Finding a place to live can often be a tricky task, and all the more so nowadays with the cost of renting or buying a property—as well as all the other expenses—on the rise. One solution that has been growing in popularity is co-living, which can be a great stepping stone on the way to independence, and offers you the chance to save money and make new friends. Here’s why it’s such a good choice.
What is co-living?
Co-living is a type of communal accommodation where residents have a private bedroom (and sometimes an en-suite bathroom) and share other living spaces such as the kitchen and living room. Some even have gyms and office spaces included. It’s a popular choice for young professionals, particularly when they move to a new city, and offers lots of advantages over more traditional living styles. So, whether you’re looking at or New York condos, you should definitely consider co-living as an option.
What are the benefits of co-living?
Co-living offers numerous advantages, one of which is, of course, financial. The rent tends to be lower than it is for a studio apartment or normal shared apartment, in addition to which, other monthly costs such as utilities and even WiFi are usually included. Some will also provide free use of laundry and other facilities. Plus, co-living accommodation normally comes fully furnished, which means you don’t have to spend any money buying furniture, kitchen equipment, or other necessities.
Not only does co-living save you money, it also saves you hassle. There’s no need to worry about tasks such as finding room-mates, setting up utilities and WiFi, or sourcing furniture—everything is taken care of so that you can just move straight in as soon as you’re ready. Plus, with the high standard of amenities and furnishings provided, it in no way feels like a compromise.
Many co-living spaces also provide weekly cleaning services, so you don’t have to fight over whose turn it is to clean the bathroom or kitchen! The owners will also take care of property maintenance and other services, with a quick turnaround time and reliable contractors, so there’s no fear of falling victim to the sorts of you hear about online.
Another way in which co-living is hassle-free is in terms of its flexibility. Generally, you won’t have to sign a long-term lease, which gives you the freedom to move out whenever you’re ready. Because each resident is on an individual contract, you also don’t have to worry about your room-mates moving out and leaving you with higher rental costs if you can’t replace them.
One of the other major benefits of co-living is that your new home comes with a built-in community of like-minded people. This is especially important if you’re moving to a new city where you don’t know anyone yet. It can often feel overwhelming to be in a new place, and isn’t always easy. With co-living you can easily socialize with those you live with, yet still have the sanctuary of your private bedroom to retreat to when you want some quiet time.