Should I Buy a Foreclosure?

It depends on what your goals are. But remember, just because a home is a foreclosure, doesn’t mean it is a good deal. A foreclosure is nothing more than a repossessed house whose value can be excellent, mediocre, or poor. With any home, foreclosure or otherwise, making an intelligent decision comes from making a purchase that is the best value from a group of options. Buying a home that requires $30,000 worth of repairs in order to increase the value by $30,000 is not a great idea. Make sure that if you want to buy a foreclosure, you reap the benefit of the work you do.