buying forclosed home...need advice

[Yetti]

Hi guys I live in Michigan under the Dictatorship of the "Jenny". she has crushed our economy to the point it looks like rats leaving a sinking ship. I have the opportunity to double the size of my house buying a forclosed home. one of the ones I'm looking at needs $40,000 in finish work and details. its on 10.7 acres and is in Saline schools which aren't bad. my problem is I would have to sell my place to buy the new one. I am very warey of the market around here even though a neighbor sold out in 3 days.
one of the other things I have to ask is how effiecent are radiant floor heat systems? this thing must have $50,000 in heating and cooling in it and its just daughting to look at as compaired to my current home. its about 2400 square main floor and its a full walkout with poured under floor heat in both the basement and 3 car garage with 12 foot ceiling , plus it has a 32 x 48 garage out back. all for $294,900.00. mine is worth about $275,000 on 8 acres 15 miles away in Chelsea.
tell me what you guys think