05 Ways on How Co-Living Redefined the “Home Away from Home” Concept – The revolution in accommodation!

Co-living is the picture of community and collaboration as opposed to isolation and competition. One of the most tangible benefits of the co-living concept is that it encourages the adoption of a more sustainable lifestyle. Through practising sharing of resources, not only does the lifestyle account for much less affect on the environment as a whole, it also saves a lot of money among a lot of people. As opposed to haggling rent and utilities costs from a roommate end of every month, co-living empowers you to pay only a fixed rate for your key amenities which is directly factored into a monthly rent. Furthermore, the level of transparency on this front is exemplary seeing as it gives you a clear outlook of your overall charges and utility of amenities.

The fact that co—living spaces are extremely flexible with their contract periods makes it a truly attractive way of living for millennials. For those individuals who are starting out with their careers and are worried about having to block out their savings just so they can afford rent or even buy real estate, or for those of you who are probably not ready to settle at one place yet co-living spaces are ideal because long lock-in periods are not a requirement in this case.

It is two completely contrasting words to be included within the same sentence- but it is true about co-living. Just as much as co-living is about living under the same roof as a bunch of other people from numerous walks of life making numerous opportunities for collaborating and community bonding, it is similarly all about much-needed quiet time and privacy. When designing and building co-living buildings the likes of lyf Funan, a renowned complex for co living in Singapore, builders ensure to capture the sense of engagement and privacy extremely well through smart use of space, building efficiency and convenience.

With mobile devices becoming indispensable assets to individuals at present, co-living brands are placing a great deal of emphasis on the incorporation of mobile apps for the operation of living spaces by residents. This ensures seamless communication between the tenant and co-living provider at all times for any assistance that they may need. Furthermore, they also have other security measures in place including cutting edge technology such as biometric and facial recognition as well as the more conventional security measures including 24*7 concierge service and guards and caretakers.

A common misconception about co-living being best suited for the younger populations is perhaps one of the greatest myths in the history of real estate. The truth is that with increased congestion levels within the metropolitan cities, people regardless of their age and state in life are beginning to embrace this approach to sustainable living.