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Family Comes Together Over Picturesque Property

May 2, 2014
Home in England

The Elliotts and the Bakers found a way to own their perfect home.

When it comes to finding the perfect home, where there’s a will, there’s a way.  A prime example is the unique living situation of the United Kingdom’s Baker and Elliot families.  The Wall Street Journal’s real estate blog has the full story.

About 6 years ago, the Baker family found a sprawling mansion in southwestern England that knew they had to have.  The problem?  A 3.3 million dollar price tag.  In order to defray the costs, they pitched and interesting, outside of the box idea to their family friends, the Elliotts.  What if the two families, who both have children, purchased the house together and lived together?  It took the Elliotts some time to warm up to the idea, but the lure of the beautiful property eventually won them over.

The pair of families bought the house and eventually worked out a system where they both take advantage of communal living while maintaining their own privacy.  They eat once a week together, the children play together, and they all share the massive responsibility of upkeep for the property.

While the two families initially undertook the endeavor out of a love for the home, it turned out to be a wise investment.  The massive manor has nine rental apartments that both families rent out and share the profit from.  Apparently they were not the only ones smitten with the property either.  The Elliotts and the Bakers now frequently host weddings on the sprawling estate, from which they also share the profits.

The Wall Street Journal uses the piece as a jumping off point to discuss the small uptick in communal housing in the UK.  Experts in the field have long warned about the declining amount of affordable housing in England and an increase in communal living seems to be the response.

While not everyone can afford to split the cost of a 3.3 million dollar home, perhaps families in similar situations can use their creative solution to finding the perfect home as inspiration.

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