by Alex Omelchenko, edited by Jeff Campbell
Curious about the co-living concept and whether it’s right for you?
We’ve all seen or heard about those utopian hippie communes of the 70’s.
Everyone living together in peace and harmony, living off the land with little to no waste; everyone contributing equally and benefitting equally.
I think you’ll agree with me though, that for most of us, that’s simply not a realistic way to live.
The co-living concept is the modern version of that. But it has a far more capitalistic model.
Its concept relies heavily on a community mindset among its individuals.
By allocating fully equipped working and eating spaces, co-living spaces allow their residents to channel their energy into their work while the finer details are taken care of. And it’s all under one convenient price tag.
The cost-saving benefits are a major pull for many students, professionals, travelers alike.
But the benefits extend beyond much further than the bottom line. Co-living provides relief to the high cost of housing and overpopulation that many urban centers are experiencing around the world.
In this post, we’re reviewing exactly what is co-living, how the co-living concept works, how much it costs and how it can change your life.
What is Co-living?
Simply put, common living, more often referred to as co-living, is the term used to define a group of people who live together to optimize the use of shared resources.
Neither a traditional hotel nor a hostel, the co-living concept has been made trendy by startups and freelance workaholics. They saw the value in creating collaborative spaces that cut costs by pooling resources.
You’d be forgiven in thinking these so-called “hacker houses” primarily housed IT geeks and millennials, but you’d also be mistaken.
The co-living concept of a built-in network of similar community-minded people has appealed to professionals, singles, and even families of all ages and walks of life.
If saving money isn’t motivation enough, the shared intention of sustainable living and lowering environmental impact is becoming more and more poignant as time goes by.
Co-living splits expenses on shared resources such as amenities, utilities, skills, and even vehicles. All members benefit by not only paying less but through optimizing assets and cutting back on waste.
This is great for the environment, and a solid step towards a more sustainable future for urban dwellers.
Many co-living spaces even include carpools, community gardens, and feeding schemes which enrich the communities in which they are based. This it further cements the community mindset on which co-living model it has its foundation.
“Why are #millennials opting for #coliving spaces?” https://t.co/5iKbMz2oBH by @techgigdotcom Cost factor, Ease of living, Sense of #community, Safety, Lifestyle choices#PropTech #coworking #Socialimpact pic.twitter.com/6GdcTmwsF8
— remy-matisse (@remymatisse) November 13, 2017
What are the Costs Involved?
If it’s all about the bottom line for you, the co-living concept has a lot of obvious advantages over other housing or short-term accommodation alternatives.
The idea is fairly straightforward. The more members there are in the community contributing toward the rent, the utilities, the furniture, the entertainment, the groceries, and the like, the lower the costs become for everyone involved.
Savvy entrepreneurs have seen the benefit in this. They create apartment blocks aimed at providing everything their residents could need in one convenient fee. This allows them the freedom to focus their attention on experiencing their city and enjoying its community to their fullest.
Many singles have surveyed the housing market and understand how expensive (and small) many apartments are. Thus, co-living spaces allow them to enjoy the luxuries that they wouldn’t ordinarily be able to afford on their own.
Is Coliving for Someone Like Me?
Not everybody chooses the co-living concept solely to save money.
The trend is growing because it answers several pain points that modern city dwellers are experiencing.
IKEA partnered up with a NY firm -Anton & Irene- and SPACE10. They surveyed more than 7,000 people from around the world.
The aim was to find out how living arrangements would be in 2030 if it were totally up to the people they surveyed.
A number of key takeaways were revealed in the report. They shine an interesting light on how people envision ideal living spaces in their future;
- The majority felt drawn to the socializing and networking – But not at the expense of individuality and privacy.
- They showed a strong preference for a fair and democratic community. They wanted rules and decisions to be made as a group and wanted equality among all its members.
- Power over choice of housemates is also something which stood out as an important factor. The ideal community traits were honesty, cleanliness, and consideration for others. Single residents tend to prefer other singles, or couples without children. Parents and pet owners are seen to be the last choice in roommate options.
- The need for socializing and participating in group events was secondary to the need for privacy and space away from others.
- Most people would rather share chores and household duties than pay for someone else to do it for them. Sharing the costs of utilities, WiFi, groceries, transport, and office supplies appealed to most. Sharing bedrooms or bathrooms was undesirable. Most wanted a balance of private spaces and community areas.
- The ideal community size fell between the 4 and 10 range.
The Inspiring Truth About Housing in 2030
What did we learn from the IKEA survey?
We learned what housing is likely to look like in 2030. More importantly, we learned that the co-living concept could be perfect for people who are:
- Living in a tiny apartment with no WiFi
- Struggling to make rent despite working crazy hours or
- Making long daily commutes
- Don’t have the time or energy to make friends
- Travel Bugs: Co-living spaces and corporate apartments are fully furnished and inclusive of all amenities, utilities, and Wifi. This makes it a very appealing alternative to costly hotels or BnB’s. Co-living space leases tend to be very flexible and can be obtained on a month-to-month basis. Thus, they are an ideal option for visitors from out of town.
- Workaholics: When projects require long nights and collaboration, live-in co-working spaces fill the gap perfectly.
- Homebodies: For introverts who prefer avoiding commutes and enjoy having everything they need close by, co-living provides a convenient cocoon.
Co-living can open up a whole new world to you.
Additional Benefits of the Co-living Concept
— Outpost Club (@outpost_club) November 18, 2017
Co-living is more than a cost-cutting, environmentally friendly solution to the housing crisis.
It also has massive appeal to IT techs and other industry professionals. The tech world has long embraced shared workspaces and co-working arrangements, so it’s a concept that is not new to this community.
Did we answer your questions about the co-living concept?
In this post, we reviewed the nuts and bolts of what is co-living.
We looked at the upsides and downsides as well as the costs involved. The co-living concept isn’t for everyone, but it is growing in popularity. By 2030 it could easily be the norm in urban settings, for IT professionals and many other groups.
Any tips, suggestions or questions?
About the author of this post.
Alex is a digital marketer and blogger and wrote this piece on behalf of Outpost Club.
A budget-friendly service provider of quality corporate housing in New York, Outpost Club is a co-living firm that provides the flexible convenience of single bedrooms or studio apartments in their co-living communities. Outpost Club offer shared or private rooms which are fully furnished and equipped with all the necessary amenities. Corporate housing is like a friendly “home away from home,” with a price tag that is up to 60% lower than what you’d pay at a hotel. Ideal for NYC visitors in town for business or pleasure, Outpost Club spaces are move-in ready, with kitchen appliances, toiletries, high-speed internet, HDTVs and a range of office supplies included.
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