Reposted from 1912 Bungalow Blog: "I just read an interesting article in the New York Times: “Don’t Hate Me Because I’m Solvent“. A couple purchased a 1913 Tudor brick house for $65,000 12 years ago in Akron, Ohio. The home is amazing (before and after photos included in the article) with 6 fireplaces, solarium, billiards room and servant call buttons. The couple offered the owner 45K less than the already reduced asking price. The offer was accepted because the house was about to be condemned.
They tackled the majority of the restoration work themselves, saving a considerable amount of money in the process. The couple has no debt except for a 55K mortgage. It is an interesting comparison to people who purchased more house than they could afford and are now feeling the pinch.
The restoration, still ongoing, is not without personal sacrifice. One of the things that I have struggled with during our ongoing house restoration is the loss of personal time, family time and trying to strike a balance between working on the house and “having a life.”
When asked how long projects like re-caulking 733 window panes takes, the home owner replied:
“Years,” Mr. Giffels says. “This is where I’m glad I wrote the book 10 years later, it gave me a perspective of all the time it cost: All my vacation time, all my possible spare time, a number of years of my children’s growing up I gave to my children’s house. And once you get in it, you can’t get out, you can’t sell a house in that condition. When all of a sudden you realize what it is costing you in your life, it’s too late.”
Boy, I can sure relate to that sentiment. How about you?
Although, after reflection, the couple says they wouldn’t do anything differently. And, I understand that feeling, too.
A book, “All the Way Home: Building a Family in a Falling-Down House,” recounting the couple’s experience comes out next month."
3 comments:
cool article! I would love to have an older home and do this someday. While I can't relate now I can certainly relate to the part about buying the house you can afford and nothing more. Hence the reason we live where we do. :) It's really great not to feel like you're going to lose your house.
That's what we did, it was nice living with no mortgage.
Rob's sweater looks great, will wait for a picture of him in it.
Also, I love that tree. Take another when it is in full bloom. Maybe that will happen when we are there.
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