The Rising Trend of Co-Living
Co-living, in a sense, is the reimagining of communal living. We've heard about coworking and its viable business model, but this new concept of co-living is making its grand debut.Those who live in these spaces describe co-living as modern housing where residents with shared interests, intentions, or values share a living space. At the moment, it remains mostly urban with residents sharing a house, building, or apartment; but it can, theoretically, be anywhere.
Unlike a commune, those who choose co-living do not separate themselves from those outside their living space; they interact normally outside the space and just choose to live with like-minded or like-interested individuals. For this reason, you can find co-living spreading across the world. There are co-living spaces in the United States, Europe, Asia, Latin America, and more, with several companies offering multiple locations around the world.
Why Is Co-living so Popular?
The rise of a co-living space comes from many factors, including the enjoyment of living with others who share similar interests. Many leaders in the co-living industry say that the popularity of this type of accommodations comes from the fact that people need to be around others. There are also benefits, such as a reduced financial burden, having support for problems when you need it, additional activities, and a sense of belonging. Co-living currently appeals mostly to younger generations and even digital nomads who want to be able to travel and don’t want to worry about a mortgage. They are fine with a more minimalist lifestyle, as they just fill a room instead of a whole home.
Exploring Some Co-Living Spaces
There are now hundreds of co-living spaces around the world, including companies that let you use various locations with a single membership.
The Collective offers both co-living and coworking in the UK, specifically London, and began back in 2012. The space has grown over the years and now has 10 floors with a total of 546 rooms spread out between them. Common spaces include three dining rooms with themes, a cinema, a games room, a library, a secret garden, a spa, a launderette, a roof terrace, a gym, a lobby, a restaurant, and a bar, plus a shared kitchen on every floor.
Roam is one of the companies with multiple locations around the world. These include London, Bali, Miami, Tokyo, and San Francisco. All rooms in all its spaces have private bathrooms and include cleaning services for towels and sheets.
Sun and Co is in gorgeous Javea, Spain, just an hour from Valencia. The property is a 19th-century home in a historic seaside town with the choice of shared or private rooms, more than 200 square meters of private areas, and communal supplies.
What Are Some Fears of Co-Living?
Co-living spaces are just starting out and some are still bewildered by this concept. Concerns are largely about safety, scams, how a community-driven, adult housing can actually work out and about the people they will meet. In college, all these may seem normal, but in the adult world, concerns become more apparent.
Social units are a confusing concept for now but we're excited to know how this business will pan out. Who knows, people didn't think they would be staying in strangers' houses until AirBnb made its debut.
Comparing Coliving and Coworking
Co-living and coworking are similar in terms of more than just their names. They are both based on collaboration and community. They take a novel approach to daily activities, whether it is how we live or how we work. Many coworking spaces are now adding co-living to their options, and a great deal of the co-living spaces around the world include coworking, as well. This can provide a revenue boost for coworking and co-living spaces while appealing to members who do not need to deal with a commute and can spend even more time with those who share their interests.