selling a townhouse to purchase a foreclosure....

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Should we sell our beautiful and well maintained Townhouse to purchase a foreclosed home that will be $12k more than what we sell our house for plus $25-$35k needed in renovations to get the house in living conditions? Pro's: The schools area is much better, the location is amazing, we actually know the people that the house foreclosed on so we know how that house was maintained for the most part, own yard and fence and no worry of guest passes/guest number. Con's: Foreclosure, the amount needed to renovate, the amount more than what we get out of our house we already own too many cars in the street (parked so view for kids to play is limited to just the yard). Thoughts?