Splitting Ownership

[shultice24]

Has anyone had any experience doing anything of the like?

Say you and three of your neighbors split the cost of a new mower 4 ways. You basically get full use out of it but pay 1/4 the cost.

Or you get together with 15-20 people to buy raw materials (say flour or something) in bulk and save big that way.

I think it's a really neat concept. Promotes local communities/cooperation, more environmentally friendly, and saves money too. Biggest problem is probably selling the idea- we're pretty attached to 100% ownership it seems.

[disneysteve]

I think your 2 examples are very different. Buying something like flour in bulk would be pretty easy. One person picks it up. You divide it up into agreed upon portions. Everybody picks up and pays for their share and you're done.

The mower is different because there are storage and maintenance concerns. Who gets to keep it? How do you arrange when each person gets to use it? Who is responsible for maintenance, oil, repairs, etc? What about gas? Not saying it can't be done, but it is a lot more involved than buying something in bulk.

[boosami]

Originally Posted by shultice24

Say you and three of your neighbors split the cost of a new mower 4 ways. You basically get full use out of it but pay 1/4 the cost.

You don't really get full use. If there's one nice afternoon this week to cut your grass you have to fight all 3 other neighbors for use of the mower. Pretty much if you buy 1/4 you should expect to get 1/4 the use.

You'd be better off buying the mower yourself, then "renting" it to your three neighbors like a rental car. You would eventually offset the cost of owning the mower, and be able to use it yourself when you wanted, since you get to make up the schedule. Plus you own it after and have full rights to do whatever you want with it if you move away or something.

[graceful]

If you mow their lawn too, maybe you can make a little $ on the side.

DH's uncle mows his elderly neighbor's lawn for free whenever he mows his own. They are small lots. It makes both houses look much better, builds up good will, and it does not cause him too much extra work or effort.

[shultice24]

Originally Posted by disneysteve

I think your 2 examples are very different. Buying something like flour in bulk would be pretty easy. One person picks it up. You divide it up into agreed upon portions. Everybody picks up and pays for their share and you're done.

The mower is different because there are storage and maintenance concerns. Who gets to keep it? How do you arrange when each person gets to use it? Who is responsible for maintenance, oil, repairs, etc? What about gas? Not saying it can't be done, but it is a lot more involved than buying something in bulk.

Valid points for sure. It (the mower example) would definitely require a good degree of mutual trust and upfront work to get everything set up, but if the parties involved sat down and took all these things into account (even the possibility of someone moving away), it could probably work out.

As boosami pointed out, true you don't really get unlimited full use, but people could sign a schedule for when they would like to have the mower. If each of the 4 yards took on average 1 hour apiece, the 4 part-owners should easily be able to find the time to do it. It would be way more cost-efficient and environmentally friendly.

My bad on the two completely different examples. I know it would certainly not be easy, nor as convenient as complete private ownership, but I think the concept has merit.