Although Warren Buffett is frequently called ‘frugal’ the truth of the matter is that Buffett is a man of simple tastes. His home in Omaha, Nebraska, for example, was purchased for $31,500 in 1958 ($265,000 today). However, what most people don’t realize is that Buffett also owned a beach house in Laguna Beach which he and his family used as a family retreat. And now, you can own it yourself, if you have the cash.
As it turns out, Buffett has decided to sell the vacation home, stating that his family doesn’t really use it much since his wife Susan passed away in 2004. The home, which is not on the beach but does offer views of the ocean, is listed at $11 million.
The three-level house was built in 1936 and when Buffett bought the house, the area was not yet developed. Since that time the area has developed into a pretty nice gated community.
Buffett reportedly bought the home in 1971 for around $150,000 and his family spent many summers and Christmases there. Buffett even said that he often wrote the Berkshire Hathaway annual shareholder letter in the master bedroom of the beach house.
As one might expect, the house lacks much of the flash normally associated with the vacation homes of billionaires. The whitewashed multi-level building takes up a modest modest 3,588 square feet of space. The home includes a family room with a fireplace, a dining area, a kitchen with a skylight, seven bathrooms, and five bedrooms; two of which can be accessed from the outside as they were designed for guests. The two garages can accommodate three cars. Although Buffett did own the building next to it for guest overflow at one point, it was sold for $5.5 million in 2005.
Reporters asked Buffett if he intended to purchase a new vacation home once this one sold, but Buffett, who is often quoted speaking on how much he loves his job, replied, “If you want to know where I want to go for vacation, it’s the office.”
To check out images of the beach home, click here.