Looking for a new residence can be overwhelming. Calculating how much you can reasonably expend on rent, selecting a location, and finding roommates all require time and energy. As a result, coliving has become a widespread option to conventional lodging options for tenants looking to conserve funds and build community. If you've heard about co-living in Spartanburg, SC, and wonder if it might be right for you, here are some of the most significant benefits.
Rent is the most significant monthly expense for people under 30, who spend almost 50% of their earnings on apartment leases. So if you're interested in saving cash, living with roommates is one of the best ways to seriously reduce your spending. But rent isn't the only item that makes living independently costly. When you add in security deposits, agent's fees, and the price of purchasing new furnishings and kitchen supplies, leasing a new apartment independently can be quite a blow to your bank account. However, in coliving spaces, rent is cheaper than a studio apartment, and you won't have to purchase your own sofa or internet router.
Once you've signed your lease on a new dwelling, your work isn't finished: You'll have to arrange utilities and organize monthly costs for necessities like internet, gas, and electricity; embellish your new home to feel like residence; and employ a housekeeper (and arrange duties with roommates) to keep things looking clean. In addition, you'll have to search for a substitute if a roommate chooses to move out. Household management takes time. In a coliving space, you don't need to worry about home management, so you can expend more time on what you love doing.
Whether you're transferring to a brand new city or occupied with work, making friends as a grown-up can be challenging. According to one survey, many Millennials report frequently or constantly feeling lonesome. Coliving tries to solve that issue by offering a built-in assembly of people who are receptive to sharing meals, hosting film nights, and conversing about each other's days. With confidential bedrooms and shared living spaces, coliving quarters allow you to mingle when you want to and be isolated when you don't.
Coliving ends some of the economic anxiety connected to living with others. By offering private room leases (instead of group leases with individuals you only recently met), coliving eradicates the pressure around roommates paying rent on time or moving out prematurely. You also won't need to pay for utilities up front and then pester your housemates to refund you since utilities and rent are incorporated in one monthly fee. Ultimately, you won't ever be responsible for finding a subletter for your roommate.
If you're not prepared to commit to a long-term lease (not to mention purchasing furniture and home appliances for a dwelling you may only live in for a year), coliving presents a versatile option. This is particularly useful if you're transferring to a new city and want to investigate different communities before settling down for the long term. And when you do depart, you don't have to fret about compromising your housemates' residency circumstances (or furnishings!), since each tenant is on their own lease.