As more people look for affordable housing choices when moving to the major city, the co-living area has grown dramatically in recent years. As a result, numerous new trends have arisen in this field, making our future more convenient and intelligent

Multi-Generational Co-living is one such trend that is gaining traction around the world, in which companies pool their resources, promote community, and cater to the requirements of different generations. From senior citizens and retirees to middle-aged couples, students to migrant youth all are finding an abode in co-living spaces due to the benefits such places provide. To drive this transformation of smart living, such residence benefits all with numerous factors that are – affordability, short-term commitment, thoughtfully designed infrastructure, safe environments, and easy access to relevant hyper-local ecosystems.

Co-living is a convenient and cost-effective option

Renting or acquiring an apartment can be very expensive if compared with co-living spaces. The monthly rental of co-living spaces covers access to all possible facilities along with the charges for maintenance and other expenses, making it the most cost-effective accommodation solution to choose. Most of these properties are located close to offices and colleges or areas that are convenient for the tenants, saving a lot of travel and effort. This actually helps in reducing a lot of carbon-footprint as both fuel usage and traffic is reduced.

Co-living providers have also integrated technology in a smart manner to get most of the things done. From on boarding, to asking for assistance in the room, most of the tasks can be done on the phone using apps.

Availability of amenities like beds with good linens, attached bathroom, high-speed Wi-Fi, AC, TV, Fridge, Microwave, Professional housekeeping services, Laundry services, and others is becoming one of the reasons behind the robust demand of co-living spaces across all generations.

Nutritious, hygienic meals and overall cleanliness are highlights of most of the co-living providers. Such places come with spacious communal areas like libraries, social kitchen, gym, game zones and leisure areas too. In addition, communal spaces help families and other members to spend quality time together.

The Co-living spaces also come up with facilities like completely furnished rooms with modern conveniences and dedicated spaces to work long hours from home. This further makes the member feel comfortable considering each other as family members. Thus, the ready-to-move-in co-living spaces provide a premium standard of living to all its members, where they can enjoy a luxurious life under a single roof.

Shaping the room for growth

In the post-pandemic world, hybrid working preferences have become an important part of mainstream inclinations. The multi-generational co-living space also provides advantages for different generations too. As the members living in such communal spaces interact with people from different backgrounds and also explore and learn new skills from each other. Hence, all the above benefits are easily available in co-living if compared with traditional rental housing opportunities like leased houses, unorganised PG’s that have high rentals, enormous capital investments, and long-term commitments. Additionally, the traditional housing options are often found in bad shape, unappealing, and lack security options.

Positive environment with ensured security and safety

Co-living spaces are mostly preferred by digital nomads, working professionals, and students since it offers benefits such as amenities, community, cleanliness, safety, and a positive environment. However, in recent years, we have witnessed that co-living has now become a favourite accommodation solution for everyone.

– The author is the co-founder of COVIE, a company that operates in the co-living space
(The opinions expressed in this article are those of the author. They do not purport to reflect the opinions of Times Property.)

Source – Times Property

Categories: COVIE Under SpotlightPublished On: January 18th, 2022

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