These days, anyone house hunting is likely to come across foreclosure listings, and we’re no exception. At first we hesitated to consider this one. Buying a home from a willing seller feels different than taking ownership of a house someone has lost, and recent stories about wrongful foreclosures made us uneasy. Still, the exterior caught our eye — the curb appeal was strong — so we decided to tour it and see whether the inside matched the promise of the outside.
THE STATS:
- Year built: 1960
- Living area: 2,659 square feet
- Lot size: 0.4 acres
- Bedrooms: 4
- Bathrooms: 2.5
THE PROS:
- Very affordable compared with similar listings in the neighborhood
- Needs extensive renovation, which appeals to buyers looking for a substantial fixer-upper project
- Quality original features remain, including a slate roof and beautiful hardwood floors throughout
- Private, well-sized backyard that offers good potential for landscaping or outdoor living space
- Located in a desirable neighborhood with reputable schools and proximity to family
THE CONS:
- Strong, persistent smoke odor throughout the interior that will require thorough cleaning, deodorizing, and possibly HVAC work to resolve
- Sagging drywall in most rooms — addressing structural and cosmetic drywall damage is time-consuming and costly
- The house is large; while square footage can be an asset, it also means more maintenance and higher utility costs, and we prefer a smaller, more manageable footprint
- The sale cannot be made contingent on selling our current home, which means we would need to sell first or secure alternative interim housing
- Emotional and legal complexities around foreclosure purchases, including concerns about potential foreclosure irregularities, add another layer of risk
After walking the property, the positives and negatives were fairly balanced on paper, but the reality of living through an extensive renovation gave us pause. The combination of pervasive smoke smell and widespread drywall damage made the house practically uninhabitable in the short term. With a baby, moving into a home that needs major remediation before it’s safe and comfortable wasn’t an attractive option.
The contingency issue was also a significant factor. Because this foreclosure could not be purchased with a contingency, we would have to sell our current home before placing an offer. That opens up logistical complications: arranging temporary housing, coordinating timelines, and carrying two mortgage payments if things don’t align. For us, those uncertainties outweighed the low asking price.
We appreciated seeing the property in person, though. Touring homes that don’t end up being right for us is still valuable: each one we remove from consideration narrows the field and clarifies our priorities. This house had compelling elements — solid bones, attractive original materials, and a large yard — but the extent of required work and the immediate livability concerns kept it off our shortlist.
Choosing a fixer-upper is a personal decision that depends on budget, timeline, tolerance for renovation disruption, and willingness to manage contractor work. For buyers comfortable with a major project and who can handle bridge financing or interim living arrangements, a foreclosure like this could represent an excellent opportunity. For those who need a move-in-ready home or who must sell before buying, properties that accept contingencies will likely be a better fit.
Psst—Help! On BabyCenter we’re asking moving experts for tips to keep our upcoming move organized and efficient, especially with an under-one-year-old in tow. If you have advice for simplifying a move with a baby, please share your best tips and tricks to make the process as smooth as possible.