Do you share a home/land with another family?

[MamasBoys]

Please move this post if there's a better place for it...

I'm cooking up an idea in my head about sharing a home or a big piece of land with another family. In our area, it is very difficult to buy a home due to outrageous costs. I've been talking to an acquaintance of mine about the possibility of joint-buying a big house and splitting it up (much like a duplex) or even buying a piece of land and putting 2 manufactured homes on it.

Has anyone done this? What would be the pros/cons? I imagine that there would have to be some sort of formal agreement and a lot of trust. (No one would want to be stuck if the other family moved out, etc.)

[polyhymnia]

Originally Posted by MamasBoys

Please move this post if there's a better place for it...

I'm cooking up an idea in my head about sharing a home or a big piece of land with another family. In our area, it is very difficult to buy a home due to outrageous costs. I've been talking to an acquaintance of mine about the possibility of joint-buying a big house and splitting it up (much like a duplex) or even buying a piece of land and putting 2 manufactured homes on it.

Has anyone done this? What would be the pros/cons? I imagine that there would have to be some sort of formal agreement and a lot of trust. (No one would want to be stuck if the other family moved out, etc.)

This is becoming more common in the UK because of high property prices, it is often friends going in together to buy a house and having a house-share situation rather than two entirely separate spaces. You may have a look about on UK house-buying forums/websites for some advice?