Should I buy my parents house?
They've just informed us (grown siblings and I) of their downsizing. Inner city 1960's 3 bed 1.5 bath bungalow with full basement, an incredible backyard and double detached garage, walking distance from elementary schools, junior highs, and high schools. Lovingly maintained and upgraded, not a large house many any means but not small. I grew up there with two siblings and pets and all manner of friends popping by.
I live in a much newer and highly sought-after neighborhood in a townhouse and on assessment my home value is only slightly less than theirs. They're moving next year into their new condo so I have some time, but my life circumstances have drastically changed recently so I'm considering the move. I'd be much closer to work and the rest of my family. I'm a bit scared of the jump in responsibilities from townhouse to real house. What am I not thinking through?