As the millennial generation continues to grow and enter the adult world, trends in housing are changing all over the world. With the ever increasing cost of living, millennials are constantly searching for affordable housing options, as they prepare to enter the secular world and leave the nests they were raised in. Co-living, a recent housing trend in which individuals live in shared spaces has risen in popularity all over the world as it has been proven to provide an affordable housing option for those who need it.
In addition to American based companies that offer co-living options around the country, companies like Roam offer an international network of co-living spaces. Roam offers co-living housing in London, Tokyo, Miami, and Bali. Along with providing affordable and comfortable living accommodations, Roam aids to provide productivity, event, meeting, and class spaces. By doing this, they are able to support a large and diverse community of people who share similar professional and personal goals.
Co-housing isn’t just for Millennials. Real estate developers have also been aiming to provide affordable co-living options for individuals of any age. Pollard Thomas Edwards has created a co-housing project in the UK for women over the age of 50. This 25 apartment complex is set in a former convent and is the first co-housing project in the UK that is designated for people over a certain age. While many co-housing companies pride themselves on providing a space for working millennials,this particular project is a step in the right direction as its purpose is to create a diverse community of people with various backgrounds.
Why is co-living such a great option for individuals looking for affordable housing? As the cost of living is on the rise and millennials and recent college graduates are having difficulty keeping up a virtually unaffordable lifestyle, co-living eases the stress of finding a decent place to live near work and in a neighborhood where they can experience a variety of cultures. On top of this, co-living brings a variety of people from different cultures and backgrounds together that share professional and/or personal goals; creating a positive living experience for everyone.
Although co-living is a relatively new housing trend, it’s on the rise in the United States as well as internationally. Companies and individual developers are striving to provide affordable housing not just for millennials, but for individuals of all ages. This new and popular trend will help ease the ever increasing cost of living as well as introduce like-minded people to each other to create a peaceful and productive living environment.