A flatshare/houseshare is either a flat/house where you can rent a room either by yourself, with your lovely girl/boyfriend/friends and you will share the bathroom and kitchen with other people who also live in the same flat. You can rent a flatshare together with people you already know, or you can decide to take a big chance and move in to a flatshare with people you do not already know. If you do not know the people before you move in, it will give you a great opportunity and massive life experience to get to know new people and make contacts through your roommates, who could turn out to be friends for life, just by being easy roommates for a couple years.
This practice of living with flat mate/easy roommates is basically a close replica of household. The only difference in a household is that related people stay together whereas, in a shared flat unrelated ones stay together. It might so happen that the people who you are sharing the flat with or roommates, you already know them. This makes the sharing comfortable and easy. If they are completely unknown and are from different places or culture then this involvement might prove to be a rich experience for you. You will get to learn to cope with their diverse preferences and mentality. You also get an idea about the different cultures and rituals. This custom is more prevalent in most developed and developing countries due to the various economic and social conditions.
The most advantageous factor in flat sharing is its cost effectiveness. You can save money and get to stay in a home like environment. In duration of time you tend to get responsible, knowledgeable and more cultural. Though almost everyone is fit to live in a shared apartment however, bachelors, students and professionals are mostly found to be availing this option.
Especially when students or professionals have to relocate because of their studies or job purpose, then flat sharing proves to be economical for them. The significant reason for the young people to be comfortable with staying in share accommodation is they are more flexible and can adapt in any new circumstances. In a shared living you will need to share responsibilities like dishwashing, cleaning, etc.
There are some drawbacks of having an easy roommate. To begin with you are not going to have that privacy or solitude which would have been there if you would have stayed unaccompanied. If you and your companion do not get along while staying together then things would get very uncomfortable. In shared living you would need share certain important amenities on a regular basis. You will share things like kitchen, bathroom, living room, television, fridge, etc. and hence there should be an adjustment on everyone's likes and dislikes so that no one is annoyed because of the other.