If you’re a Singapore millennial looking to have a taste of living on your own or a single expat relocating to Singapore, why not try co-living? When we think about the benefits of co-living, we like to think of them in terms of the 5Cs. But first, let’s understand what co-living is all about.
What is co-living?
Co-living involves a group of unrelated people who live together under the same roof in a shared space. Under co-living, each individual rents a room separately – their bedroom is their own private space. However, the tenants also share communal spaces such as the kitchen and dining area. You gather in these communal areas and take the opportunity to mingle and get to know your flatmates.
Let’s now explore the 5Cs of co-living.
1. Community
Co-living is a movement that’s part of the shared economy. Living in a co-living space gives you the opportunity to be part of a community. Those who embrace co-living tend to share the same values. So you’ll be living with like-minded individuals who are open to forging new friendships and embracing new experiences. Being plugged into this network can give you a sense of belonging.
2. Convenience
Co-living offers a convenient living experience. Here’s why. Your living space comes fully furnished so you can live light. Your rent also covers housekeeping services, utilities and wifi, so you don’t have to worry about arranging for all those. You will also have access to a tenant or property manager who will be on call to handle any issues that arise such as maintenance or repairs.
3. Comfort
In Singapore, most co-living spaces are located in modern condo units. This gives you access to comfortable living arrangements. With condo facilities, an air-conditioned bedroom, cozy furnishings and regular cleaning or housekeeping done for you, you have everything you need to enjoy a comfortable lifestyle and an environment which supports your well-being.
4. Cost savings
Co-living is more affordable than renting an entire apartment or condo unit. With co-living, you are only paying for one rented bedroom but you still have access to condo facilities. With cleaning, utilities and wifi thrown in, along with regular maintenance such as aircon servicing, this turns out to be good deal. If you were to rent an entire apartment on your own, not only would you have to pay rent for the entire apartment but you would also have to arrange for all of these additional services on your own.
5. Connectivity
If you rent a room with a co-living operator that has developed a proper tenant communication app, this connectivity will make it easier for you to communicate with your landlord. You have all the information you need at your fingertips in the form of this mobile app. The app may come with built-in functions that allow you to allow you to pay your rent, escalate issues or extend your lease. These tech-enabled functions make co-living an ideal choice for the wired generation.
