Co-living has been getting an overwhelming response in recent times as a popular alternative to traditional housing options. Today, when renters are looking to save money and build community, co-living is becoming popular among students and millennials.
Co-living not only saves time and energy usually spent on choosing a location, but it also offers a new solution for affordable housing. It’s a new concept where one lives in a dorm-like setting under the same roof. It helps young people or singles keen to live in a more social atmosphere.
Many cities have initiated this co-living accommodation option to cater to the needs of young professionals. So, to embrace and reap these benefits of co-living, let’s understand why it is trending in 2021:
1. It’s affordable
Co-living space is the best practical and affordable housing in between the sky-high rents of big cities. Co-living makes it possible to pare down your spending. It is practically impossible to afford to live alone, and the additional cost of the bond can hit your bank account. On the other hand, co-living space providers charge reasonable prices and are often fully furnished.
2. It’s practical and comfortable
Co-living offers convenient and flexible housing solutions. With an amazing bunch of amenities and plenty of luxurious revamps, you get some outstanding utilities. You get to use the best of both worlds as you don’t have the headache of managing the home administration as it comes with well-equipped furniture at your disposal. Also, you don’t have to worry about setting up utilities like monthly bills and hiring a cleaner. If your housemate moves, you don’t have to worry about finding the replacement and compromise your living condition. Co-living extends a comfortable and carefree living with a sustainable, minimalist lifestyle.
3. It allows savings
In a co-living space, you won’t have to buy home décor or furnishings and get the freedom from paying huge deposits to a landlord. When living costs are high and new professionals or millennials are struggling with the expenses, co-living gives them the option to save. Co-living offers individual room leases that save you from paying for utilities as they’re included in one monthly payment.
4. It prevents loneliness
Co-living comes with a built-in community that gives an engaging, cosy vibe. Co-living encourages like-minded people to open and mingle. These spaces also offer facilities that help to start a conversation and give a sense of belonging. It gives you the freedom to share meals, host a movie night, or socialise but still get privacy when you want to. It creates an instant community where people can exchange ideas and opinions and feel less lonely. With private bedrooms and shared living spaces, the co-living spaces provide many opportunities for the occupants to socialise and overcome the problem of loneliness.
5. More facilities and more freedom
Co-living is designed for young, working professionals who want more freedom and perhaps to live closer to a city centre while still being affordable. Some spaces offer leadership programs, some offer meal options, while some lend yoga or meditation classes.
Digital nomads or millennials of this generation are gravitating towards co-living as it offers private rooms combined with co-living spaces that feel like home. With so many benefits of co-living, it’s natural that these shared economical spaces will gain more momentum in the coming years. According to research, co-living today is popular not just because it’s an affordable housing model but also eliminates certain issues faced when setting up a house. It also provides great flexibility, so you can move from one place to another without hassle. With co-living, you can have no lease or a minimal-commitment and they help you match with roommates who share your living preferences and interests.