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Updated by Joanna James on May 02, 2024
Headline for 5 Things to Know About Co-living – An Innovative and Attractive Living Option
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Joanna James Joanna James
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5 Things to Know About Co-living – An Innovative and Attractive Living Option

The concept of co-living is steadily gaining popularity but there will be several things you should know before choosing it, such as what it is, how it works, what to expect, its benefits and so on.

1

What is co-living?

Co-living happens to be a shortened phrase for 'community living'; it is a concept where residents live together, often sharing common spaces like a kitchen, dining area, bathroom or workspaces. Co-living will provide you with the opportunity to reside within a tightly-knit community whilst also making it possible for you to save on living costs. It is also about sharing experiences and knowledge since residents often share a job, passion, goal, hobby or perhaps an ideology. Co-living spaces tend to bring together individuals with similar interests such as students, digital nomads, freelancers, models, fashion designers, engineers, artists and more.

2

How co-living works

Co-living could take place in different settings, such as in an apartment, house, a specially-designed property or even possibly, a penthouse. The system underlying co-living is simple; residents pay a certain amount to live here and make use of the communal spaces and other available facilities. On the other hand, the operator of the co-living space has the responsibility of establishing charges, organising bills, monitoring the cleaning services, taking care of arranging orientations and so on. Generally, these spaces feature flexible leasing methods so that residents may choose to stay month by month or even possibly week by week.

3

What to expect from co-living

Co-living will provide you with the opportunity to establish career networks whilst also saving money on accommodation and workspace costs. It will provide convenience whilst enabling you to be part of a shared community of residents. Co-living will also typically provide you with the chance to experience enjoyable community events and activities. There will be plenty of social involvement with parties, shared functions and other communal interaction organised to enable residents to make the most of their experience. However, it will still be possible for you to have your own private bedroom and workspace if you so desire.

4

Benefits of co-living

Co-living will enable you to experience several significant benefits. You are likely to find that it is less expensive than renting a living space independently. It will also provide you with the chance to get to know and build relationships with individuals from varied backgrounds and cultures. There will be a strong feeling of being part of a friendly community. A co-living space in Singapore such as the pleasingly located lyf Funan brings together both locals and foreigners and fosters collaboration and cooperation; this will be an attractive accommodation option for international travellers, enabling them to experience the authentic local culture too.

5

Other advantages of co-living

With co-living, you will find that aspects such as housekeeping, maintenance, paying utility bills and renewing of lease contracts will be made easy. It will also be possible to divide chores amongst roommates. It will also make it possible for you to work conveniently and productively from your living space itself since amenities like Wi-Fi are usually provided. In a co-living space, you will have the opportunity to work efficiently without worrying about other distractions. You will never feel lonely either as you always have the chance to interact with your fellow residents.