Warren Buffett Bought His Laguna Beach Home for $150,000

In 1971, billionaire and philanthropist, Warren Buffett, spent $150,000 for his Laguna Beach, CA vacation home. (The median and average sales price of a new home sold in the US in 1971 was between $24,000 to $26,000.)

His wife liked the house so he bought it without thinking of its investment potential. At the time, the area was underdeveloped. In the ensuing years, home values skyrocketed into the millions.

Photo Credit: Todd Tankersley

Built in 1936, the 3,588-square-foot house was recently put on the market 25 days ago for $11 million.

Located at 27 Emerald Bay, the six-bedroom/7 bath corner lot home is steps from the beach. Ocean views can be seen from most of the rooms.

Home Features

-Five of the six bedrooms have en-suite baths

-Two bedrooms have private entrances (great for guests)!

-Ocean viewing deck is separate from main house

-1 Car garage with access to house

-Separate 1 car garage

Bill Dolby is the listing agent at Villa Real Estate in Newport Beach, CA

Photo Credit: Todd Tankersley

 

7 thoughts on “Warren Buffett Bought His Laguna Beach Home for $150,000

  1. Spending $150K without thinking in 1971 is like spending $900K without thinking today. He was still rich, even in 1971.

  2. I don’t blame her for falling in love with it or him for buying it for her without analyzing the cost benefits regarding investment.

    Fabulous house.

  3. Emerald Bay is a gated community that’s situated between Pacific Coast Highway and the Pacific Ocean. Ever since I was a kid growing up in the 60’s and 70’s it’s always been a beautiful place and very desirable. Private beach, gated neighborhood, many of the neighbors were only there in the summer. And Laguna Beach back then was crawling with artists and bohemian types like The Greeter, there was (still is) the Sawdust Festival and the Pageant of the Masters – very quaint and very distictive.

    It’s your own private little world. I can see how Warren’s wife would have fallen in love with it.

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