The concept of co-living or community living is becoming increasingly popular, especially in the major urban hubs of the United States. As Joe Cianciotto mentions, while the concept of shared living space is not entirely new, the notion of co-living has certainly been reimagined by the millennial generation, who value collaboration, community, affordability, and a shared economy. Co-living is a housing concept that promotes shared living spaces while focusing on building an ecosystem of collaboration, connection, and support.
Joe Cianciotto sheds light on certain advantageous features of co-living spaces
Co-living has emerged as one of the fastest-growing industries in the United States, as college students, young professionals, and digital nomads increasingly choose shared apartments over dorms and traditional rental properties. Co-living spaces not only connect people with like-minded roommates, but are also a much more budget-friendly housing option compared to renting a traditional apartment. It is quite a level up from living in a college dorm as well.
By opting to reside in a co-living property, one would get to live along with like-minded individuals who may become life long friends, while also cutting down the overall living expenses. As the cost of living in large American cities keeps rising, co-living spaces allow people to both save money and enjoy a convenient lifestyle. One of the biggest drivers behind the popularity of co-living spaces is their affordability. This housing concept is particularly appealing for college students and young professionals who want to save money on rent. Co-living apartments usually have lower rent than a regular apartment. Moreover, their rent even includes the price of utilities, Wi-Fi, and extra amenities like cleaning services.
As per Joe Cianciotto, co-living also provides people with a readymade community, which can be very advantageous for young people who have just moved to a new city away from their family and friends. Coming home to supportive roommates after a tough day makes it easier for such individuals to navigate the ups and downs of living in a new city.
For many young people, the definition of home has gradually shifted away from a place of long-term permanence. Rather, today they seek a place that can provide them comfort, affordability, and a sense of community. Making friends can be a challenge for many, especially when they are moving to a new city for higher education, work, or through the digital nomad life. Co-living is a housing concept that can solve this issue by providing students with built-in communal facilities and events that cultivate an environment perfect for open-minded people who are also looking to meet and connect with new people.
Flexibility provided by co-living spaces is also among their key advantages. Several people today, especially remote workers and digital nomads, prefer short-term or flexible leases. Co-living spaces are ideal for these individuals who are uncertain about committing to a long-term lease and buying furniture. The majority of co-living communities not only have flexible leases, but also provide the residents with fully-furnished rooms that come with essential amenities.
