Gone are the days of buying a property all on your lonesome. These days, folks like Brooke Peterson and Tai O'Connor are getting together with family and friends to invest in a home. Of course, co-owning a block of land (as Brooke and Tai do) is no walk in the park. We paid a visit to the couple's off-the-grid cabin for SPACES Volume Five to nab some of their top tips.
1. Buying land communally is never simple, so be prepared for many meetings to work things out.
2. When decisions are being made, make sure everyone is heard, validated and happy with the result.
3. Have a shared vision, or at least agree on a future where visions can coexist and not conflict. For us, it was making sure no-one saw the place as a financial investment, and no-one wanted to do anything destructive to the environment.
4. Have autonomous spaces – for example, here everyone has a designated five acres that they can build on or do whatever they want. The property is 230 acres, so nobody is going to be cramping anyone else’s style.
5. Have an exit strategy: decide what happens if someone wants to pull out, and have this drawn up as a legal document.
6. It’s important to decide how costs and labour involved with maintenance will be shared.
Snaps by Natalie McComas.