Kristina Knighten and Paul Cordier are transforming an abandoned two-bedroom lakeside house on Lake Iseo in Lombardy after buying the property for €23,000.
The couple, who ditched plans to buy a home in Chicago after struggling to obtain mortgages in their native countries, estimate the total renovation will cost around €120,000 (£102,900).
Knighten, 40, originally from Chicago in the United States, and Cordier, 48, from the United Kingdom, purchased the property in 2020 for £19,700. Both had struggled to get mortgages in America and Britain because they were living and earning money abroad. They decided instead to build a life together on Lake Iseo, a pre-alpine lake situated in northern Italy's Lombardy region, an area within what Italians call the bel paese, or beautiful countryside.
The two-bedroom house directly overlooks the water, but the buyers quickly discovered that restoring an abandoned historic property involved significant unexpected expenses. Speaking exclusively to the Daily Mail, Knighten admitted that they definitely did not know what they were signing up for financially.
Unexpected costs and local teacher funding
Before purchasing the property, the pair were aware that the building required a new roof and a new floor on the upper storey. However, sharing updates in a video on their Instagram account, @theworldisyouroystermushroom, Knighten explained that they did not know that in fact it needed a new everything.
When they bought the home in 2020, Knighten and Cordier had around $40,000 in savings, which equated to €35,000 (£30,000) at the time. They saved up for a few more years before beginning the major renovation work in 2024, when the Daily Mail first interviewed them.
To begin the project, the couple initially hired local contractors to complete some of the construction work. However, Knighten said they ran out of cash pretty quick. To keep the project moving forward, both now work locally as freelance teachers.
Knighten explained their financial approach to funding the ongoing work, saying: "We work a lot and live very frugally, and then we'll get a bit of cash saved and we reinvest that all into the house."
Cordier also carries out much of the physical renovation work himself to help save money on labor costs. Working as freelance teachers in the local area allows the pair to fund the remaining building work step by step whenever extra funds become available.
Structural repairs and unexpected expenses
So far, the structural flooring work and the roof replacement have been completed, leaving what Knighten described as the last bits of messy work, such as plastering and repointing the walls.
Along the way, the couple uncovered several structural challenges with the house. In particular, they discovered a downstairs window over which the lintel was really bowing. A lintel is a horizontal structural beam that spans an opening such as a door or window to support the weight of the structure above it.
Knighten explained the danger posed by the sagging lintel, noting: "If the lintel were to break, that wall would have crumbled in a significant way, so we had to fill in that wall." Their engineer subsequently had to calculate how to reinforce the entire building structure.
Knighten pointed out that there was no way to discover the flaw beforehand, saying: "There's not really a way we could have known about that until we started doing the renovations." She added: "That was one of the bigger added expenses, just making sure that you know this building that stood for hundreds of years can stand for another couple of hundred."
The couple also had to navigate another setback when Cordier injured himself during a water skiing incident. The injury meant he was out of action and unable to work on the house for some time.
Medieval stone walls and historic features
Despite the difficulties, the project has brought several pleasant surprises, including the discovery of historic architectural details hidden inside the structure. In a video posted to TikTok, where the pair also share updates, Knighten explained that all the internal walls were plastered over when they bought the home.
Because the existing plaster was old, the couple decided to remove it. Underneath the layer of plaster, they discovered gorgeous medieval stone walls. The discovery required a painstaking task of repointing, as the couple plan to keep the original masonry exposed throughout the completed home. Repointing is the process of renewing mortar joints between stones or bricks to protect the building against moisture and decay.
Workers also discovered a medieval window that had been bricked up beneath the plaster. Knighten described finding the window as very exciting, explaining: "This was so cool because we had no idea how old the house was. Italian record-keeping doesn't go back that far when it comes to individual residential houses."
Based on the medieval architectural elements uncovered during the work, Knighten and Cordier estimate that their house dates back to at least the 1700s and before.
Living conditions and future outlook
Regarding overall costs, Knighten estimates the total project could cost about €120,000 (£102,900) by the time it is finished, noting: "It's hard to say exactly, probably about €120,000 (£102,900)." She added that it would be difficult to purchase a two-bedroom house in the Lake Iseo area for such a good price.
Until the restoration is completed, the couple are living free of charge in an apartment owned by Cordier's sister, located just two doors down the street. However, that living arrangement presents its own difficulties.
Knighten described the sister's flat, saying: "I don't think anything's been touched in this house since the 1950s, there's no heating in the house, the bathroom is outside. It's rustic, but we're making it work."
After encountering numerous delays, Knighten is reluctant to state a firm end date for moving into their home. She explained: "It is hard to say, and it just depends on funding and stuff. Since starting this project I've had so many move-in dates in my head and every single one has come and gone, so I'm hesitant in my own mind to even put in a hopeful date of moving because I just know how it can go."
Nevertheless, the couple remain focused on finishing their hard work, with Knighten insisting: "I think it'll all be worth it."
Reflecting on the long renovation journey, Knighten questioned whether they would make the same choice again. She said: "It's hard to say, if we knew then what we know now would we have made the same decision? I don't know because we could have taken the money that we purchased this place with and then the amount of savings we were able to accumulate in the three years following the purchase and bought a habitable property."
Despite the challenges, Knighten emphasized that they have learned a lot through the process, made many friends, and totally fallen in love with the town, the neighbors, and the community. She concluded: "I don't regret it for sure, nor does Paul, but we definitely didn't know what we were signing up for financially."
