Real Estate
Buying Haunted Houses: Would You Dare?
Imagine being the real estate agent tasked with selling Lizzie Borden’s old house. If the legend of Lizzie Borden—famous for allegedly taking an axe—makes your skin crawl, trying to sell the home itself might be an even scarier challenge. Haunted houses and homes with dark histories, often called “stigmatized properties,” can be some of the toughest sales to make.
A poll by the Associated Press revealed that 34% of people believe in ghosts, while 14% say they’ve actually seen one. Superstition plays a role in how people feel about haunted properties, too, with about 26% of city dwellers admitting they’re at least a little superstitious, compared to only 13% of those living in rural areas. With those numbers in mind, what would you do if you found your dream home had a spooky history?
This question came up for a couple featured on Apartment Therapy. They were about to purchase a home when they discovered that the previous owner had committed suicide in the house. Faced with the unsettling history, they had to decide whether to proceed with the sale or walk away. The question sparked hundreds of responses from readers—of the 234 comments, nearly 40% suggested either backing out of the deal or trying to “de-ghost” the property before moving in.
Would You Buy a Famous Crime Scene?
Now, consider another scenario—a beautiful townhouse in a prime California neighborhood is listed at a surprisingly low price. It’s spacious, in a fantastic location, and the seller seems eager. However, there’s a catch: this is the former home of Nicole Brown Simpson, one of two victims in the infamous O.J. Simpson case. Even though the home is great, its tragic history has made it tough to sell.
Properties like these tend to attract both hesitant buyers and, at least in the early stages, crowds of curious onlookers. Nicole Brown Simpson’s townhouse was no exception. It took about two and a half years to finally find a buyer, and it sold for $200,000 below its initial asking price, according to AOL Real Estate. In this sought-after neighborhood, typical homes usually sell within three months. The new owner eventually remodeled the exterior, likely in hopes of distancing the property from its dark past.
In another notorious example, the Heaven’s Gate cult property in California—which witnessed 39 members commit suicide in 1997—proved impossible to sell. The stigma was so severe that the street name was even changed to help those in the neighborhood move on. After lingering on the market, the house was eventually sold for less than half of its original value and was ultimately demolished.
How Stigma Affects Property Prices
Homes with disturbing histories are known as “stigmatized properties,” and they often face unique challenges in the real estate market. According to real estate consulting firm Bell Anderson & Saunders, these properties typically sell for 10 to 25 percent less than similar homes in the same area. The reasons for the price drop are clear—many buyers are wary of living in a home with a tragic past, and the potential for unwanted visitors and local gossip can further deter interested parties.
But not every home with a spooky past is doomed to languish unsold. Some buyers see an opportunity, whereas others see a haunting. Take the infamous Lizzie Borden house in Fall River, Massachusetts. The legend surrounding Borden, who was accused and acquitted of brutally murdering her father and stepmother with an axe, has kept people curious for generations. The house, now transformed into a bed and breakfast, plays on its dark history to attract guests. Its motto, “Where everyone is treated like family,” might give potential visitors a chill—but it also fills rooms.
Can a Dark History Be a Selling Point?
In some cases, embracing a home’s eerie history can turn it into a profitable venture. Many people are fascinated by the supernatural, and a house with a known ghost story or a tragic past can become a destination. The Lizzie Borden house is just one example of this trend. People pay to stay overnight, hoping to experience a ghostly encounter or to simply connect with history in a more intimate—and chilling—way. Instead of avoiding the property’s history, the new owners leaned into it, and that bold approach has made it a success.
The Pros and Cons of Buying a Stigmatized Property
For prospective buyers, the question of whether to purchase a stigmatized property is deeply personal. On the plus side, these homes can be great bargains, often selling for significantly less than market value. If history doesn’t bother you, it’s an opportunity to get more houses for your money. And, if you’re creative, you could even find ways to profit from the notoriety, as the owners of the Lizzie Borden house have done.
However, buying such a property comes with risks. Aside from the possible personal discomfort of living in a home with a tragic history, there are also practical concerns. A home that draws unwanted visitors or has an unsettling reputation could make it harder to sell in the future or even impact your daily sense of peace and privacy.
A Buyer’s Market for the Brave
Ultimately, stigmatized properties aren’t for everyone. They attract a unique type of buyer—someone who either isn’t affected by the home’s past or is eager to embrace it. For some, the discount makes it worth it. For others, the chance to own a piece of history, albeit a dark one, is a compelling reason to buy.
Whether a haunted history is a deal-breaker or a selling point is entirely up to each buyer. While some people wouldn’t dare set foot in such a home, others might see it as an opportunity to make a killing in the real estate market—literally or figuratively.
