A little background: My parents are retiring in 3-4 years and currently own two properties. They are planning on rebuilding one of their houses, and moving out of the other.
Our (me, my husband, and two kids) 4 year plan is to leave where we are now (renting in another state), and move into my parent's house. They are planning on quitclaiming the house to us, and we will pay for the rebuilding of their other house (we were originally going to just buy the house from them, but thought this might be a better option for everyone). According to my dad (he will be the general contractor), it should cost between 200-250k, and we would pay for it in cash.
So a few questions - 4 years from now is definitely not long term, but I'm not sure if I would consider it short term either. Should we invest that 200k, or should we keep it cash? Also, any advice from anyone who has been through the same process (quitclaim or buying from parents)? Or just generally knowledgeable about the process?