Warren Buffett paid just $31,500 for his home of nearly 70 years. Read his 8 best quotes about buying a house.

REUTERS/Rebecca Cook

• Warren Buffett has lived in the same family home in Omaha for almost 70 years.
• The billionaire paid just $31,500 for the house, which is now worth about $1.4 million.
• Here are Buffett's best quotes about buying a home, which he says can be both a great and terrible idea.

Warren Buffett, one of the world's wealthiest people worth almost $130 billion, has lived in the same unassuming house in Omaha for nearly 70 years.

The...