Top 5 Benefits of Coliving, Pros and Cons, Types, and More

You’ve probably heard about the concept of “coliving“. Although it’s not a super new trend, more benefits of this way of life are uncovered every day.

There’re many types of coliving and ways to implement it. It’s a lifestyle practiced in different locations around the world.

Let’s take a look at the definition of coliving, its different versions and some pros and cons of choosing it as a way of life.

What is the Meaning of Coliving?

Coliving is a concept originated in the real estate industry, popularized by the rise of new forms of housing and nomadic lifestyles. 

It’s also a concept that has been boosted by those professionals who want to develop their careers while traveling.

Coliving offers all the services in one fee, so that you don’t have to worry about anything. Wifi, cleaning, etc. Everything is included! And, above all, it offers an ecosystem of people ready to share experiences and knowledge. This is the essence of coliving.

In turn, the living spaces can have many characteristics: different types of houses renovated to receive people, apartments in buildings and many more. 

Joint housing lease options can be short-term or have more flexible conditions, including cleaning services, common areas, furnished spaces, work spaces and other benefits.

5 Benefits of Coliving to Consider

If you’re asking why coliving is so popular, maybe knowing some of its benefits will help you. 

We’ve selected 5 of the most popular reasons that have made coliving a very attractive option for people of all ages:

1. Flexibility

Coliving escapes the traditional rental and hosting systems. The minimum stay time is flexible, unlike the strict policies like those of a hotel.

You can take advantage of it for your vacations, remote work or business trips. It ‘s up to you!

2. Saving

Living in a coliving system is definitely cheaper than other types of housing. Different international studies claim that 30-year-olds spend 45% of their income on rental costs.

In addition, there are other expenses that can be saved through coliving: broker’s fees, buying new furniture, security deposits, etc. Renting a new traditional apartment on your own can be quite a hit to your bank account!

3. Community

Have you ever felt that it was difficult for you to make new friends, socialize with neighbors or create groups? These concerns are often nonexistent in the lives of people who choose coliving as a form of housing.

Many “colivers” find people who are open to sharing meals, hosting movie nights, and talking about each other’s days as a main benefit of this lifestyle. All you have to do is find the best coliving spaces available for you.

4. Convenience

Taking care of household expenses is a task in itself. Many hours are dedicated to the management, administration and payment of taxes, electricity, etc.

The coliving modality allows you to make single payments that include all the daily, weekly or monthly costs involved in housing.

5. Fun

Yes: coliving can be a lot of fun and change people’s lives.

The fact of changing scenery, landscape and environment is fascinating for many people, especially the youngest ones and the famous “digital nomads“.

Not being tied to a single place on the world is a modern opportunity that more and more people, of different ages and professions, are daring to take. Coliving is a great complement to this experience!

Happy Friends Taking Selfie Restaurant Drinking Benefits of Coliving Wooda

What are the pros and cons of coliving?

We’ve already talked a lot about the pros of coliving through its benefits, but each personal experience could find new advantages to this way of life.

For example, someone who is rebuilding their life and starting from scratch will highlight the benefit of being part of a new community as one of the most important ones.

On the other hand, someone who just got promoted in their job and is responsible for having meetings with people from all over the world will probably say that coliving is one of the best tools in their life.

We recommend talking to people who have embraced coviling as a way of life to learn more about its benefits and adapt them to your specific needs.

As for the cons, coliving is definitely not a good option for those seeking solitude, having a stable long-term project in a specific area of ​​the planet, or are looking to expand the comforts of a family home.

It may also not be an attractive option for homeowners looking to invest in remodeling and additions.

In short: there are no general pros and cons of coliving that apply to all people. Every life story is unique and coliving can make it even more extraordinary.

What is the future of coliving?

There are many concepts and types of coliving. To mention just a few of them: entire buildings, apartments that are included within an ecosystem of colivings, or houses in natural surroundings.

But the future of coliving is in the hands of the communities that inhabit it, detecting new needs and more convenient and attractive formats.

It also depends on the owners and the companies that manage them, who have the challenge of exploring new international trends and apply them in their region, taking into consideration the culture of their inhabitants and the needs of their target audience.

If everything you learned about coliving already seemed interesting to you, learn more about Wooda and all the options available to you!

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