Living in a $1.5 million house while paying a $31,500 mortgage — and why that math still works

Living in a $1.5 million house while paying a $31,500 mortgage — and why that math still works. Warren Buffett bought a house in Omaha, Nebraska, in 1958 for $31,500. The inflation-adjusted equivalent today is $329,505, still below the national average home price. The property, built in 1921, has five bedrooms and two and a half bathrooms. It is now worth approximately $1.5 million. He has lived there for nearly 70 years. The house is fully paid for, meaning Buffett incurs no mortgage payments. He avoids personal debt entirely, a principle he attributes to his rule: 'never lose money.' Avoiding borrowing keeps his personal expenses low. With minimal housing and living costs, he channels more capital into investments. Those investments compound over time. His net worth is $143.6 billion, according to Forbes.