Many professionals who may have moved to a new city and/or new job want to be close to networking opportunities and community. Living arrangements that have access to amenities, are walkable to local hotspots and provide shorter commutes to work are just some of the benefits these urban areas present.
However, because of rising housing costs in and around cities, this ideal lifestyle remains out of reach for many. It’s a well known fact that affordability of urban living plays a huge part in choosing where to live as a young professional, especially considering that only 10% of people aged 26 live alone. In fact, Forty-six percent of renters nationally were cost burdened in 2017.
With the assumption that rental prices only go up as you move closer to the city center, we can see why many young professionals are fighting with the idea of being heavily burdened by cost and creating their ideal lifestyles of convenience and community. In order to save money, many have resorted to living further out of town and in more isolated arrangements. Living alone can be very rewarding, but if you’ve moved to a new city, putting yourself out there and meeting people can be difficult for those working full-time.
If you’re toying with the idea of micro-living, that is, one bedroom or studio apartments for an affordable price, you’re likely to rent places that are 700 sq. feet or smaller; less space for more money. Add in the cost and time associated with signing up for utilities and internet, and you’re looking at a large opportunity cost to weigh for professionals.
When living alone is out of the question due to its high cost, finding roommates provides an even more difficult task. Navigating dozens of forums in the hopes of finding random roommates is both time intensive and unreliable, as many platforms don’t require background checks, etc.
The lack of a network, the smaller space associated with micro-living, longer commutes and the headache of moving can contribute to feeling more isolated and inconvenienced. This is even more painful when you’ve recently left your university network and friend groups where you’re a part of a larger community.
A new city represents a lot of opportunity, but it can be difficult to navigate on your own.
If finding random roommates and/or living far away from all the action isn’t the best way to solve the problems of burdening costs, perhaps a co-living community can be.
In a co-living home, the ability to lease a private room remains unchanged. Members still have personal space in addition to the shared common spaces. With more bedrooms and square footage overall, floor plans open up and costs go down comparable to micro-living. Co-living members can upgrade their living spaces with more room and newly renovated amenities, while also being closer to the hotspots in town for a fraction of the price of living alone. Co-living presents a great way to combat rising rental costs, which are added stressors for professionals who are strapped for cash.
Commuting to work won’t take as much time, and that feeling of isolation can fade away knowing that you and your roommates are part of a larger community invested in the shared purpose of co-living. In addition, because you meet your roommates in a safe and trustworthy manner ahead of time on the platform, the time-intensive process of searching and matching are virtually non-existent.
Lastly, co-living arrangements strip away the pain of searching for and setting up utilities, insurance and furnishings. It’s a win-win for even the most cost or time-burdened professionals.
If you’ve never previously considered living with roommates, it might be time to take a look at co-living communities. They are more flexible than standard living arrangements and offer a simpler way of finding the right housing with the right roommates at the time best suited for you (sort of a ~goldilocks~ trifecta).
If you’re interested in learning more about co-living, learn more here: alcoverooms.com/about