Moving to a new city can be an exciting adventure with so many places to visit, people to meet, and things to do. Finding a place to call home is the first big step you have to take and it can be a little challenging. It’s no secret that many of India’s largest cities lack affordable housing options. That may put a damper on your dreams of living in a big city. People are turning to an age-old practice to help them cope with high housing costs.
People are reverting to the age-old practice of cohabiting to avoid high housing expenses. In a nutshell, they are assigned ‘housemates’. However, the recent housing trend of “co-living” gives this tradition a modern twist. Coliving has been compared to dorm life and communal living. Some folks don’t see how it differs from a typical roommate situation. Coliving is a distinct entity that offers specific qualities that set it apart from other housing options.
What is coliving?
Coliving is a newer rental concept that has emerged in recent times. It’s a form of shared housing arrangement that’s becoming increasingly popular. Developers provide shared living spaces with each resident having their bedroom and common communal areas. This might sound like a regular roommate scenario. However, coliving differs in a few fundamental aspects, including:
- The prospect of sharing a room with like-minded people
- A vast coliving community
- Amenities of the highest caliber.
- Compared to usually shared living arrangements, they have lower living expenditures.
- It has reduced roommate conflicts as well.
Finding a roommate that fits your lifestyle might be tricky. Money, housekeeping, guests, and pets all cause problems. Those things will inevitably create issues between roommates. Furthermore, cost-cutting tactics frequently put luxury services out of reach for many newcomers. Moving to a new city, finding suitable housing, and finding a nice roommate is, in short, a difficult task.
All these issues can be addressed through coliving. Developers while offering co-living opportunities, make it appealing to new inhabitants by connecting individuals within a space, providing cleaning services, creating individual lease agreements, and providing luxury facilities.
How is coliving the best option for like-minded people?
While traveling, staying in a hostel has its advantages: aside from the comparatively affordable accommodation rates, there is a laid-back atmosphere, and you meet like-minded people from all over the world with whom you may bond over board games and pub crawls.
Co-living provides community spaces with monthly rents that include utilities (water and electricity) and amenities such as Wi-Fi, housekeeping, meal services. The security deposits are also minimal and the renters are free of the limitations that they would face in typical PGs and flats. Coliving brings in a community character of living and thus all resources are pooled and expenses are paid collectively.
Unlike some communes, persons who choose co-living do not isolate themselves from the rest of the world; they engage in normal social interactions while preferring to live among like-minded people. As a result, co-living options have become increasingly popular around the world with numerous companies offering multiple sites. Its appeal stems from the desire of many people to be a part of the community and build bonds.
It’s simple to open your door and establish a new friendship or even a business when you are living in a co-living facility. A lessened financial load, community assistance, group activities, and a sense of belonging are among the other advantages. Co-living is currently popular among younger generations, particularly digital nomads who desire to travel without having to worry about a mortgage or lease. This way of living places a strong focus on agility that for some people, the ability to move from place to place without being held down is liberating.
When most people relocate to a new city, they sign a one-year lease, furnish the space, set up the utilities, and then either move or renew the lease when the year is up. However, there is frequently no lease obligation or minimum commitment with co-living spaces, making them an excellent fit for people who are traveling from city to city for work or personal reasons. Last but not least, many co-living places are already furnished, which means you won’t have to pay movers or spend money on furnishings.
Is coliving safe?
Co-living places are still in their infancy, and many people are unfamiliar with the concept. There have been concerns among the investors in regards to safety, getting scammed, etc. All these concerns are practically possible and thus understandable. Here are some suggestions for keeping your coliving place safe:
- Take your time when touring potential living places and envision how you’d feel going home to it every day.
- Consider the details, particularly if you want a private room, an open kitchen, or amenities such as a gym or a pool.
- Meet and talk with the residents to learn about their hobbies and how they prefer co-living at the property.
It is also recommended that you look up the developer offering the coliving facilities to ensure that you don’t get scammed. With sufficient due diligence, you’ll be able to determine whether a location is safe and suitable for you.
Although coliving is a new concept in India, it is gaining immense popularity. An individual’s dream to live independently and the hiking rate in the real estate market maybe some of the reasons why co-living is gaining attention. It is not only different from the traditional PG system, it is also beneficial. Unlike a PG, you are not bound by the restrictions laid by your landlord. It is also better than owning a flat as it encourages you to build communal behavior. Assetmonk is one of the leading players for coliving facilities in India and our new co-living project ‘The Landing’ is all set to spread its wings. Contact us for more details!!!
Co-living spaces - best place to live with like-minded people FAQ's:
Co-living is a newer rental concept that has emerged in recent times. It’s a form of shared housing arrangement that’s becoming increasingly popular. Residents are provided with amenities such as a shared kitchen, utility area, lounge room, and a common work zone as part of the co-living idea. This is in addition to each resident’s separate bedroom and bathroom.
Co-living is a new style of community living in which residents share common rooms and have their own rooms in a furnished home. Co-living, as opposed to standard apartments, appeals to residents because of its cost, flexibility, included amenities, and feeling of community.