What was a relatively unknown concept years ago, co-living has now become popular among entrepreneurs, young professionals, remote workers, students, and travelers. Essentially, co-living is a modern type of housing or accommodation where a group of people lives in a shared space.
Co-living spaces tend to be affordable co-living hotels or large buildings with fully furnished and specially designed living spaces that encourage residents to interact with one another. If this is your first time hearing about it, have no fear! Here’s everything you need to know about co-living and why it could be the next big hospitality trend.
What is Co-living?
Co-living or communal living is a kind of modern housing where a group of people, who are likely strangers, share a living space. The residents may likewise have shared interests and values.
A co-living hotel, for instance, provides private sleeping quarters for its residents but the kitchen, gym, and work areas are communal spaces.
Benefits of a co-living space
While there are countless benefits, the following three are essential if you are considering living in an affordable co-living hotel.
1. Cost efficiency
The most interesting thing about co-living is that it’s one monthly flat rate. Hence, you get to share the expenses with the people you co-live with. And such expenses already include the rent, use of communal spaces, cleaning, and other bills. Also, you do not have to spend money on furniture or hire movers as most co-living spaces are already furnished.
Moreover, there’s often no lease agreement with co-living spaces. Thus, making it an ideal choice for people who frequently move from city to city. Residents can conveniently move from place to place, if circumstances require, without being tied down by a lease.
The expenses you pay for a co-living space, however, will vary depending on the city or area where it is located but co-living will always be more affordable than traditional rent as the expenses are shared between the residents.
2. Sense of belonging
Living alone can be difficult and lonely; that’s why for some. Being surrounded and living with other people every day serves as a huge relief. And that’s what a co-living hotel can provide – to bring a sense of community and help others who are suffering from loneliness. While your personal space and privacy are respected, you are allowed to engage and be included in a supportive community.
Co-living spaces end the feeling of loneliness and disconnection. Imagine waking up every day in a home full of people who are motivated and energetic. It feels so refreshing and inspiring. So, whether you’re studying for a degree, relocating for a new job, working remotely, or starting a new company. You’ll always find someone you can connect with and create a lasting friendship with.
3. Convenience and comfort
The beauty of an affordable co-living hotel is the convenience and comfort that it provides. Many hotels have fast and reliable WiFi, and this can help you a lot if you’re working online or attending online classes.
Other services and amenities that you can enjoy include swimming pools, leisure areas, fully stocked kitchens, a gym, and a spa, which are all covered by your co-living fee.
Privacy and companionship
With recommended co-living in Singapore, you don’t have to worry about your privacy being invaded because most co-living spaces offer private space options. On the other hand, if you are a social person, you’d surely love co-living. As it gives you the chance to communicate with others, share ideas, and talk about anything even random stuff.