Five Reasons Why Millennials Should Opt For a Co-living Space
Millennials, today, have found themselves traveling from one place to the other in search of better opportunities and better experiences. Assets have come down on priority compared to the experiences one can buy with money. Unlike the past generation, love spending their time on their passions, dreams, skill upgrades, and surrounded by like-minded folks who share the same tastes as theirs. The concept of co-living started in China and European countries (wherever there is more migration to cities) and has started gaining a fast momentum in India too. There are more than 5 million people living in various co-living spaces across the big cities.
The reason below explains why millennials should opt for co-living spaces.
- Co-living Spaces Are easy On Your Pocket
Moving to a new city, people cannot afford to buy a house in a short span of time and so renting is the easiest option for them. Even in renting, there are large deposits and furnishing costs in the normal structure of renting. Co-living spaces provide fully furnished living rooms, bedrooms, kitchen, etc. As far as the deposit is concerned it is hardly 1 or 2 months, as compared to the deposit of 6-10 months when renting a flat. Together with the opportunity to stay with larger communities, people can save on expenses such as electricity bills, maintenance & repairs, Wi-Fi & DTH charges, etc. - given that a co-living provider gets bulk deals and is able to pass on the discount to the consumer. In a typical co-living facility, one can manage their entire expense of rent, housekeeping, food, Wi-Fi, DTH, repairs etc. in 8-12K. Wherein individually, it can go up to 15-20K.
- Hassle-free Living Experience
In our busy lives, time is the most precious asset we have these days. We can use that for great experiences, skill upgrade, extra work, fun, movies, Netflix and sometimes doing nothing - just chilling. Thus, co-living makes the above things much easier and hassle-free for the millennials. Co-living spaces are fully managed with housekeeping, food, Wi-Fi, DTH, repairs taken care of. If anything goes out of the line, all you need to do is raise your concern online and your issue will be solved within a short time. The co-living management takes care of your day to day chores, so that you can spend time on the things you want to do and not the ones you have to do.
- You Get to be Part of a Community
Millennials are often related as free birds who love to explore the opportunities and scale the new horizons. Co-living spaces are the perfect for this, where millennials get the chance to live with communities and celebrate life. They have the option of being together with like-minded folks and bond over things like celebrations, food, birthdays, games and so on. It is always good to have meaningful conversations with people who share the same ideas as yours, rather than being only attached to the virtual world.
- The Taste of Freedom & Security
Co-living spaces provide millennials with easy-come and easy-go options. They do not believe in lock-ins understanding the fact that millennials can become globetrotters at any point in time. Another important factor in why a millennial should opt for co-living is because of the security. Your security is not about the person standing at the gates.
The security of any millennial is the sense of well-being. Co-living spaces come with 24x7 security and CCTV surveillance. They keep a close eye on what is happening inside the property. Background verification of residents, a third-party screening process and biometric access to property are some of the important factors to highlight why a millennial should choose a co-living space.
Co-living spaces are a lot more organized and transparent than any other accommodations or renting options, making it safer for the millennials.
The moment you enter a co-living space, you can feel the attachment - it is a non-judgemental community who does not require information on where you come from. The sense of discrimination is replaced by the sense of acceptance regardless of your ethnicity, orientation, etc. You are welcomed by the people without hesitation.
With that being said, many startups have come up with this concept of co-living that appeals to the young generation and it has worked out very well for them. Off late, co-living has become a trending concept in the Indian real estate market.
Nota original: https://www.entrepreneur.com/article/316281