What Is Co-Living And Why It Is Popular?

what is coliving and why is it popular

Co-living has been around for a while, but new companies are making it easier than ever to find a great home with roommates that work. So the question becomes – would you ever try co-living?

Co-living is becoming a hot trend among millennials and younger generations who flock to high-priced, high-density areas in search of affordable rent. This form of housing is quite a new concept that did not come about until the middle of the 2000s. However, as the costs of living continue to climb, it has become a completely valid and economical lifestyle. Read on to learn what exactly co-living means and why you should try it out in 2020.

So, what exactly does co-living mean?

People unfamiliar with the term often ask, “What is co-living?” Well, in a nutshell, co-living is a nice way of saying you live in a house or apartment with several roommates who split the bills and share space. While this might sound unappealing at first, keep in mind that this modern style of living is very different from a traditional dorm hall or student housing complex.

Usually, companies who create co-living spaces do so in an updated apartment complex or large, family home. Depending on the layout of the building, residents will always have their own bedrooms and usually have their own bathrooms. All common areas such as the kitchen, living room, workspaces, and outdoor spaces are shared among residents. So, if you live in a big house with five other people, chances are you will run into your roommates while cooking a meal in the kitchen or winding down on the patio.

What has made it so popular?

The main reason why co-living has become so popular in recent years (approx. 2015-2020) is because of high living costs. Rent in locations such as New York City and California are known for their hefty, sometimes outlandish prices, with little option to go a different route.

Co-living, on the other hand, gives young professionals- and even budding entrepreneurs- a beautiful place to live that is both affordable and community-focused. Living with other people provides an easy way to socialize, meet new people, and network because roommates get matched according to their interests and living preferences. If this sounds like something you would enjoy, definitely try it out.

Additionally, people enjoy co-living because they do not have to worry about buying furniture, setting up utilities + WiFi, getting renter’s insurance, or cementing themselves into long-term leases.

Each home or apartment usually comes fully furnished and ready to go. Renters only have to worry about paying a flat-rate fee, and “community managers” take care of the rest. This is a fantastic alternative that traditional real estate companies do not provide. Co-living is simple, affordable, flexible, and community-minded.

Where can I find a co-living space?

Currently, co-living spaces are offered in larger cities all across the globe. Some companies are large and have only a few expansive locations that include access to pools or gyms. Other companies are small but are steadily growing in size.

As far as the USA goes, you can find plenty of options in most major cities. One city on the rise in the southeast is Raleigh-Durham, North Carolina. Alcove diligently serves the area and includes every modern feature residents will need in each co-living space. So far, mostly family homes and attached townhomes are available for renting in Raleigh-Durham, but that will change as co-living picks up in the region.

For young professionals thinking of moving North or West, consider looking into companies like WeLive, Haven, or Zeus Living. Haven is a purpose driven wellness co-living community, whereas Zeus is mainly for extended business travel. Each company offers certain perks over others, with different communities and kinds of people gravitating towards the community that they like best. Feel free to do some research into which co-living company you could see yourself moving in with!

No matter the area you choose to call your temporary home, each co-living space will feel different and offer a new experience and a whirlwind of opportunity.

Thanks for your support!

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