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coliving

Is Co-living a Better Option Over Traditional Rental?

Have you ever wondered to live in a place which is economical, has a great neighborhood, conveniently located near your institute or office? This is for you
Is Co-living a Better Option Over Traditional Rental?
Image credit: Shutterstock
Founder and CEO, Housr
3 min read
Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Sharing economy is the buzzword among millennials and has transformed the lifestyle of the always on-the-move generation. From sharing transportation to online entertainment services to shared work spaces, sharing economy has become the new normal. It is widely valued for its ease of access, variety of quality products and services and the unique experiences it creates for the users. 

Globally, the sharing economy is creating ripples in the living spaces segment. India is no exception and it is rapidly revolutionizing living spaces considering the size of the youth population and the ever-increasing migration to urban areas. Shrinking spaces in cities coupled with woes of managing rented accommodations has fueled the growth of co-living spaces. 

If you have ever wondered to live in a place which is economical, has a great neighborhood, conveniently located near your institute or office, and which provides you the lifestyle that you desire, co-living might be the answer you are looking for.  

  • Makes Living on a Budget Possible  

             Moving to a new city means figuring out rentals and the overhead costs that come with maintaining the house you live in. Given all the overhead expenses, it becomes a bit tough to maintain a budget. Co-living spaces help you curb your housing expenditures and plan your expenses a lot better. As your rent and services are clubbed together, your cost of living comes down considerably. Services like house-help, plumber, electrician etc. are on the house. 

  • Helps You Beat Urban Loneliness 

             Today we prefer to DM over call, spend hours on Insta than actually living the Insta-worthy moments IRL. We have more friends than ever before, yet, we are lonelier than we ever were. Experts are calling this phenomenon Urban Loneliness. 

             With co-living you have around 500+ millennials living in your building. You have your own space, but the probability of finding the ones who really get you are much higher here. Co-living spaces thrive on experiences delivered through curated events. You might find your next BFF or your clan at the next karaoke or gaming night, you never know. But, at least you will have a fair chance. 

  • You are in Safe Hands 

             Let’s be real. Our cities are not as safe as we would like them to be. Period. Co-living spaces are managed and serviced by brands who have a lot of responsibility riding on them to keep you safe. You will find technologies like biometric ins and outs, facial recognition, 24x7 concierge along with security stationed to keep the residents safe. 

  •  Aesthetically Designed Tech-Enabled Spaces  

Unlike, traditional rental spaces which were built keeping the needs of family-living in mind, co-living spaces are built keeping millennials in mind. This ensures two things – urban design and tech-enabled living.  You can sit in your chic living room while finding out what’s for breakfast or what community event is happening in the evening on the app provided by your co-living space. 

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