What is a co-living environment?

Co-living is a shared apartment model that houses three or more biologically unrelated people who live in the same housing unit. In general, coliving is a type of intentional community that provides shared living space for people with similar values or intentions. Co-Liv defines coliving as “three or more independent individuals who voluntarily live together in a home-as-a-service space that has a community focus and improves lives.

Coliving is a modern form of community living where residents are given a private bedroom in a furnished home with shared common areas. Coliving is popular in big cities as an affordable food for students, workers, digital nomads, or individuals moving. Unlike traditional homes, coliving is attractive to tenants due to its affordability, flexibility, included amenities and a sense of community. Companies offer shared living spaces where each resident has their own bedroom with shared common areas.

This may sound similar to a typical roommate situation. Like single room occupancy, coliving rooms offer residents a personal space in a shared apartment. In addition, however, residents share other parts of the apartment, such as the kitchen, bathroom, living room, library, gym and many others. By sharing resources more easily, co-living facilities not only save money, but also help develop greater environmental awareness.

Co-living also allows residents to choose where to stay without being discriminated against based on their choice of food, clothing, race, caste, or gender. While living together will by no means replace traditional roommate agreements in the foreseeable future, it is becoming increasingly popular. In most cases — almost 99% of shared homes are already fully furnished and don’t require or allow you to bring your furniture to replace the furniture provided. In the next few years, the number of units offered by major co-living companies in the United States will triple to around 10,000, according to a new report by real estate company Cushman% 26 Wakefield, which provides a detailed insight into the state of coexistence.

According to the study, large co-living companies such as Common, Ollie, Quarters, Startcity, X Social Communities, and WeLive, which are run by co-working firm WeWork, currently have just over 3,000 beds in the US, mostly in major cities. The idea of co-living is based on private spaces in shared modern homes, where members have both the privacy they desire and the community with different cultures and common interests. Co-living companies also offer less tangible offers like “community” and “authenticity,” whose value depends on the value you assign to it. The social and economic trends listed above certainly make co-living seem feasible, but whether it will prevail beyond a niche market in the USA is uncertain.

Similarly, people with families, especially those with transferable jobs, choose co-living facilities to live a liberal yet budget-friendly life that focuses on community and creativity. Companies that leverage this need, co-living solution companies leverage their technology-driven expertise to deliver fully managed long-term rental solutions along with a range of amenities at an affordable cost. As house rents skyrocket in India, particularly in major cities, living together has increasingly become mainstream and an attractive option for millennials and the working population. Unlike when you live alone in an unfamiliar city, in a co-living situation, there’s a community that checks in to make sure you’re okay, that you have what you need and support you so you’re not on your own.

On the other hand, if you’re an extrovert and thrive in a community and are empowered by shared cultures, events, and living and working with a group of like-minded people, co-living is for you. In general, American homes are part of the highest square footage in the world, so taking a broader step to cohabitation here may require a greater cultural shift than anywhere else.