These days, anyone house hunting has probably come across foreclosures the way we have. We were conflicted about considering one. Buying from a willing seller feels straightforward, but taking a home from someone who lost it is unsettling—especially with recent stories about improper foreclosures. Still, we toured this property because the exterior had a lot of charm and we wanted to see the interior for ourselves.
THE STATS:
- Year built: 1960
- Living area: 2,659 square feet
- Lot size: 0.4 acre
- Bedrooms: 4
- Bathrooms: 2.5
THE PROS:
- Very affordable compared with similar nearby homes
- Needs extensive renovation — which suits DIY-minded buyers
- Slate roof and beautiful hardwood floors throughout
- Private, well-sized backyard
- Located in a desirable neighborhood, close to family and strong schools
THE CONS:
- Strong smell of smoke throughout the interior
- Sagging drywall in many rooms, requiring major repairs
- Large footprint — more space than we prefer to maintain
- Must be purchased without a sale contingency, so we’d have to sell our current home first
- Foreclosure purchases can be risky and emotionally difficult given concerns about wrongful foreclosures
On paper the pros and cons almost balanced, but the house felt essentially uninhabitable without significant work to fix the drywall and eliminate the smoke odor. We wouldn’t want to move our daughter Clara into this home before addressing those issues. Since buying it would likely require selling our current house before making an offer, we’d also face the logistical challenge of temporary housing during renovations—an unnecessary complication when other homes will accept contingencies.
Still, touring the property was useful. Seeing the interior let us rule it out quickly and confidently. Each house we visit that doesn’t feel like “the one” gets crossed off the list, which brings us closer to finding the right home.
Psst—Help! On BabyCenter we’re gathering moving tips from experienced parents and movers. We’ll be relocating with an infant under one year old, so any practical advice for keeping a move organized, calm, and efficient would be hugely appreciated. Share your best tips with us.