From shared cars to filling extra space in your suitcase transporting items for others; the world has begun to take advantage of surplus space through the rise of the sharing economy. The housing industry is no exception. So here comes Co-living — a cross between student housing and hotels, where residents share facilities. It’s a form of communal living redefined for a modern, mobile, work-from-anywhere world. It is an idea with a professional focus for the young and ambitious.
The rise of co-working is a natural predecessor for widespread co-living: the concept that people can live in a shared space without recreating the feeling of living in a college dorm. In reality, co-living is still focused on co-working- it just allows those using the space to sleep, eat, and play.
The dynamic mix of work and play serves a lot of different people- from remote workers, to digital nomads, to team retreats. Co-living breaks down fences and allows people to start sharing amenities in their living environment so that there is a quality of life but also a social activation. Co-living’s proponents would argue it’s not just responding to a trend, it is solving problems, actively promising to enhance the lifestyle of the young professional. Each co-living space is unique, and has its own unique appeal and community.
Sharing houses itself is nothing new, but co-living takes the concept of sharing to a whole new level. Not only does it solve the problem with an easier and more convenient housing in relation to economic benefits and location, but also provides lonely millennials with the opportunity of connecting with others while living and working together. The big question is how this way of living actually works out? These residents often have their own rooms, but share the common areas such as kitchen, living room with other residents.
While still in its early stages, the mobile workforce is sure to propel co-living spaces to greater prominence and leave us all eager to take advantage of them. Co-living in its current form is primarily aimed at people in their 20s and 30s, who value travel, job mobility, minimalism, flexible schedules, and social networks, and prefer cities to suburbs. Co-living has appeal and support that will help establish it as a unique but valuable form of accommodation. Residents may stay anywhere from a few days to a few months, but the concept of co-living has a permanence that will last for years to come. And if you’re on board with the co-living idea, we are too!
by Prabhat Kumar Tiwary