“Not everybody has a boutique, custom architectural design-build firm in their back pocket,” he added. “So there are things that you need to look at. There’s aspects you need to consider.”
Factors like location, market value, construction repair costs and school choice can all play a role in the decision to move into your childhood home, according to the home builder. For Ippolito, prioritizing family values was at the heart of his strategy.
His parents listed their home for sale with the intention of leaving their “hustle-and-bustle” lifestyle in the coastal Golden Isles neighborhood of Hallandale Beach, Florida, to retire in the Gulf Coast town of Marco Island. Ippolito, who was living down the street at the time, then purchased the house his family was raised in.
FLORIDA ESTATE LISTED FOR $295M WOULD BE A RECORD SALE
“I wanted to preserve the way that my father originally developed it, but still incorporate what I thought was important from a design and a living standpoint,” the Miami-area native said. “As much as I wanted to save what me and my father built, me and my family built, the investment, the cost, it just wouldn’t allow it… it would not have been a good situation. So we decided to embody what my father did, and redesigned it.”
Ippolito’s development group just recently broke ground on the reimagined property, which will span 10,000 square feet and merge a contemporary and ranch-style living design. He sees the rebuild as a long-term investment, one that will retain value and increase net worth.
“The cost of redesigning and remodeling is different from the cost of demoing completely and rebuilding. And I think that really just has its place in where it is that we’re talking about… In your personal ability to afford it, not afford it, whatever the case may be,” Ippolito emphasized. “For me, it was worth creating the perfect home for my family, but I also think it’s an investment. Regardless if it sells or not, it doesn’t matter. It’s still an asset that we will always have, or we will pass on, or we will sell.”
Troy Ippolito’s redesign and construction of his childhood home will span 10,000 square feet.
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