I listened to an interesting interview with 6 ladies who share a home here in WA.

They are all mates and they searched for quite some time until they found a property suitable.

I think each person has their own bedroom/ensuite, large communal area and the one kitchen.

While it appears to be working "for now" and they all seemed very happy and content;  I wonder what happens as they start to fall off the perch?

What will be the financial arrangements then etc etc.

Wills, those who inherit...could be quite a nightmare further down the road.  Will the house have to be sold to pay out the share of the deceased person.??

I would be seeking legal advice before I entered into such an arrangment myself.

Definately not.   I love my friends but wouldn't live with any of them. Go on a holiday with them yes, but there are times I also like my privacy.

I am with you on this Sandi.  I would not like to share with other ladies;  now 6 men..perhaps a different story  LOL....nah that could be a nightmare....end up being chief cook, bottle washer and laundry lady.

Think I would sooner live on my own.

I like my privacy too. But the stress of enforced insecure private rental on seniors is not good. I was in that situation, and one flat got sold after 8 years, and then at one place had the landlord from hell. Luckily then I got decent public housing, but a lot of public housing is in places I wouldn‘t want to live, very dangerous. Getting together with friends if they all get on seems a good solution. Of course a legal agreement to cover all eventualities would have to be drawn up.

When we were young my hubby and I and a bunch of very close friends used to talk about buying a big house together when we were old and creating our own little retirement home. We thought we could throw in together to pay for cleaning, ground maintenance etc if it all got beyond us and we could care for each other with whatever health problems occurred. Sort of like an old age commune. We all lived together when young and know we are compatible and have the same interests and values. However over the years we have all become very settled in our separate situations so the dream has faded somewhat, but not disappeared altogether. We still feel young enough to be doing our own thing but no-one has completely given up on the idea so we may yet do it. We thought we would buy as tenants in common and while our children could inherit they would not be able to sell the home until the last of us dies but they would be able to stay there (like a holiday home) or even live there if they wanted. We all have exceptionally close relationships with each other's children and very much like all their partners so visits and stays by any of them would be a joy. And all the grandkids would be shared too. It would be like a big extended family and loneliness which so often besets the old would not occur.

I also think it's a good idea for older people to rent together if they don't own their own homes. We did it when we were young because few of us could afford to rent a home by ourselves, so why not do the same when older? One can live with others and still have privacy when they need it. The tricky bit is finding others who are compatible but that is not impossible.

I wouldn't like to but maybe if I had to I MIGHT ??????????????????

I love my friends and Family but I also like my own company

I dont thnk it would suit me but can understand others might like the idea

Maybe purchasng a large block and putting up say 6 duplexes with their own  strata titles would be the way to go.

Well, I‘m too set in my ways nowadays but it could work for some people. I think house prices and rents are so high that seniors will be thinking of alternatives.

By contrast, once away from London there are still plenty of areas in the UK that are cheap to buy or rent and plenty of them. The advantage of the UK is it‘s a small country in size to Australians, it‘s an hour or two by train, coach or car between major cities and the National Health is like our health system. 

Australians can still take their age pensions overseas but the Abbott government wants to stop this. At the moment you can still retire in a cheap country.

I don‘t think I could adjust back to life in the UK due to my health. But if I was healthy I would go over, get into temping again but away from London which is dear and aim to buy a little flat for about $100,000 Australian. Say a studio flat. 

Not because I want to leave Oz but property and rent are incredible prices nowadays.

I guess if each had their own (even if small) own kitchen - kitchen being the most imperative room, and bathroom along with a nice big bedroom it would be possible. In reflection lol maybe not for us. 

I think the idea has merit but I wouldn't touch it, best friends can fall out and often do but on the other hand, if I were an older person renting and desperate to get into the property market, common sense could fly out the window.

In theory sounds a good idea, not for me though. However if anyone is thinking of doing that have a pow wow with each other, lay it on the table what each wants, have a legal document drawn up and rest easy. Don't do that, and best friends can become best enemies!

To purchase a home with others would not be disimilar to to enter a multiple marriage... but most probably with less legal protection.