Co-Living is the Future of Urban Living: Benefits, Types & More

Co-living is transforming the way people live in urban environments. Unlike traditional condominiums, apartments, or dorms, co-living facilities provide community-driven spaces, allowing their renters to socialize and collaborate. This guide will delve into the innovative world of co-living – explaining how it differs from other housing arrangements and why it’s a setup that many people are starting to consider.

What is Co-Living?

At surface level, co-living facilities just look like your usual condominiums or dorms; they also offer multiple room types (e.g. solo rooms, duo rooms, quad rooms, etc.) at quite similar price points. However, when you actually look at the details, co-living facilities actually put emphasis in their shared communal spaces like co-working areas, pantry/kitchens, and recreational amenities (e.g. swimming pools, theaters). On top of that, they also maximize these spaces by organizing events such as Halloween parties, New Year parties, skill workshops, movie nights, and more. 

Overall, co-living facilities offer affordability and privacy in their rooms while providing the opportunity for social engagement – differentiating themselves from other living spaces.

Types of Co-Living

1. Residential Co-Living Spaces: These are long-term rental facilities (i.e., usually a minimum of 1 month) with fully furnished units that allow immediate move-ins. These are usually located in central business districts (e.g. Makati, Bonifacio Global City, and Alabang).
2. Vacation Co-Living Spaces: These are designed with digital nomads in mind. They provide a balance between vacation and work. They usually have recreational facilities such as swimming pools and beach fronts and productivity facilities such as co-working spaces and meeting rooms. These are usually located in vacation hotspots (e.g. La Union, Siargao).

Benefits of Co-Living

1. Affordability: Co-living rooms usually share similar price points as traditional condominiums and dormitories. They also provide more chances to cut costs by assigning you to a room where you can share the rent, utilities, and maintenance among your roommates.
2. Flexibility: Lease terms vary from one co-living to another; however, they can usually accommodate short-term (1 week) and long-term leases (3 months to 1 year).
3. Social Aspect: Co-living facilities provide a unique experience where you can expand your network by meeting co-residents. 
4. Accessibility: Co-living facilities are usually located in vacation hotspots or central business districts, so going to work or school, whether remote, hybrid, or face-to-face, will not be a problem.
5. Amenities: The developers prioritize the needs of the renters when they design these co-living buildings. So, they are able to offer a balance between work and play with their productivity spaces (e.g. co-working spaces) and recreational spaces (e.g. swimming pools).

Who should live in a Co-living?

Co-living primarily appeals to the following cohorts.

• Young Professionals & Creatives: Co-living is great for young professionals and creatives (freelancers) because it offers an opportunity to network with others in similar fields.
• Digital Nomads: With co-living spaces, digital nomads who work remotely can enjoy themselves while being able to continue working.
• Students: Co-living offers affordability and opportunities for students to widen their network, wherein they can meet their batchmates, seniors, orgmates, or even students from neighboring schools.

Co-Living vs. Traditional Rentals

Co-Living

• Cost: Usually includes utilities (e.g. Internet/Wifi).
• Amenities: Often come with modern amenities such as coworking spaces, gyms, pantries, and community spaces.
• Flexibility: Accommodates short- and long-term residential leases ranging from a few weeks to a year.
• Lifestyle: Co-living spaces foster a collaborative, social atmosphere.

Traditional Rentals

• Cost: Fees for utilities and other services are often separate from the rent.
• Amenities: If the traditional rental is a modern condominium complex, then it could have modern amenities as well. In such cases, the administrative fees would be more expensive. Otherwise, in older rental buildings and complexes, there are minimal amenities.
• Flexibility: Traditional rentals often accommodate long-term leases only.
• Lifestyle: In traditional rentals, there are fewer interactions with the neighbors, even in communal spaces.

How to Choose the Right Co-Living Space

When choosing the right co-living space for you, here are a few things to consider:

• Location: Check its proximity to your work, school, or the nearest public transport hub.
• Amenities: Think about what facilities are important to your lifestyle and workflow.
• Community: Choose a co-living space that aligns with your personal and professional interests. To ascertain this, try inquiring about the activities that they host.

Conclusion

Co-living is a refreshing new set-up in urban living. Whether you’re a young professional, a student, a digital nomad, or someone yearning for a more social experience, the affordable, flexible, and community-driven approach to housing or co-living will be the ideal solution for you! Explore co-living spaces today on Dormy; visit https://dormy.ph