Instead of paying pricey mortgage payments, you’ll be able to put more of your money toward savings, retirement or vacations.Īnd if you must take out a loan, perhaps get a 30-year mortgage - it’s “the best instrument in the world,” Buffett told CNBC. If you want to live like Buffett, consider buying less home than you can afford. But these days, the home is worth about $161 per square foot, according to the home’s current value listed by the tax assessor’s office in Douglas County, Nebraska, where Buffett lives. In today’s money, Buffett would have paid about $43 per square foot for the 6,570-square-foot home. “I wouldn’t trade it for anything,” he told CNBC earlier this year. Buffett has no intention of putting his own home up for sale. He lives in the same residence in Omaha, Neb., that he bought in 1958 for $31,500, the equivalent of roughly $285,000 in 2020 dollars. Billionaires live in mansions, right? Not Buffett.
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