One of the most common problems with the current rental market is that there aren’t that many choices for middle class individuals that are looking for affordable rent. For most, the options looked like this:
- Live in a smaller city, but have to commute long distance for work.
- Share housing with a roommate that you find on Craigslist which can come with a lot of problems.
And then there’s the new trend of Co-Living which is getting popular in major expensive cities.
In reality, like every other choice you make in life, Co-Living comes with its pros and cons, and we’re here to help you sort through it all.
In this article, I’ll cover some important facts to answer the question what is Co-Living?
Co-Living is a way of living that allows renters to dwell in big cities by sharing living space with other people.
You can think of this as living in a college dorm. Remember those good old fun days? It’s a community, it’s bonding, and it’s awesome.
One of the nice things about co-living is it’s less of a commitment than signing a long term lease or getting a mortgage. Even with apartments, you generally have to stay at least a year. This isn’t the case with co-living.
While terms will vary depending on where you stay, many communities offer a few terms you can choose from. They can be as short as 3 months or 6 months, but most of them are for 1 year.
The price that you’ll be paying for a Co-Living space will be fully dependent on the city that you choose to live in. For example, in San Francisco, it’ll cost a lot more versus a smaller city. Although, it’s still much cheaper than traditional rent.
Worrying the thought of interacting with 20 people every day? Don’t worry Co-Living spaces pretty much always offer a private room you can retire to, and many have quiet hours so everyone can get some rest.
There are converted spaces, single rooms, master bedrooms, shared rooms, and many options when choosing co-living as an option.
That said, you probably won’t be able to avoid interacting with the rest of your house completely. Many people choose Co-Living specifically for the community, so don’t be surprised if someone strikes up a conversation with you in the kitchen or having a bit more social interactions.
If you’re not a social person, then a community environment might not be best for you.
One of the things that suck about moving into an apartment is that you have to purchase utilities and other household supplies. This does not mean that you don’t have to do it in a co-living space, but some co-living spaces come with utilities.
Most will include cleaning services, utilities, entertainment products like TV, and basic supplies. Most spaces come with kitchenware, paper towels, soap, and other household staples, saving you even more time and money.
Some also come with a clubhouse where you can shoot some pools with the community.
Whoa, is it that simple?
Yep! That’s the power of co-living and the power of community. This doesn’t mean that it doesn’t come with downsides. Many of the challenges that come with Co-Living are typical pet requirements and more. Most co-living communities will not allow you to bring pets, so sorry to the pet owners out there!
If meeting and living with new people sounds like a great experience for you, it make sense to give co-living a try. But if the idea of sharing a home with others on a daily basis stresses you out, you’ll probably want to go a different route.
Either way, no matter what type of living space you are looking for, you can check out HomeShare, and we’ll find you the best co-living space that you are looking for.