Planning on moving cross country? Maybe you’re motivated by the allure of an unfamiliar city, that fresh-start feeling you get from immersing yourself within a new community, or the savings potential that often comes from a shared living space. Before moving, you have to decide your living arrangement. Which living space is better? Should you go for a loft vs apartment?
Whatever’s sparking your desire for a change of pace or place, coliving could be the key to making that change more feasible. In the real estate industry, a coliving space is basically a shared living space or communal living space.
Economically savvy, environmentally friendly, and socially sustainable, the future of coliving is bright—to say the least. To help you pair action with idea, we’re breaking down four surprising ways coliving is making the world a better place, one home at a time.
#1 Coliving promotes fiscal responsibility
With homeownership out of reach for many Americans in big cities, renting has long been a feasible alternative. But in the current overheated housing market, even renting in small towns and rural areas can be a heavy economic burden to bear.1
As a response to lofty housing and rental costs, coliving provides all the comforts of a private home while reducing the monthly financial demand through shared spaces and amenities.
Plus, some coliving arrangements even include the cost of things like:
- Washer and dryer units
- Cleaning services
- Household supplies
So, if balancing your budget and watching your wallet’s waistline are a priority for you, coliving could be one of the best choices to make for your financial future.
#2 Coliving can positively impact the environment
One thing’s for sure: a healthy future planet requires a sustainable present. That said, research has shown that communal living supports sustainability in urban environments by:2
- Encouraging reduced consumption through sharing – Simply put, when resources are shared, it slows down the demand for more. Whether you split the use of household appliances or cut down on food waste by cooking a weekly meal or two with your suitemate, coliving opens up all sorts of doors for eco-conscious lifestyle changes to be made.
- Lowering carbon emissions – In many cases, the structural design of coliving spaces results in a more planety-friendly home than an individual, detached home could. That’s because there are fewer walls exposed to the outdoor elements, reducing the need to compensate for heat loss. Combine that with a few mindful, energy-saving habits, and you’ve got a comfortable living space that serves the earth in a big way.3
#3 Coliving builds community
Perhaps one of the most appealing aspects regarding the future of coliving is that it has the power to build social awareness and community. With flexible move-in dates and affordable costs, coliving becomes an attractive haven for people of all backgrounds to enjoy.
With such a vibrant mix of residents, it allows residents to meet new people from places near and far, create diverse social connections, and foster friendships in new-to-you places.
Plus, when you call Common home, you can tap into our exclusive app for residents and unlock access to an array of community-building opportunities including:
- Social gatherings like group brunches and archery classes
- Home-based messaging to chat instantly with suitemates and neighbors
- Discounts and deals redeemable at local businesses for more affordable socializing
#4 Coliving is for everyone
While recent college graduates and young professionals might be particularly enthused by the idea of uncovering a new city while maintaining a budget-conscious lifestyle, coliving isn’t just attainable—or desirable—for a one-dimensional audience.
In fact, the versatility of coliving accommodations can provide a welcoming atmosphere for renters with a wide variety of living needs. Plus, many of today’s coliving spaces span the spectrum from rural to urban and simple to chic.
For example, here are just a few of the different types of renters Common works to accommodate:
- Couples – If you’re setting foot in a new city alongside your partner in crime, you can do so in comfort by opting for a private studio or a one- or two-bedroom home. Another affordable option for duos is to settle into a couples-friendly bedroom in a coliving suite—complete with a queen-sized bed and ensuite bathroom.
- Pet owners – Sometimes, your furry companion wants to come along for the ride. In this case, Common offers private apartments suitable for paw parents and four-legged friends alike.
- Travelers – If settling in one place for an extended period gives you the jitters, satisfy your travel itch by transferring from place to place within the Common community. With housing options in cities like San Diego, New York, and Chicago, the world is your oyster.
Essentially, no matter who you are or what you’re looking for, we believe there’s plenty of room for everyone in the future—and present—of coliving.
Set your sights on a brighter future with Common
At Common, we provide beautiful spaces; you make them home. From coliving suites to two-bedroom abodes, every one of our homes comes with private bedrooms furnished with a nightstand, lamp, and a cozy bed.
But we all know that a happy home takes more than a comfy bed.
Our spaces come fully furnished with modern, inviting decor. Plus, you’ll find high-end kitchens with top appliances, gleaming dishware, and other essentials like fast WiFi and regular cleaning services.
Beyond the tangibles, our homes are built for a community with welcoming common spaces, open invitations to fun events, and access to members across the country.
See for yourself what makes a Common home special and how you fit into our community.
- Forbes. Why Are Houses So Expensive? https://www.forbes.com/advisor/mortgages/why-houses-are-expensive/
- Nature. The sharing economy promotes sustainable societies. https://www.nature.com/articles/s41467-019-09260-4
- Medium. Saving the environment one coliving space at a time. https://medium.com/@comunitalife/saving-the-environment-one-coliving-space-at-a-time-ab9e1ef51355