Yahoo Finance Warren Buffett Is Selling His Laguna Beach House
In 1971, Warren Buffett's then-wife took a particular interest in a Laguna Beach home, which was in an underdeveloped area but within close proximity to the beach. The investor paid $150,000 for it.
Now, 46 years later, he has listed it for $11 million.
It may seem like a predictably savvy move from arguably the world's most successful investor, but Buffett said he only bought the home because his wife liked it, without thinking about its investment potential, reports The Wall Street Journal. Since then, interest in Laguna Beach has exploded, and the house can command a hefty price tag despite its quiet aesthetic (even the listing agent describes it as "on the simpler side").
Situated on a corner lot, the 6-bedroom, 7-bathroom home is a short walk from the beach and in the gated beach community of Emerald Bay, according to the listing.
The white-walled house was built in 1936, and showcases a skylight-topped kitchen and two bedrooms designed specifically for entertaining guests. Buffett, who has a net worth of nearly $74 billion, has said that he remodeled the property many times during his ownership.
Still, the home's features remain understated in a way that shows the homeowner isn't one to spend on frills: Plain gray carpet anchors the bedrooms and living spaces (save for one bedroom with a particular burst of pink carpeting), artwork is minimal and the furniture is straightforward.
Buffett now primarily lives in Omaha, Nebraska, and has spent less time at the property since his first wife, Susan, passed away in 2004 - which is why he's now putting the house on the market, reports The Wall Street Journal.
Though it may not stop us from occasionally splurging on an amazing rug or dining room table, this house is a lesson in the power of frugality and patience (47 years of it, to be exact). Swipe up to check out more photos of the home.
h/t: Curbed
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