Coliving Explained: Definitions, Benefits, and Challenges

As inflation continues to drive up the cost of living, many single adults are seeking ways to lower their expenses. One option that’s becoming increasingly popular is the coliving apartment. 

What is coliving? It’s an opportunity to cut your living expenses by a significant percentage, but it’s not ideal for everyone. Before you start looking for a new rental, consider what coliving can offer you.

What Is Coliving? 

One of the first things you hear about this living situation is that coliving can save you money. While that’s true, it’s important to understand what the term “coliving” actually means. 

You might be unfamiliar with the type of living environment that coliving offers, so it’s helpful to know what to expect. When you prepare for your first time as a coliving renter, you’ll have a more positive experience.

How is coliving different from traditional rentals? Essentially, you will rent one of several bedrooms in a large apartment. In many rentals, there’s a private bathroom attached to each bedroom. Otherwise, you might have to share one or two full bathrooms with the other renters. You will also share common areas, such as a kitchen and living room.

A building with several coliving apartments will function like any other apartment community. You might have a rental with in-unit laundry machines, or the building might have a laundry room that all renters use. 

Other common areas available to all renters in the building might entail:

• Rooftop lounge
• Clubhouse
• Swimming pool
• Fitness center
• Business center

Each coliving building offers different amenities, so you would benefit from researching a wide range of rentals in advance to find what you’re looking for. 

It’s not uncommon to see rental rates that are slightly higher than you would expect. This is because they include additional services. For instance, your rent will probably cover the cost of: 

• Utilities
• Wi-Fi
• Cable
• Maid services
• Other conveniences

Since this is another area that varies widely depending on the individual property, always ask the property manager what services the rent includes.

A professional property management team oversees every aspect of the apartment community. This helps avoid power struggle issues that might occur in an unmanaged rental with multiple roommates. It also ensures the application process and the community rules are the same for everyone.

Discover the Benefits of Coliving

What is coliving going to offer? The obvious answer to this question is that it alleviates some of the pressure of high living costs. Until you experience the benefits of coliving firsthand, though, you might not realize just how valuable this situation can be for a single adult in NYC. Coliving renters enjoy many other benefits as well, including:

Save on Living Expenses

Though your rent will include several additional services, you’ll still pay less than you would for a traditional one-bedroom apartment in NYC. Since everyone in the rental shares all the costs via rental payments, coliving has a lower upfront price. Most coliving rentals come fully furnished, too, saving you the expense and hassle of buying furniture.

Chase Away Feelings of Isolation

You may live in a city with millions of fellow residents, but NYC can still leave you feeling lonely at times. As you move into a coliving apartment and get to know your roommates, your group can develop a small social network. Feelings of isolation and loneliness are less common when you share a home with others.

Spend Less Time on Household Tasks

When you live alone, cleaning your living spaces takes up a significant portion of your free time. Fortunately, you will spend less time taking care of your home when you have others to pitch in. Your roommates will share the cleaning responsibilities to help everyone minimize the time wasted on menial chores.

Feel Safer and Rely on Better Security

When you live alone, you might be anxious about crime in NYC. Coliving apartments use smart locks and other state-of-the-art home security technology to help you feel and stay safe. 

Your roommates will add to your sense of security as well. Since there will always be activity in a building with multiple renters, criminals won’t feel as bold, and you can turn to your roommates for comfort when you do feel uneasy.

There Are Some Challenges to Coliving

Perhaps the lower costs of coliving seem especially attractive to you. Even so, it’s important to recognize the drawbacks to this living situation. For many first-timers, planning to move into a coliving space involves accepting or adapting to these disadvantages.

Lose Some of Your Privacy

The nature of coliving means losing some level of privacy. You can have difficulty getting alone time when you have roommates sharing common spaces in the rental. The only place that will offer real solitude is your bedroom. If you value the time you spend alone, you might find this living situation to be uncomfortable or unnerving.

Discover the Downside of Culture Shock

NYC is widely known for its diversity and welcoming nature. Even when this is something you want to embrace, it can feel overwhelming to share living spaces with people from different cultures. 

With that in mind, you’ll need the ability to learn and live alongside different lifestyle habits, beliefs, and routines. If you can accept these differences, coliving offers an opportunity to explore diverse cultures.

Focus on Communication

In any situation in which you share living spaces with others, expect conflicts to arise. This requires knowing how to communicate well with others. 

The renters in your unit should develop a system for dealing with conflicts before they get out of hand. You might discover that this disadvantage helps you improve communication skills that you’ll use in your career and personal relationships.

Is Coliving the Right Choice for You?

Entering any new living situation requires some thoughtful research to ensure you find the rental that fits your needs. If you have reviewed the pros and cons of coliving, you might be ready to take the next step. Learn more about NYC coliving by visiting our Roomrs apartment listings.