Shawn Hirn wrote:

More than likely, we'll get a duplex. If my folks move out (to a nursing
home, for example), or I get a job outside this area (very unlikely),
then the vacant half can be rented out. Either way, we will not take on
a mortgage that neither of us can handle if the other isn't available.

If you are going to get a duplex, then you should buy one unit and your
parents the other unit, providing that you are talking about a true
duplex that is legally considered two single-family homes and not one
building set up with flats that is considered a two-family occupancy
building.

--
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