Hm... might work ok if the hacking on projects together aspect of it was relatively low-pressure/low-commitment stuff, pitch in if you have time and find it interesting but don't guarantee anything.

But otherwise mixing two big-ish commitments (living together stuff, work stuff) could lead to some unpleasant friction if things don't go well.

Sometimes you do want a bit of separation between 'work time' and 'home time', not to have to feel accountable to work people about the way you spend your home time and vice versa.

I did live with the freelance designer from my work for a bit though. It worked ok because work is in the office, so pretty clear separation of work time and home time. But not really the same situation as you describe.