The new cool: a debt-free renovation

DebtfreeThe solarium above, once rotted to the studs, was lovingly restored by a couple in Akron, Ohio.

What makes this story newsworthy enough to land in the New York Times is that this room and all rooms in the 1913 Tudor were fixed up by the homeowners without incurring any debt. Other than the home’s mortgage (David and Gina Giffels paid $65,000 for it), they have no debt and no credit cards. Everything that was done to the house was done with cash on hand.

David wrote a book about the 12-year process of saving the house in a book, “All the Way Home: Building a Family in a Falling-Down House,” coming out next month from HarperCollins.

According to the story, David’s obsession with fixing up the house, spending vacation time and weekends with it rather than with the family, put a strain on the marriage.

Still, you have to admire a guy who (1) fixes up a house and (2) is debt-free. Is this the new cool?

Read the whole story and view the slide show.

(Photos: New York Times)

1 Comment on The new cool: a debt-free renovation

  1. lil_gaucha

    very cool for the house and the neighborhood, but someone needs to get his obsessions in check and figure out his priorities.
    I’ve seen renovations, debt free and otherwise, ruin so many marriages. Perhaps a book on surviving renovations AND keeping your family intact would be something worth packaging this one with.
    That said, we’re doing essentially the same thing. No loans beyond the mortgage. It’s very slow going and we’ll never do it again, but it’s been kinda fun.