We recently read a story about a son moving back into his family home in South Philadelphia after his parents had passed away. He hadn't lived there in nearly 15 years and was planning on occupying the space while he and his brothers worked on getting it sold. That's not necessarily how things played out.
Peter Kourahanis still lives in his family home in South Philadelphia. Even though it certainly wasn't his plan, he made the best of it and transformed the outdated home into his dream home.
When he returned to the neighborhood it wasn't the same place he grew up in. The neighborhood wasn't the upscale Rittenhouse he had grown accustomed to and that took some getting used to. Eventually he decided to buy his brothers out and call the home his own.
Over a 10 year period, Peter renovated the home &mdash without the help of financing. He exercised a staggering amount of patience, so much that he was able to renovate a home strictly from out of his own pocket (a total of $50,000). He was able to do so by working from top to bottom and transforming a traditional home into an "East Village loft in South Philly."
We found his story interesting and it made us think of the large number of people in his same situation—inheriting a house that you're not quite sure what to do with. There are so many things that factor into deciding whether or not to keep your family home.
Check out the complete article: The Philadelphia Inquirer | One Man's Renovation Odyssey
If you've fixed up your family home, what was your experience?
(Image: Kristen Lubbe from Tim & Sara's South Philly Setup)