As far as I can see this would be an independent save. Closer to having two neighbourhoods.
Say you are playing with 2 save slots, concentrating on Family A in one, and Family B i the other. If you play as Family A for 5 days of their lives, Family B will age (and develop) simultaneously by 5 days' worth in that version.
When you then load in slot 2, Family B will be as you left them when you last saved in slot 2, but so will Family A, not exhibiting any of the changes you manipulated with them in the run up to saving last in Slot 1.
So the house that Family A (in save slot 1) build up to a fantastic mansion, would still appear as a dowdy house in Family B's version.
I think!
So it would work, sort-of, but only if you were happy to have the two houses independent of each other.
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