Wow, there is so much good advice here, and as you can see, there is no easy or right answer. I recently went through this with our family and VERY long story short, we kept it in the family. I have 2 siblings: one had no interest, and one loves the cottage as much as I do, but could not afford it. So when my parents passed, my husband and I bought out my siblings with the intention of keeping it as a family home. (Also, I had been planning financially for this for many years). We pay for everything, my sister and her husband pitch in with "sweat equity" as much as they can (which we appreciate). We all enjoy being there together, and has really worked out well. I will just say this: not all decisions are financial decisions. But also, do not underestimate how much deferred maintenance on an older place will cost. It never ends! But it was inconceivable for me to give up our place, and I knew that once it was gone, there would never be a way to come close to replacing it. Best of luck to you with this tough decision.
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