Inside Warren Buffett's Omaha House

5505 Farnam St., Fairview, Omaha, Nebraska, is home to a distinguished resident whose name will be no stranger to almost anyone alive.

Born in Nebraska, USA, Warren Buffett, nicknamed the "Oracle of Omaha," is one of the most successful investors ever. His net worth and how he made it is the stuff of legend, yet he lives a modest and frugal lifestyle.

Testament to that is the billionaire has lived in the same house in the same neighborhood with his late wife for over 60 years. After renting 5505 for a few years back in the mid-50s for $175 a month, Buffett and his wife loved the stately home so much that he put in an offer.

Built in 1921, Buffett purchased the house in 1958 for $31,500, the equivalent of $329,505 in today's dollars. Realtors have appraised it at between $1.2 and $1.5 million if put on the market today.

Location

The five-bedroom, 2.5-bathroom house is situated in downtown Fairview, a well-to-do, leafy suburb, with the University of Nebraska within walking distance. It is only a five-minute-long drive from McDonald's, which is what Buffett starts his day with for breakfast.

Located on the corner of Farnam and S 55th Streets, passers-by will likely not notice that the Buffett residence has two frontages. Access to the double garage and ample parking area is via S 55th Street. The entrance to the house interior is through the large mahogany front door on Farnam Street.

Architectural style

Buffett's house is an eclectic mix of styles. One aspect of the beige-bricked house looks like it belongs on farmland, with its barn-shaped roofline. Rectangular lead-paned windows let in copious amounts of light. A giant chimney stack and a long verandah complement the front facade.

It's edged on the two sides by a mix of hedges, wooden gates, and wrought iron fencing. Buffett’s car can often be seen on the spacious driveway, though there’s a double garage at right angles to the street.

Interior

As you move inside, white is the dominant color running throughout the house, offset by shades of black, grey, and biscuit.

The heart of the home is U-shaped and features a chandelier in the center. The breakfast nook overlooks an informal lounge. This cozy area is where Buffett relaxes.

The mansion also has a more formal lounge with lofty, white-beamed ceilings mimicking the barnlike roof structure you see from outside.

The second-floor access is via the hardwood and white, wrought-iron banistered staircase.

A Romeo and Juliet-like balcony at the top allows a novel view of the simple but supremely elegant parlor.

A stunning chandelier takes center stage in the compact dining room, just off the formal lounge. It has undoubtedly seen its share of famous and distinguished diners for small, intimate soirees.

An invitation to dine at Chez Buffett is highly prized.

Upstairs, you will find the five bedrooms, the en suite, and the guest bathroom. The master is tastefully furnished and decorated in white, with black accents.

One can't help but notice a recurring theme of arched doorways, and the entrance to the sunroom is no exception.

This room, just off the master bedroom, has a special place in Buffett's heart as it is where he began his ascent to become one of the wealthiest and most respected financial boffins the last and this century has seen.

Hand written across the top of the door is "The Birthplace of Buffett Associates," "May 1956," "Warren E Buffett." This inscription alone could be worth a lot of money when the house is sold.

Lifestyle

It's no secret that Buffett is notoriously frugal. Never one to splash his billions around, he changes his car around every decade; his double garage has sadly not seen many high-end, expensive cars over the years. He proudly claims to only buy pre-loved cars like Cadillacs and Lincolns.

It's not all work and no play for the billionaire. He loves a good game of bridge, and his several grandchildren have filled the bedrooms of this much-loved house.