Here are five reasons young professionals are choosing co-living over house rentals

Co-living is quickly replacing traditional housing options for millennials all over the world, and it is only anticipated to increase as the idea of shared living spaces spreads

author_img IANS Published :  31st August 2022 09:59 PM   |   Published :   |  31st August 2022 09:59 PM
Co-living is the new way of life for young professionals

Co-living is the new way of life for young professionals

For college students and young professionals, especially in big cities, co-living has become the new ‘it’ thing. Although these locations may be the centre of business activity, moving somewhere new to start over can be difficult due to the high cost of real estate and other complications. Co-living offers many advantages, which is why it is now one of the most sought-after choices for young professionals in the real estate sector. The co-living company, Isthara, outlines the distinctive features that set co-living apart from rented properties.

Being social beyond social media

While social media was designed to bring people closer, it fosters an environment of reclusion, often driving us away from social interaction. This problem often persists in a greater font in rental spaces where a person is living by themselves, or with just one or two roommates who they have never met before. Co-living spaces are designed in a way where they foster community engagement, and often offer programs and activities that bring all the residents of the property together to partake in recreational activities. This helps those who are moving to a new city for work, and who don't already have a social support system in the city.

Also read: Live & Let Live: 'Habitat Inc' in Hyderabad wants to provide co-living spaces to  LGBTQIA+ community

Lower deposits, not expectations

Often, one of the biggest hindrances when moving to a new city and renting out a place is the sky-high prices of real estate. Co-Living properties always have low rates because of the shared model, and often boast of prices that are 1/10th that of renting out single properties or rooms. This makes co-living the perfect option for those who don't want to start saving right from their first job in the new city. Along with the base prices being cheaper, co-living allows young professionals to live closer to their workplaces. Often, residential properties near corporate parks have higher rental rates because of the increased demand, often making them unavailable for those who are just starting out their careers. Choosing co-living spaces over rental spaces makes it more viable to stay closer to the workplace, thereby also reducing the overall cost of commuting that the professionals have to endure.

No more chores

Moving to a new city often comes with a renewed sense of independence, especially for those who are moving away from their home for the first time. Living independently means you often have to do household chores, which may especially be tough for those who have grown up depending on their family for everyday tasks. When living in a rental property, it becomes imperative for the resident to take care of cooking, laundry, cleaning, and additional chores to maintain their living space and ensure things are in order. However, coming home after a tiring day of work and having a long list of chores in front of you is never ideal, which is why co-living comes in to save the day. Co-living properties come with a wide range of amenities and services such as housekeeping services, meal options, and laundry services, among others, to ensure that your living space is well maintained.

Also read: Meet the founder of Chestnut Storeys, Farah Agarwal, who designed actress Nikki Galrani’s Chennai apartment

Live according to your lifestyle

Many people move to a new city to have the freedom to live life on their own terms. However, rental properties often come with restrictions. Even in metro cities, a lot of rental spaces refuse to offer their spaces to people belonging to a particular class, caste, gender, or sexual orientation. While this level of discrimination has diminished over the past few years, it is still prevalent, and can sometimes pose additional safety risks to those belonging to specific communities. Many co-living providers are open to everyone, regardless of their background, and even offer special properties to those belonging to minority communities.

Leave the renter conflicts at the door

Being given a choice of renting out space does not always mean that there would not be additional hurdles that come along. Those renting out spaces often fall into conflicts with their landlords, roommates or even their neighbours regarding a wide range of concerns, and with co-living, these conflicts can be brought down to a bare minimum. Most co-living brands offer an easy redressal mechanism through which their residents can easily get their issues resolved in a systematic and streamlined manner, thereby reducing the probability of conflicts. Co-living properties also have property managers and resolution teams that take care of the issues that arise.

While relocating to a new location might present a number of obstacles, one of them should not be trying to find a place that is suitable for your needs. Co-living is quickly replacing traditional housing options for millennials all over the world, and it is only anticipated to increase as the idea of shared living spaces spreads. Co-living is the new way of life for young professionals and will undoubtedly permeate both college and professional life in the years to come.

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