Is your girlfriend cool with this? Your own parents?
Raising children are expensive. That $200,000 house may seem like a lot now, but when it comes to raising that child, money will disappear a lot faster than you planned. If you DO raise the child, be aware that you may have to provide transportation for him/her, possibly buy the kid a car, pay for the insurance, MEDICAL costs, buy clothes, provide modes of entertainment for the child, etc. etc. Inflation tends to make things more expensive, so be aware that that $200,000 house and whatever else they plan to offer you may not be as much in the future. (Fortunately, the house may very well appreciate in value over time, but is the house valued at reasonable levels or bubble levels?) And the crazy thing is, you won't have that $200,000 in CASH, so you will have to pay all of that out of your own income, unless you sell the house. Also, if that's the major incentive, could you see yourself living in the house? Is that where you'd be comfortable settling down? Financially, there are A LOT of hidden costs. I'm not telling you to look at this as a business deal and focus on the profit-making possibilities, but I'm seeing if you're aware of the financial implifications of this situation. Not having the situation under wraps will not only make YOUR life worse, but the child's as well.
Emotionally, there will be some potential problems as well. How does the child act now? A problem child? A laid-back kid that gets outstanding grades? See how your girlfriend reacts to the question. Will she be cool with taking in someone who isn't her own chlid? Are you ready to sacrifice your freedom and 'fuck around' time if the child comes into your possession early on? That means less game-playing time, less wild adventures with your girlfriend, no more late nights out with your friends. Basically, you'll have to be a 'grown-up' and we all know how fun that can be. You'll have to hold down a job with steady income and a lot of that money will be going into that child's expenses. That means you'll have to wait out on that big
Don't just do this because it's the 'good thing to do.' There's a lot of serious shit you're getting yourself into if you take on this proposition. Think over every angle you can before even THINKING of saying yes, and then repeat the process about 10 more times. This isn't like simply choosing between an X-Box and a Gamecube, which I'm very sure you're aware of. Saying yes will TOTALLY alter your lifestyle, and I'm just making sure you're taking into account all of the consequences of that action.