When it comes to living in and buying homes, some people like to stay in one place and other people like to regularly move. Let’s look at Warren Buffett as our prime example. Since he is a very rich multi-billionaire investor, he can live wherever he wants. And yet he has lived in the same house in Omaha that he bought in 1958. The total cost of the house back then was $31,500.
No, you are not confused. I am talking about the billionaire Warren Buffett. Wikipedia has referred to him as the most successful investor of the 20th century. As I’m sure you have guessed already, he is a stayer. Is it possible that he is even a romantic?
Let’s take another quick look at the movers and stayers theory.
I come from a family that has lived in the same house for over 30 years. But my significant other, on the other hand comes from a family that moved seven times before she was a teenager. This was shocking to me since I grew up in a family that stayed in the same home. I knew people like this existed, but they really weren’t on my radar. I thought people like Warren Buffett who stayed in the same place the majority of their life are the norm.
But guess what? It turns out that the average American moves up to 11.7 times throughout the entirety of their life. And when the local Lotto jackpot climbs really high, most people start talking about how they can’t wait to move into an incredible mansion.
Most people dabble in this type of fantasy. I’m sure you’ve spent hours online looking at mansions and other beautiful homes. You most likely even fantasize about moving into this home, and how your life would change if you could live in a home such as this.
But take some time to look around your current home. Think of all of the wonderful memories you have, and other similar things like that. If you are a stayer, it will be hard to let go of your home because of the wonderful memories.
But here’s the main take away from Warren Buffett…
Do you really think that he’s stuck with a house that’s only worth about $250,000 today? Of course not. He can get up and leave whenever he wants, but he won’t because of the wonderful memories.
This is proof that money cannot buy happiness. He’s obviously happy in this house since he lived there for 55 years, and plans to continue to stay.
So look at Warren Buffett as a guy who understands what’s really important in life. Even though he has more money than most people in this world, he understands that it doesn’t buy everything.