I went with my dad to see condos that were for sale. $300,000 for a modest one-bedroom condo right near Walnut Creek downtown. Yes, we were there for the BBQ (partially — I mean where else did I acquire my free food sniffing habits), but really my dad was considering downsizing from the house.
But the choice of living in a house vs. an apartment inside a community. Is it worth it? Is it desirable?
If the kids have grown up and moved out, why have 2 or 3 extra bedrooms? I suppose it depends on if the mortgage is paid off already. If your parents were the entrepreneural type, they could find renters and make some extra money, but at their age, they may have other priorities (like enjoying their golden years when the damn kids are FINALLY out of the house… and sell it before they move back!!) I\’d go for a 2-bedroom at least, though. 1-bedrooms tend to be hard to sell if they ever need to sell, and they don\’t tend to appreciate in value as much as properties with more than 1 bedroom. But hey, if they love it and they want to get cozy… by the way, check out my friendster profile for a similar picture to the one you posted recently where I am posing with the fruit.