Warren Buffett puts Laguna Beach property on the market for $15.3m

This beach house at Laguna Beach, CA is owned by Warren Buffett, who is selling it for $15.3 million.
VILLA REAL ESTATE

This beach house at Laguna Beach, CA is owned by Warren Buffett, who is selling it for $15.3 million.

Warren Buffett, one of the three richest men in the world, didn't get where he is today by making a bad investment.

The multi-billionaire, who is worth US$75.6 billion (NZ$105.6b), has owned this beach house at Laguna Beach, CA, for nearly 50 years, and has finally decided it is time to divest.

The US$11 million (NZ$15.3m) house is so sparsely decorated we don't imagine Buffett has spent any time here recently, or maybe he just likes a (very) pared-back interior. His main house is in Omaha, Nebraska.

The six-bedroom property sits on a bend in the road.
VILLA REAL ESTATE

The six-bedroom property sits on a bend in the road.

But clearly the house has been a good investment – records show he paid $150,000 for it back in 1971. And there's the cool location, right near the beach at Emerald Cove. You even get a slice of the view.

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There's plenty of space to soak up the sun.
VILLA REAL ESTATE

There's plenty of space to soak up the sun.

Then there is the size. The 325 square-metre house has six bedrooms and seven bathrooms, and we know, the bigger the house the more it fetches, even if it isn't the greatest thing to look at. And let's face it, this house is rather plain. It also appears to be overlooked by the neighbours.

However, Buffett, who is known for his modest tastes, told The Wall Street Journal he bought the house because his first wife Susan liked it, not because he saw it as an investment. Susan Buffett died in 2004.

Buffett also said that during Christmas gatherings he often would hunker down in the master bedroom to write Berkshire Hathaway's annual report. 

This terrace appears to be rather overlooked by the neighbours.
VILLA REAL ESTATE

This terrace appears to be rather overlooked by the neighbours.

Listing agent Bill Dolby of Villa Real Estate told the Journal, "It has few of the pricey flourishes expected in the homes of billionaires. Much of the flooring is grey carpeting; the kitchen countertops are mostly white laminate."

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To quote Buffett's own words of wisdom: "Price is what you pay. Value is what you get."

Living areas open up to the terrace and the view.
VILLA REAL ESTATE

Living areas open up to the terrace and the view.

But there's plenty of room for a party.
VILLA REAL ESTATE

But there's plenty of room for a party.

The newspaper on the table is the Wall Street Journal, of course.
VILLA REAL ESTATE

The newspaper on the table is the Wall Street Journal, of course.

And here's a kitchen that wouldn't be out of place in the average Kiwi home.
VILLA REAL ESTATE

And here's a kitchen that wouldn't be out of place in the average Kiwi home.

It appears not a lot has been spent on the interior decorating.
VILLA REAL ESTATE

It appears not a lot has been spent on the interior decorating.

 - Stuff

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