Beach, California. The interesting fact is he bought it as he was a millionaire at a young age. Also, he could afford it better with his millions of wealth, and it was $150,000 when he bought it. We know that many millionaires and billionaires own their millions of mansions with unbelievable features. But Buffett was a completely different person between them.
He has bought it just to appease his late wife Susie. So he sold this vacation house back in 2018 for $7.8 million and left for his favourite residence in Omaha.
Does Warren Buffett own more secret houses?
According to researchers and reports, Buffett has born in Omaha, Nebraska where he is still living but at a different house. Although, Buffett didn’t have a secret life of hiding things from the world, so he bought the Laguna beach house at a young age for his vacations and sold it in recent years. After that, he went again to his Omaha residence. And still, Buffett lives in there.