Re: Buying my parents home
Are you an only child? If no, what do the rest of the family think? If yes, do you intend that you will all live together? Or are they moving out? If no, what happens if there is a falling out? Or you want to get married and your spouse does not want to live there? What happens if you need your money back at any time - can you sell the house at any time?
There are obvious merits in acquiring a property at half the market value but the other side of that is possibly acquiring sitting tenants!
One to take careful advices on.
mf