Charlie Munger emphasized the importance of investing in landscaping over interior renovations to increase home value. He referred to neglecting landscaping as building malpractice and cited his own success story from the 1960s, where an investment in landscaping contributed to a 400% return on apartment investments near Caltech. Studies support Munger's belief, showing that landscaping can raise home values by up to 30%. Munger's partner, Warren Buffet, acknowledged Munger's preference for investing in landscaping.
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00:00Charlie Munger once said, spend money on trees and you'll triple it.
00:04Forget kitchen remodels, if you want to boost your home's value, the secret isn't inside, it's outside.
00:11Munger called skipping landscaping, building malpractice.
00:15In the 60s, Munger and a partner of his invested $100,000 to build apartments near Caltech.
00:22They walked away with $500,000 each, a 400% return.
00:27Their not-so-secret weapon? Lush landscaping.
00:32Studies show that landscaping can raise home values by up to 30%.
00:36Munger believed first impressions sell homes, and trees sell fast.
00:41So before you blow your budget on countertops, plant a tree.
00:45Charlie did, and he turned $100,000 into $1.4 million.
00:49That's why Warren Buffett said, Charlie just liked playing the game.