There are few things that get as overwhelming as the search for a new home. There’s rent to think about and utility bills. And if you’re looking for living spaces in New York, there’s a high chance you’ve considered co-living in NYC as well. Co-living has become an extremely popular alternative to traditional housing options. It especially appeals to renters looking to save money! But also to those living spaces that come with a sense of community.

What is co-living? Why is it so popular?

The recent popularization of the affordable housing-startups has led to the rise in group housing for adults. And this is essentially what we refer to as co-living.

Co-living in NYC, as well as around the world, has taken many forms. We have witnessed the transformation of apartments as well as high-rise buildings. They’ve transformed into either dorms or single houses where groups of people live together!

Co-living housing often entails short-term or flexible leases. They include perks such as cleaning services, professionally furnished common areas, and turn-key amenities and utilities.

But it’s also important to remember that while co-living, is a currently trending term. It may refer to this housing model we just mentioned, but it also has a broader meaning. And in a broader sense, this could mean anything from intentional communities where people live together, to just simply living with roommates.

Related: Roomi’s Guide To Senior Home Shares & Having Roommates After 40!

The reason why this structure has risen to such immense popularity in recent times is the ease it provides to those looking for it. Similar to co-working offices, co-living disrupted the traditional housing model by borrowing the concept of resource sharing. Tenants trade personal space for a fully furnished bedroom, shared common areas, and sometimes group social events, all under a predetermined cost structure. While residents still have to deal with security deposits, and income requirements, coliving has made house hunting in NYC significantly easier.

Let’s now take a look at the perks of co-living in NYC.

With NYC’s rental prices, co-living comes in as a very affordable option.

Rent can be the biggest expenditure for a lot of us. New York in itself can be an expensive city to live in. So if you’re looking to save money, co-living in NYC is a great option to accomplish that.

But with living spaces, rent isn’t the only thing that makes our pockets sore. Coliving, however, makes it slightly easier. Because even if you’re paying the security deposit and rent (which will be considerably lower than living alone), you’re still not paying for a couch, and wifi router!

Co-living in NYC comes with a ton of convenience.

Moving into a new house requires a lot of household management, which in turn, requires a lot of time and money. But with co-living spaces, you don’t have to set up utilities, schedule monthly bills for essentials like wifi, gas, electricity, and spend time decorating your entire house.

There’s also the added benefit of sharing and negotiating chores with your roommates! Administration of living spaces in co-living settings takes a considerably short amount of time.

Co-living comes with a built-in sense of community.

Making friends as an adult is hard. But the great thing that comes along with living in a shared space, is that you always have a sense of having someone around if you need that. And then, familiarity breeds friendship like nothing else. And in no time, you who moved to a new city with no friends at all, will have found your circle!

Co-living in NYC particularly would mean living in a city like New York, and having a group of people who won’t just be having similar New York-ish experiences as you, but also might be well versed with the city in a way that could really benefit you.

Related: Help! I’m Stuck Coliving In Quarantine With Roommates I Don’t Like

Co-living in NYC means lesser financial liability as opposed to a group lease!

Basically, you wouldn’t be harassing your roommates to reimburse you for the months they skipped on paying rent. You wouldn’t have to bother with paying your utility bills upfront. And! you won’t ever be on the hook to find a subletter for your roommate!

Sounds like a pretty sweet deal to us.

D’you know what else Roomi does outside of helping its readers familiarise themselves with co-living in NYC? With our ever-increasing lists of rooms and roommates across the world, we help you find your perfect match! Download the app here and hop on the easiest ride home, ever!