BENEFITS OF COLIVING

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BENEFITS OF COLIVING

Housing costs are rising day by day, and our lives are becoming increasingly interconnected. There’s this modern housing concept that’s shaking things up – Co-Living. It’s not just about splitting the rent; it’s a lifestyle that offers a bunch of cool perks. Let’s look into the world of coliving and see how shared living spaces redefine the way we live and connect in this modern world. Here is the Complete guide about benefits of coliving.

WHAT IS COLIVING?

Before we get into the advantages of coliving, let’s break down the basics. Coliving is a hip housing arrangement. In this system, people, often strangers at first, share a living space, resources and even experiences! It is a blend of communal living, sleek design, and affordability. One of the main misconceptions about coliving is that its just bunking together. But it’s not just that.  It’s about coexisting in an environment that sparks social interaction, convenience, and well-being.

Over the last few years, coliving has really picked up. This has happened due to rising rents, housing unaffordability, loneliness, increased urbanization and remote working.

BENEFITS OF COLIVING

ADVANTAGES OF COLIVING

There are several pros to coliving. Several benefits can be gained from coliving, including convenience, affordability, belonging, promoting sustainable lifestyles, and even personal development (who knew!).

*Coliving is affordable

Here’s the first nugget of wisdom – coliving can save you some serious cash. By sharing rent and utility costs, you can enjoy a more budget-friendly lifestyle compared to traditional renting or buying a home. In other words, you don’t just pay for a bed and four walls. It includes many of the services that you would otherwise pay extra for, such as cleaning and utilities. This is extremely helpful, especially in pricey urban areas.

According to a research conducted in the US market, coliving can reduce gross housing costs by an average of 30% compared to traditional housing options in the same area. Similar results have been seen in European cities . That’s not a  small change! It means more money in your pocket to spend on things you love.

Coliving comes with built in community

Now, let’s talk about the amazing sense of community that coliving brings. 

Jaimee William’s of SPACE10, IKEA’s research and design lab, says “Co-living is an opportunity to live in your own private place but still be part of a ‘family’”. In regular apartments you don’t often get to interact with your neighbors. In coliving, spaces are designed to promote social interactions. Common areas, shared kitchens, and hangout spots can serve as natural spaces for residents to connect, make friends, and support each other. It’s like having your own built-in social network.

Coliving can provide companionship for those who don’t want to live alone. This is extremely helpful as cases of depression and anxiety are rising post pandemic.Research published in the journal BMC said co-living can improve mental well-being. Even the WORLD ECONOMIC FORUM agrees. (link) 

Coliving offers flexibility

Here’s where coliving gets even cooler. Many coliving setups offer short-term leases. The minimum term of a traditional rent contract, for instance, is usually 12 months. In coliving, homeowners and property managers typically allow people to rent on a month-to-month basis.That means it’s perfect for digital nomads, students, or anyone who likes to keep their options open. This means you have no long-term commitments. You can adapt to life’s changes without breaking a sweat. Read more about the differences in traditional vs coliving renting

Coliving is Sustainable

Coliving can reduce negative environmental impact. Coliving communities only emit a third of the carbon dioxide emissions produced by an average UK household.  Coliving also significantly reduces a person’s environmental footprint by an average of 23%.

Coliving promotes mental health and well-being

Coliving is more than just a roof over your head; Coliving lifestyle benefits your journey of personal growth and well-being. Shared living isn’t just about saving on rent; it’s also about personal development. You can boost  emotional intelligence by navigating different  personalities and moods. You also learn skills like nonviolent communication and radical candor, becoming a specialist in conflict resolution. So, the next time you find yourself in a heated discussion about whose turn it is to take out the trash, remember, it’s not just about the trash. It’s about honing your emotional intelligence and mastering the art of conflict resolution.

COMMON FAQS

Q: *Is Coliving for Everyone?*

Well, not exactly, but it’s very versatile. Young professionals, digital nomads with a wanderlust spirit, students craving a supportive atmosphere – everyone can benefit from coliving’s awesomeness.

Q: *Are There Downsides?*

No rose is without its thorns, right? Privacy can be a concern when you’re sharing living spaces, and you’ve got to click with your roomies. But don’t worry, many coliving operators do their homework to match you with compatible mates so that you won’t face any issues.

Q: *What’s in the Package?*

Coliving comes with so many benefits. You’ll find fully equipped kitchens, coworking spaces with lightning-fast Wi-Fi, fitness centers, laundry setups, and communal dining areas. Plus, most of them host fun events and workshops to make your stay even better.

Q: *How Do I Find the Right One?*

Picking the perfect coliving space is key to an amazing experience. Start by scouting coliving operators in your chosen location. Look  into reviews, check out their websites, and compare what they offer. Chat with current or past residents to get more information. Make sure the place vibes with your lifestyle.

Q: *Is It Really Cost-Effective?*

Absolutely! Coliving can seriously cut your monthly expenses compared to traditional renting. This makes it a solid choice, especially in cities where rent can break your wallet.

Q: *Can Coliving Boost Well-being?*

Yes!! The sense of community and the focus on well-being in coliving spaces can give you a serious mental boost. It’s easier to keep a work-life balance, make lasting friendships, and thrive in a supportive environment.

Q: *What’s New in Coliving?*

The coliving world is constantly evolving. From niche coliving communities tailored to specific interests to the integration of smart tech for more convenience, coliving keeps up with the times.

Smarter Property Management

Find the best Rental Property Management Software in Canada. Transform your Rental property into a cash-generating asset with our user-friendly property management software solution.

CONCLUSION

Coliving isn’t just about where you stay; it’s about how you live. It offers affordability, community, flexibility, and well-being all in one package. So, if you’re thinking of your next housing move, consider coliving – a place where living isn’t just shared; it’s an adventure that enriches your life.

If you’re curious about coliving, start exploring the options in your area. Visit coliving spaces, chat with current residents, and move into a vibrant community that also happens to be budget-friendly. Don’t forget to share this article with your friends who might be looking for a more fulfilling way to live.

Smarter Property Management

Find the best Rental Property Management Software in Canada. Transform your Rental property into a cash-generating asset with our user-friendly property management software solution.

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