Like a never-ending rollercoaster, trends come and go. Sure, variations set in, but at its core, these variations only serve to reinforce the new concept. Coliving is one such concept. ‘What is coliving’ is the question on many lips…and a question we’ll answer in this article!

It’s helpful to remember that although shared apartments have been around for some time, the concept of coliving spaces is only just gaining worldwide acclaim. What makes it confusing is that both situations are similar.

In this article, we’ll cover what is coliving, its pros and cons, and how to decide if it is the right option for you.

What is coliving?

Coliving is a modern form of shared housing that allows you to live with like-minded people while maintaining your privacy. Usually, each resident has their bedroom while the rest is a communal space. It is different from the typical roommate situation because the community is usually larger, the amenities more luxurious, the living cost lower, and conflicts lesser (because of like-minded roommates).

Companies that offer coliving effect this by matching like-minded residents, rolling out individual lease agreements, providing cleaning services, and offering luxury amenities. With all these available at a lower price, it is easy to see why coliving is an attractive option for students, entrepreneurs and young professionals.

It is important to note that because residents have their individual lease agreements, you’re only responsible for your rent and won’t need to worry abut whether the others have paid or not.

What does a coliving space look like?

Coliving spaces vary from apartment to apartment and from city to city. Generally, you can expect to find separate rooms and shared communal spaces. Usually, the communal spaces are preinstalled with necessary furnishings and amenities – luxury ones – to make the residence more attractive.

Different types of coliving arrangements

The interesting thing is that there’s more than one way to colive. A few possible arrangements include:

1. Traditional shared housing: Here, a group of people rent an apartment together, and share the lease. They also furnish the home together.
2. Dorm-style housing: Comprises privately owned rooms with hallways that lead to shared communal spaces. Can run from a few rooms to hundreds of rooms depending on the size of the building.
3. Co-ops: Large apartment buildings owned by several shareholders and run by a board. Apartments are individual but the shared spaces make coops good for people who want to raise their family in a community setting.
4. Co-housing: These communities consist of single-family homes spread around a general house, with lots of green space and organized events.
5. Communes: Made up of communities where members share political or spiritual beliefs. A monastery may fall into this category.

Pros and Cons of Coliving

As with almost everything, coliving has both its advantages and disadvantages. Here are a few of them to help you decide if coliving is worth considering:

Pros of Coliving

1. More for less: Coliving spaces allow young entrepreneurs to pool resources together to fund apartments in city boroughs they may otherwise not be able to purchase. The apartments usually also come with extras in the form of fully furnished shared spaces, amenities like game rooms, gyms, etc.
2. Increased sense of security: There is safety in numbers. Apart from the high-level security that is usually associated with these apartments, knowing that you’re not alone can make you feel that much safer.
3. Luxury amenities: Unlike with traditional renting where you have to cover bills for any utility and amenity, many coliving spaces are well furnished and pre-fitted with luxury apartment amenities

Cons of Coliving

1. Limited to major cities: Coliving as a trend is just catching on. What this means is that it is not yet available in every city. To enjoy this residential option, you might need to be based in a major city.
2. No influence on housemate selection: Your individual preference does not matter in the tenant selection process, so you could end up with a total stranger you don’t get along with. However, coliving spaces try to match residents with similar interests together to reduce risk of conflict.
3. Problem over use of communal spaces: As with shared apartments, problems can arise over communal spaces. You may want to binge watch your favorite soap opera while your house mate wants the quite calm of RnB music while they lounge on the sofa. Another may want to have friends over. These conflicting interests will lead to problems you wouldn’t have to deal with if you lived alone.

Is coliving right for me?

Deciding whether to pursue a coliving option or otherwise is a choice you have to make on your own. While it is a good rent option, it isn’t right for everyone. Nonetheless, if you want the luxury of a community but cherish your privacy, it may be the right option for you. Take your time. Weigh up your options based on your budget and your home preferences and decide if you want to opt for traditional renting or coliving. Your perfect home is out there somewhere!

Bottom Line

More and more people are settling for the coliving option, which may be a testament to the advantage of the model. However, regardless of what choice you make, Roomi can help you through your apartment search. By applying the filters on its matching algorithm, Roomi ensures your home fantasies become a reality.

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