The Search: Divorced dad puts son first

Cavanaugh knew it was a tough market to break into, so he was prepared to buy an older home that needed renovations.

“The houses are higher in demand, there’s fewer of them, and it’s older neighborhoods, from the price point of a single-income parent,” he said.

His west Cobb County home went under contract in May, with the buyers wanting to close in early June, making timing crucial.

“I had less than 30 days to find a place to live,” he said.

No. 1: Spacious foreclosure

The five-bedroom, four-bath foreclosure on Gant Quarters Drive in Marietta featured a vaulted ceiling, fireplace and built-ins in the family room. The two-story traditional home, built in 1973 and originally listed at $238,900, had a basement with a bathroom, wet bar and fireplace. When he walked in, he saw water in the basement. “That was a huge, big red flag,” he said. It did, however, have the biggest yard and the most square feet of the homes he considered. The neighborhood, Gant Quarters, also had a pool and the opportunity for his son to be part of a swim team.

No. 2 :Charming exterior

The four-bedroom, three-bath foreclosure on Lakeshore Drive in Marietta had a Cape Cod style and a white picket fence. The two-story home also had a basement and a fenced backyard. It had been vacant for a while, though. The carpet smelled like a wet dog, and that was just one of the items that would need to be replaced, Cavanaugh said. The home, built in 1973 and originally listed for $229,900, was in the King’s Cove neighborhood.

No. 3: ’70s ranch

The four-bedroom, three-bath ranch home on King’s Court in Marietta had a basement and what Cavanaugh described as a “Brady Bunch” retro feel, which he liked. The full basement had a fireplace and wet bar. Exterior features included a large deck, and it also was on a cul-de-sac in the King’s Cove neighborhood. He would have had to make some renovations, particularly in the kitchen. “It needed a good bit of TLC,” he said. The home, built in 1975, was listed for $211,000.

The Choice: No. 1

Cavanaugh put offers on all three homes, with varying levels of response from the sellers or banks. The sellers of the King’s Court home had already accepted a contingency offer from buyers trying to sell their home. The Lakeshore Drive foreclosure received multiple offers, and Cavanaugh was outbid. The Gant Quarters Drive home had the basement water damage, but “that didn’t scare me off because there’s no project that I’m not concerned about tackling,” Cavanaugh said. He also was able to negotiate down the price, enabling him to pay for repairs and renovations. He moved in during June, and he’s now just six miles from his job. The home is in the Eastvalley Elementary, East Cobb Middle and Wheeler High district. “It’s kind of a double blessing. (My commute) saved on my mental sanity every morning and afternoon. My son’s education is taken care of,” he said.