As urban spaces become increasingly crowded and the cost of living reaches the sky, shared living has emerged as a popular alternative. It has greatly shaped how people view community living and resource sharing.
Let’s take a closer look at how shared spaces are redefining modern living and how you can make them work.
Co-living: A Global Trend
Co-living isn’t just for students and digital nomads. Young professionals and seniors are attracted to the idea of sharing a living space.
Think of coliving as a modern form of housing where individuals rent private rooms or studios within a large apartment complex. Guests share rooms, the kitchen, and the dining area. They also have access to shared amenities, such as swimming pools, gyms, and other community areas.
The Need for Community and Social Connectivity
Man is a social animal. Staying connected to others helps overcome feelings of isolation, anxiety, and depression. Social connections also reduce the risk of diseases and chronic illnesses, such as:
- Heart problems
- Stroke
- High blood pressure
By living in a shared space, you can experience other cultures and build lifelong friendships. Co-living also reduces workload. You can share chores, reducing fatigue.
Living with other people also gives you motivation to do certain tasks. For instance, you might not feel like cooking meals when living alone. This can change when you’re co-living.
Rising Rental Costs
Housing affordability is a crisis and needs immediate attention. According to reports, housing prices have increased by 30% on average over the past decade. During the same time, the median income has risen only 8%. These are alarming statistics concerning working professionals.
Millennials and Gen Z are finding it increasingly difficult to even pay rent. Due to the affordability crisis, students and young professionals are shifting towards co-living spaces.
For instance, if you’re moving to Hung Hom, Hong Kong, you can consider shared apartments. Co-living in Hung Hom (紅磡 共居) will help you save money.
Promoting Sustainability
Sustainability has become somewhat of a buzzword. But when you look closely, it has become an integral part of our daily lives. Surprisingly, by co-living, you can contribute to a greener environment.
By sharing essential resources like electricity and gas, you can reduce your individual carbon footprint. Many shared living apartments offer communal recycling programs, promoting sustainable living practices.
Live in the Heart of a City
Shared apartments are located in prime urban locations. You will have easy access to transportation, healthcare facilities, work, school, and supermarkets. Since the rent will be shared, you can worry a little less about the costs. You can also get flexible lease terms.
Is Co-living Right for You?
Co-living is an excellent way to save money on accommodation if you enjoy social connections. Ask yourself, how important is having my own personal space to me? Am I comfortable sharing basic amenities with other people?
Remember that you can make co-living work by setting boundaries early on and discussing concerns with your housemates.