Warren Buffett selling home in Laguna Beachs Emerald Bay for $11 Million

Table of Content

• According to the listing, the home comes with a $9,264 annual association fee.
• There are plenty of wide-open windows to enjoy the views throughout the home.
• Billionaire Warren Buffett sells Laguna Beach home for $7.47 million
• Farmhouse Style House: A Timeless Classic Full of Natural Charm
• Warren Buffett's Homes

He had bought the home on a private cul-de-sac, in the Emerald Bay section of Laguna Beach for $1.05 million. Buffett is the chairman, chief executive and largest shareholder of the conglomerate holding company Berkshire Hathaway. The Omaha-based investor reportedly has a net worth in the tens of billions, making him among the richest individuals in the world. Buffett is the chairman and largest shareholder of conglomerate holding company Berkshire Hathaway. The Omaha-based investor reportedly has a net worth of nearly $74 billion, making him among the richest individuals in the world. Throughout Warren Buffett’s life, he has proven time and time again that he has the uncanny ability to make much more money investing in businesses than his peers.

A truly incredible piece of real estate, Warren Buffett’s vacation home is located in a gated community located a short walk from a beach. Additionally, the home has six bedrooms with all but one of them having a private bathroom, several entrances, lots of windows, and a patio. According to reports, Buffett’s family enjoyed the vacation home a lot over the years. Sadly, however, once the billionaire’s first wife passed away in 2004, they mostly stopped using the vacation home. As a result, Buffett decided to sell the home by putting it on the market in the mid-2010s. Even though he originally bought the vacation home for just $150,000, Buffett sold it for $7.5 million in 2018.

According to the listing, the home comes with a $9,264 annual association fee.

The house was renovated several times through the years but not recently, said the spokeswoman for the listing agent. Mr. Buffett also purchased an adjacent house, which he called "the annex," to make space for house guests, and connected the two homes with a staircase. Since he sold his vacation home, Warren Buffett has only owned one piece of real estate. Originally purchased in 1958, Buffett’s home is located in central Omaha and it is 6,570 square feet in size. For most people, that is a large house for sure but since it is the only home of a Billionaire, that is tiny. When Buffett originally bought the home, he paid only $31,500 and according to estimates, it is worth between $590,000 and $655,000 today.

Two of the six bedrooms have their own separate entrances, and a neighboring home that Buffett purchased shortly after buying the original house has since been linked to the main home with a staircase. This additional house, now attached, has been dubbed “the annex.” It was primarily used by Buffett to house additional guests. At 3,588 square feet, the Laguna Beach house is much different than Warren’s traditional Omaha home which is worth about $600,000. His California home is very contemporary with six bedrooms and seven baths, big windows, sculptured ceilings and recessed lighting to spotlight the home’s modern art, a long fireplace and multiple built-ins. Two of the bedrooms have private entrances so guests can come and go without disturbing others.

There are plenty of wide-open windows to enjoy the views throughout the home.

The inside of the house was intricately and delicately decorated with the likes of oriental style rugs, marble side tables, and vintage-style furniture. There were various paintings displayed on the walls of living areas and a collection of funkily patterned sofas. After nearly 50 years, billionaire investor and philanthropist Warren Buffett is ready to part ways with his Southern California home for $11 million. Money's Top Picks Best Personal Loans Over 170 hours of research determined the best personal loan lenders.

Two bedrooms have private entrances, and a large family room with an expansive viewing deck is separated from the main home. In August, he reduced the price by more than $3 million to $7.9 million. Again, Buffett didn’t buy this house because he wanted to win big in Southern California real estate—he just wanted a nice getaway for his family.

Billionaire Warren Buffett sells Laguna Beach home for $7.47 million

All rooms, including the large family room and decks, have ocean and beach views and the rock cliffs spilling onto the beach of Emerald Bay. That’s not to say that he didn’t make one splurge in personal real estate. While married to his first wife, Susan Thompson, he did buy a beach house in 1971 where the family of five would vacation and spend holidays. He purchased it for $150,000, overlooking the Pacific and only a short walk to the sandy beach. Now that it is no longer used, he put it on the market in early 2017 and is now ready to make a deal reducing the price by $3.1 million. The home has nearly 3,600 square feet of white-walled living space, a family room with a fireplace, a formal dining room and a skylight-topped kitchen.

Buffett is known as a genius investor, avid philanthropist, CEO of Berkshire Hathaway and one of the wealthiest and most successful men in the United States, and even the world. His father, Howard, was a stockbroker and also served some time as a U.S congressman. His mother was a homemaker and as a family, they were moderately well-off.

When most people envision what they would do if they suddenly made it rich, they are bound to think of things like paying off debts, going on vacation, and getting a fancy car. Still, there is one thing they will almost certainly think of before any of those things, buying a huge home. After all, thanks to shows like Lifestyles of the Rich and Famous and Cribs, it seems like living in an extravagant home is the number one indicator of wealth. Buffett is the third richest man in the world, according to Forbes, with a net worth of $60.8 billion. Susie Buffett, Warren’s daughter, told Dolby that three generations of the family have gathered at the home over the years.

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She attended the University of Notre Dame, where she graduated with majors in American Studies and Spanish. She is originally from Southern California but now based in NYC. Get the latest tips you need to manage your money — delivered to you biweekly.

The 3,588 square feet of white-walled living space includes a family room with a fireplace, a dining room area, a skylight-topped kitchen, five bedrooms and seven bathrooms. Two of the bedrooms were designed for entertaining guests and have separate entrances. The roughly 3,500-square-foot, three-level Laguna Beach home is in Emerald Bay, a high-end gated community with views of the beach. Two of the bedrooms have their own separate entrances for guests. The house fits Mr. Buffett’s famously understated tastes, with gray carpeting and white laminate countertops. Other rooms in the home include a family room with a fireplace, a white-walled living space, a formal dining room, and a kitchen with a skylight.

The bedrooms' layouts look well-suited for family visits.

He, Susan, and their three kids vacationed at this home for more than four decades, spending summers and Christmases there. Viewed that way, he’s more than gotten his money’s worth, regardless of the appreciation. He has had the six-bedroom home listed for over a year at $11 million, but recently cut the price by $3.1 million, now asking $7.9 million. Buffett did own another house, used as a vacation home, in Laguna Beach, California . He sold the vacation property in 2005 for almost $6 million, after nine years of ownership.

The median home price for Orange County is $829,000, according to the California Association of Realtors data from July. While that is up 5.6% from July 2017, the number of total sales fell 1.4% during that same period. Also in July, the share of price cuts on active listings in Orange County was 22%, up from 18% the previous July, according to listings portal Realtor.com. Mr. Buffett recalled hiding out in the home’s master bedroom to write Berkshire Hathaway’s annual reports during Christmas holidays, and visiting Disneyland with his children. Walls of glass and ocean-facing decks extend the living space outdoors.

Known for his Midas Touch in choosing investments, Warren Buffett is equally well known for being a bit of a cheapskate when it comes to living like the billionaire he is. Never one to be led by societal advancements, he refrains from using popular technology and has no egotistical need to keep up with the Joneses or prove that his anything is bigger and better than his peers. Of course, with a worth of almost $85 billion, he has few peers. The only visible evidence of his largess is the private jet he purchased in 1989, only because it saved time in getting to his meetings. The property originally hit the market in February 2017 for $11 million. In August, based on 29 sales, the median sale price for single-family homes in Laguna Beach was $1.838 million, according to CoreLogic.