Reasons Co-Living Is on the Rise

by c21commonweath_ldowling 29. October 2018 12:06

The combination of individuals moving to cities by themselves and the rising prices of single-space living options rationalizes the recent trend of co-living spaces. Residents living in a co-living space still have the option to rent a private room but share common areas such as kitchens, bathrooms, and dining spaces. Especially among millennials, the idea of living with other’s is an attractive option. It’s the opportunity to meet new people, feel included and immersed in a new city while lowering the rent budget that has the new market of co-living spaces booming. Especially in big cities, this trend has skyrocketed in reaction to the outrageous single-bedroom apartment prices. High rent prices, unknown knowledge of the market, and the option to interact with others are all reasons contributing to the appealing option of living in a shared space.

Say Goodbye to Seclusion

People who crave community have the option to feel included in a housing situation that is less lonely than individual housing. Co-living spaces are a great opportunity for young adults who are looking to balance both privacy and interaction. It is the perfect way to still have your own private bedroom but enjoy mingling with housemates during meal time and gatherings. Not knowing anyone in a city can make you feel lonely and unincluded, while a co-living space is a great transition while you get your feet under the ground. Enjoy the perfect combination of privacy and socialization with co-living space that better fits your budget.

Take the Hassle out of Housing

No chores, no buying bulky furniture, no maintenance issues –sounds like a dream come true for most people. Many co-living spaces offer the option to rent bedroom furniture if needed and with the rest of the house fully-furnished, it saves effort and money you’d spend shopping to decorate a whole apartment. Another upside is only having to be responsible for your privately rented bedroom. While you might still have to help with some clean-up, most of the upkeep is taken care of. Most co-living spaces boast a plethora of amenities including free Wi-Fi, housekeeping, parking, linens and towels, and most importantly, coffee. Co-living gives individuals the option to begin balancing and budgeting life on their own while still interacting in an all-inclusive space.

Realistic Prices

Especially in big cities, co-living spaces are in high demand with new facilities being built rapidly. Manhattan, San Francisco, Chicago, and Washington D.C. are all cities where the launch of co-living is in full force. In some of those cities, co-living spaces can average $500-$1,000 cheaper than the rent of a single-bedroom apartment or studio. Especially for young adults just starting out, big cities have better job opportunities, but the price of rent is crushing to people who are just beginning their careers. Co-living spaces offer an opportunity to make dreams of big-city living come true with a price point that is more realistic and affordable for most individuals.

Co-living can be a great option for young adults looking for social opportunities and can also be an ideal way to save money when moving to a city with high rent prices. A place that fosters communication, collaboration and a sense of community is attractive for those who thrive on new experiences and new people. Co-living is a great way to get the best of both a private room and social interaction.