For a man said to be worth around $74 billion, an $11 million property sale probably hardly registers on his radar. The Laguna Beach home has been in his family for nearly 50 years and he will willingly share an interesting anecdote about the property. Acquired back in 1971 it was not the eagle eyed investment guru which is Warren Buffett who spotted its potential but his wife at the time. He paid a staggering $150,000 for the property and 46 years later it is on the market for $11 million.
A painful sale
Since Warren Buffett’s first wife passed away he spends less and less time at the property which we can only assume holds many memories for him. He is said to have bought the property simply because his wife “liked it” and while its value has increased from $150,000 to a staggering $11 million this is a property with a simplistic design and simple furniture. So, what do you get for $11 million?
When the property itself is described by the estate agent as “on the simpler side” you begin to get an idea of the frugal lifestyle enjoyed by Warren Buffett and his family. He has never been one for showcasing his wealth, on the whole keeps himself to himself and is not interested in the showbiz lifestyle many people crave.
The property itself is part of the Emerald Bay beach community which is a gated complex just a short walk from the beach. There are six bedrooms and seven bathrooms although the centrepiece is probably the skylight-topped kitchen. Built in 1936 the original characteristics of the property have been maintained despite the fact that Warren Buffett has “remodelled the property many times during his ownership”. The decor is plain to bland although there are some sprinklings of colour with one of the bedrooms boasting pink carpeting.
The first thing which hits you when you enter the property is the spacious nature of the design which perfectly complements the eye-catching views. The opportunity to live within a secure gated complex offering access to a beach which is just literally a hop skip and a jump away is like gold dust. This looks like a stereotypical holiday pad where you can get away from the hustle and bustle of everyday life and enjoy some peace and quiet.
When we describe the decor as plain/bland that is by no means detrimental to Warren Buffett and his former loving wife. What this now offers is the opportunity for new owners to come in and put their own stamp on this beautiful property. The frugal nature of Warren Buffett’s life means he will probably haggle to the last dime but compared to other properties in the region this is probably worth every dollar of the $11 million asking price.
Despite Warren Buffett reported to be worth an estimated $74 billion the relatively simple decor in his Laguna Beach property may take some by surprise. However, this is not a showbiz residence; this is a private home where chosen guests are able to relax. It does offer the perfect blank canvas which so many property developers have been longing for.