From single-family homes to yurts, your housing options are as varied as the people that live in them.
Buying a home, or even renting one can be a big commitment and that’s why Co-living is now hugely popular offering the occupier private rooms and shared communal spaces.
Co Living Has Global Reach
In the UK, co living is also know as micro flats, and they offer the same set up of private ensuite rooms and tenants using the shared communal rooms for cooking, dining, laundry, bike repair, as well as the fun stuff like gym, swimming pool and gardens.
Since it first came online a few years ago, this living arrangement has been hugely popular with millennials, globally, and particularly in the USA.
These young professionals are said to have been ‘locked out of the property market, and can not afford to purchase an apartment or a home.
Housing affordability is at an all time low in many key cities, and it’s spreading to the regions too so why not choose to live in a nice environ close to work that offers a better quality of lifestyle?
Pretty much wherever you are go in developed world, there are co-living houses and buildings available. Websites and social pages like Common and Common’s twitter, do the hard yards in connecting couples and singles, to available real estate.
There’s plenty of upside to this relatively new, living arrangement. It’s offered a very attractive alternative to the shared flat arrangement of your student days or staying at home with your folks, in your early adult years, wondering if you’ll ever get the chance to move away.
Arguably it could also be said that co living or micro flats have attributed to a change in direction for younger generations. Owning a home is not what everyone desires nowadays, in much the same way, as getting married and having children is not on everyone’s must do or bucket list!
Plus co-living is also not just for renters. Investors have also realised the opportunity by investing in co living development. Buying large properties or buildings in sought after locations and converting them into co living spaces. So the million dollar question is, is it a fad or is it here to stay….
Is Co Living The Future of Housing?
There’s no doubting it’s popularity and it does solve many of the challenges faced by people not yet in their own home.
One example is the set up costs of renting an apartment or house. For many renters securing their own abode is cost prohibitive, and then there’s the ongoing costs of services to the property and maintenance too. Ask anyone what they’d prefer to spend their money on and you’re more likely to learn it’s on what they enjoy doing when they’re not working and rightly so.
The footprint of co living buildings is a lot less than traditional standalone homes. More people can be accommodated in these spaces, as the buildings typically rise upwards rather than out horizontally. Therefore it’s truly a better use of land to accomodate our every increasing urban population.
Also the rise of single person households is changing society. Single people prefer to rent not buy property.
Plus rates of loneliness among us are rising too. With social media taking a lot of the blame for it, social isolation and lack of companionship is a mental health issue, doctors globally are finding it challenging. Therefore co living is going someway to addressing this twenty first century phenomenon.
Humans do need each other it’s required for our physiological survival. 🙂
Therefore there’s an argument for co living as one answer to dealing with in the increase in aloneness, particularly among younger generations, who spend a lot of time online in their own company. Co-living offer to much to be a fad – it’s here to stay.