4 Reasons Why You Should Consider Co-living Spaces

co-living spacesPhoto by nrd on Unsplash

Today’s changing landscape of work and play has also led to a shift in where and how we live. One of these is the rise of co-living spaces, a new form of shared housing becoming more widespread especially in bustling cities. For the young and starting out, co-living offers several advantages over staying in dorms, boarding houses, or even condominiums and apartments. Read on to find out the top 4 reasons why you should consider co-living spaces as your next housing solution!

1. Budget

The biggest plus to co-living spaces is that they are relatively easy on the budget. Many persons living away from home for the first time might consider co-living spaces to be a great step between the family dwelling and an apartment or condominium shared with roommates. These communal dwellings offer basic necessities as well as common spaces such as lounges and roof decks, for as low as less than 6,000 to 7,000 pesos per month. This fee covers personal space, which may be as small as a bunk or as large as a cubicle, as well as shared bathrooms and kitchens. Additional appliances such as electric kettles and induction cookers can be provided by yourself, or better yet, by a housemate. These perks of co-living allow you to enjoy the comforts of living in your own space while having a little extra to set aside for other needs or even eventually a place of your own.

2. Ease of Dealing with Utilities

One drawback of living in your own apartment or condominium is that you are responsible for calling and paying for your own plumber, handyman, or anyone who can help service your utilities. Co-living spaces have it so much easier; if something needs servicing, all you have to do is notify the manager or concierge who will help schedule the repairs. They will take care of designating someone to be there during the repairs and ensure that the payment is given on time. Since you are sharing the space, the costs of repairs, as well as regular billing for utilities, are split among you and your fellow residents.

3. Added Security and Comfort

Many co-living spaces come with security features such as 24/7 CCTV monitoring and biometrics at the entrances. Residents are also entitled to secure storage spaces such as safes and locked cabinets to allow them to stash their belongings. These are steps up from the minimal security provided in many dormitory and boarding house setups and are worth the slightly higher monthly rental. With these features in place in your co-living space, you can enjoy added peace of mind, even when they are away for the weekends or short vacations.

Co-living spaces also offer added amenities that add significantly to the comfort of dwellers such as airconditioned rooms, elevators, and use of common spaces such as receiving areas and roof decks. Another plus is in-house Wifi, at no additional charge to the monthly fee. Now that is a perk!

4. Flexible Lease Terms

Most leases for apartments, dormitories or other living spaces require you to be locked in for a year before the contract can be renewed, terminated or even re-negotiated. Co-living spaces offer accommodations for more flexible spans of time ranging from three months up to a full year. These types of lease terms allow you to enjoy the comforts of shared living even for the time required to complete a project, temporary assignment, or other short-term situation, all without being obligated to find another tenant or co-renter to finish the duration of a long lease. Co-living spaces with these lease terms are ideal for today’s very upwardly mobile young professional, or someone starting out on an itinerant career track.

Although having one’s own apartment or condominium remains the dream for many young employees and professionals, this goal may take some time to achieve. Setting up in a co-living space is a great way to begin building your nest egg for a space of your own. And who knows, you may make a friend or two along the way, or just enjoy the feel of being independent and on your own! Happy co-living!

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