What is coliving?

If you’ve ever found yourself knee-deep in the hunt for a shared apartment, you know how much of a hassle it can be. From endless searches and lengthy application and approval processes to coordinating with potential roommates, the traditional approach can feel like a never-ending maze. Enter coliving, an easy, time-saving and cost-effective way of finding and securing your new home. A hassle-free living solution, coliving removes all the stress from renting, leaving room for a seamless experience. Plus, you also get access to modern amenities, amazing locations in central areas, and a community of diverse and like-minded people.

Ready to learn more about coliving? Browse Habyt’s guide to discover everything you need to know, from the benefits to why this living arrangement is so popular right now!

What is coliving?

To put it simply, coliving is a modern housing concept where individuals get a private bedroom in a furnished apartment with shared areas like kitchen, living room, and bathrooms. Unlike traditional roommate arrangements, coliving spaces are meticulously designed to promote social interaction and connection while offering convenient amenities and unmatched flexibility. Coliving often entails short-term or flexible leases, as well as furnished shared areas, cleaning services, and utilities. 

These qualities (among many others that we’ll discover later!) make coliving a very attractive living option for tenants relocating, especially students, young professionals, remote workers and digital nomads.

Why is coliving so popular?

With many millennials and Gen Zers tending to acquire less and move around more often, renting over owning becomes a more attractive option due to its flexibility and convenience. But access vs ownership isn’t the only reason why coliving is so popular right now. In an era characterized by remote work, freelance opportunities, and digital nomadism, traditional housing models no longer suffice. Coliving caters to the evolving needs and preferences of young professionals, offering flexibility, convenience, and connection in equal measure. Alongside a private bedroom, coliving spaces also feature shared amenities that speak to today’s dynamic population, from areas to co-work or have a meeting to wellness facilities such as gyms or fitness centers. This not only means that you have access to everything you need under one roof, but also many opportunities to meet up with other members, connect, and feel less alone!

What are the benefits of coliving?

Now that you know what coliving is and why it’s so trendy, let’s unpack its many benefits: 

Affordability: In an era of skyrocketing rents and housing costs, coliving can be more cost-effective than traditional renting. Coliving rents often include not only utilities, but also amenities like pools and full-service gyms that would normally break the bank. Plus, many coliving spaces come fully furnished, eliminating the need to purchase expensive furniture.

Convenience and flexibility: Say goodbye to the hassles of setting up utilities or furnishing your space from scratch. Coliving spaces come fully equipped with all the essentials, from high-speed internet to cozy furnishings, allowing residents to hit the ground running from day one. What’s more, flexible lease terms cater to the transient nature of modern life, accommodating everyone from digital nomads to corporate expats.

Community and social interaction: Recent research shows that almost 10% of people aged 16 to 24 were “always or often” lonely. Coliving serves as an antidote for loneliness by fostering genuine connection and making it easy for people who are moving to a new city to find a community. From dinner parties to game nights, residents are able to forge lasting friendships that transcend the boundaries of mere cohabitation.

Is coliving right for you?

Put simply, whether coliving is for you depends on your personal preferences and needs. What we’ll say is that coliving is a great option for everyone, especially those who want to move to a new city without the hassle of complicated living arrangements, searching for roommates, or being stuck with inflexible renting terms. 

Whether you’re a digital nomad who wants to explore a new area, a student who is moving to a new city where you don’t know anyone, or a young couple looking to settle in an exciting and upcoming neighborhood, coliving might just be the right fit for you!