There are pro’s and con’s to every decision, absolutely.
The biggest one with Co-Ownership is you have shared responsibility and liability with another party. Make sure that whoever you choose to purchase with is on the same page as you when it comes to expectations and commitments to the purchase and the property itself. Disagreements can happen between friends or family members, but if they occur in regards to the property or the purchase, make sure expectations are transparent.
All parties have to agree on what happens to the home (like renos or use of the rooms etc.), and all parties need to make sure all financial obligations are clear before any decisions are made.
Make sure you have received advice from your Solicitor before you agree to any commitments!