Several years ago, we bought a rototiller with a few friends of ours. Some would rent one before that or share the rental price and both use it. We found out that buying one between us (four families) would save us all money in the long run, and we could have it available when we want it and not be restricted to just one day or a few hours. This has worked out really well for everyone.
A few years ago, a friend told me how her daughters would pass around all their baby clothes, etc. between them and they saved lots of money for all because each person didn't have to go out and buy the same stuff themselves. Some of our kids seem interested in doing the same thing, when they get to that point. It would be easier for grandparents to know that when they buy something, it may be enjoyed by several kids instead of just one.