Everyone house hunting right now is likely seeing a rise in foreclosure listings, and we’re no exception. We debated whether to consider foreclosed homes. Buying from a willing seller feels straightforward, but taking on a house someone else lost carries an emotional weight. There have also been troubling reports about wrongful foreclosures, which made us cautious. Still, the curb appeal of this particular property drew us in, so we decided to tour it to evaluate the interior and potential.
THE STATS:
- Age: 1960
- Home size: 2,659 square feet
- Lot size: 0.4 acres
- Bedrooms: 4
- Bathrooms: 2.5
On paper, the house had features that appealed to us and fit many priorities: solid bones, a generous layout, and a nice lot in a friendly neighborhood near family and strong schools. Those positives were balanced by serious drawbacks that would require time, money, and patience to resolve.
THE PROS:
- Low price compared with similar homes in the area, which can offer room in the budget for renovations.
- Plenty of renovation potential—this is attractive if you enjoy remodeling and can oversee a major project.
- Slate roof and original hardwood floors in many rooms, which are durable and desirable features when restored.
- Private backyard that offers space for play, gardening, or an outdoor living area.
- Located in a great neighborhood with nearby family and quality schools, which is a strong lifestyle benefit.
THE CONS:
- Strong lingering smell of smoke throughout the house, which can be difficult and costly to remove completely.
- Sagging drywall visible in nearly every room, indicating water damage or structural issues that require extensive repair.
- The home’s size is larger than we prefer; a big house means more cleaning, maintenance, and higher ongoing costs.
- The sale would not allow a contingency, so we would have to sell our current home before submitting an offer—adding pressure and logistical complexity.
- Emotional concerns about buying a foreclosed property, especially given reports of improper foreclosures, which raises ethical and legal worries.
Despite the appealing features and the bargain price, the interior condition of this house made it impractical for our current needs. The combination of pervasive smoke odor and significant drywall damage meant the home would be essentially uninhabitable until major remediation and renovation were completed. With a baby under one year old, temporary housing during renovations would be complicated, and we would have to sell our house before making an offer, removing the safety of a contingency.
For families prioritizing move-in readiness and minimal disruption, especially with young children, a property requiring structural work and deep cleaning can be impractical. In our case, the disruption and timeline were enough to rule this house out even though the numbers looked tempting. Touring it was still worthwhile: seeing the condition firsthand allowed us to make an informed decision and officially remove it from our list of possibilities.
Each home we rule out brings us closer to finding the right match. Visiting properties that don’t fit helps clarify priorities—what we can tolerate, what we can remodel over time, and what we absolutely need to avoid. While foreclosures can offer significant savings, they often come with hidden costs and complications that make other options more suitable for buyers who require a smoother transition.
Psst—Help! We’re collecting tips from experienced movers and parents on BabyCenter to keep our upcoming move organized and efficient while traveling with an infant. If you’ve successfully moved with a young baby or have practical suggestions for simplifying packing, transitions, or temporary housing, please share your best advice and real-world tips.