People sometimes tell me that, while they have children who are interested in the piano, they don't have room for a real one. Therefore they buy a keyboard.
But why does that real piano have to fit into the living room? Why can't it be an upright that goes into the child's bedroom? If it is to be shared by more than one child why can't it go into a foyer, or a rec room?
The beauty of a guitar is that it can be taken into one's own room for one's own private exploration and pleasure. There is some assumption about the piano being public that is not essential to the instrument's definition.
My family was fortunate to have two pianos: a grand, on which I practiced (though never for hours on end), located in the living room; an upright in my daughter's room, hers to fool around on howsoever she desired. Fortunately sharing was not an issue as my son, having the ear of a horn player, was drawn to the piano only for occasional musings.
It is possible to deal with the sharing problem so that no one feels left out. Egg-timers and alarm clocks come in handy. The ability to close doors is crucial here: "I don't want anyone to listen while I play" is an valid a personal statement as "I don't want to listen to you play."
I installed outdoor weather stripping on all the interior doors of my apartment to provide maximum soundproofing. It works.