With the rise in housing costs and rents, many people consider turning their homes into co-living spaces. Is this a fancy way to say get roommates? Sure is! But, these are not typically long-term roomies. It’s a little more than that!
First Thoughts
Before you think of co-living as just a roommate situation, consider this as an opportunity to create a connection while having others help pay your mortgage.
Many homeowners offer great amenities like furnished rooms, high-speed internet, and housekeeping while they host people who may only be in the city for a few months. Many co-living spaces are offered to digital nomads, traveling nurses, or international students only here briefly.
Sharing Common Spaces
Yes, you are sharing your common spaces with your temporary houseguests. However, many homeowners love this opportunity to get to know people they would have never met otherwise.
Also, many people who come into your space for a few months find a sense of community in an otherwise transient lifestyle.
The World is Different
Many younger millennials and Gen-Z’ers are opting for experiences over material possessions. With this thought process and remote working, co-living spaces allow one to try a new city before committing to a big move. This also allows people to continually travel to new places while having a home-like atmosphere.
We are even finding retirees loving this option to explore new places without committing to a particular location.
Privacy Concerns, Etc.
Understandably, there will be a lack of privacy with this lifestyle. But, to keep some space to yourself, get a lock for your door, and don’t feel bad about needing to retreat there for some quiet time.
You’re not responsible for entertaining these temporary guests.
Why?
I go back to the rising housing costs as many choose this option. Whether you’re looking to share your space or the one looking to live somewhere temporarily – it can be financially beneficial to both parties.
Societal values have shifted immensely too. The younger generations do not see the need to take the traditional route. This living experience provides them convenience, affordable solutions, and the ability to see more of the world.
Co-living spaces will not be for everyone – but it just might be for you! Let’s talk about all your options!
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