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7 Reasons Why Co-Living Is Attractive For Millenials and Gen-Z in India

January 9, 2023 | 5:18 PM By your-space
co living space

 

The concept of co-living has been around for quite some time now. However, this accommodation option has gained even more traction after the Covid-19 pandemic. Many students and working professionals between the ages of 18-35 are constantly looking for affordable, comfortable, safe and facility-rich accommodations. This demographic, also popularly called the ‘urban migrants, ’ prefer living in spaces that have flexible leases and require minimal chores from their end instead of conventional flats in Bangalore or any other metropolitan city. 

Conventional PGs, flats, and hostels come with their share of issues, such as long-term leases, high brokerage fees, gender discrimination, subservient amenities, and more. This is one of the many reasons why students and working professionals looking for spaces that can keep up with their hectic schedules and are as technologically advanced as their generation. Let’s explore some of the other reasons why millennials and gen-z are loving the co-living wave in the country. 

1)Enhanced Amenities 

Co-living spaces, including your-space come packed with top-notch amenities such as home-style meals, housekeeping, fully-furnished rooms, laundry facilities, 24×7 WiFi, recreation centres, and gyms. These are luxuries that are rare in conventional PGs and rental apartments, where tenants are required to do a major portion of housework themselves. However, co-living spaces provide all these amenities inclusive of the monthly rent. The availability of amenities is especially a crucial selection point for the younger generation who have jam-packed schedules either studying or working. 

2)More Flexibility

Rental apartments and old-school hostels have long-term leases that are a minimum of 11 months long. These accommodation options might also bound you with sharing your room due to high rents. Co-living spaces provide you with flexibility in both aspects by providing you with an option to select a shared occupancy room or a single room and also with the option of short-term leases which are just 2-3 months long. So whether you plan to stay in a city for a long term or just for a few months, you can forego the cumbersome process of renting and paying high-security fees and brokerage fees time and again.

3)Tech-Savvy Facilities and Safety

It is no exaggeration to say that millennials and gen-z love their technology. Co-living spaces come well-equipped with technologically advanced features including safety measures such as biometric scanners on gates, CCTV surveillance, and high-speed internet. In contrast to conventional living options, co-living spaces are also safer, a major aspect considered by women in our country when moving out of their homes for work or studies.

4)Recreation Spaces 

Opting for trendy co-living accommodation comes with various perks one of which is the availability of recreational facilities within the property. Your-space has recreation spaces including TV lounges and gyms across various properties so that the residents can enjoy equal parts of work and play. These spaces can be used by everyone at their leisure and also give tenants the to interact with other people living on the property. Thus, co-living spaces including ours provide you with the right mix of privacy and shared time.

5)Networking Opportunities 

Since a particular co-living PG/hostel accommodates a similar demographic, students and working professionals get ample opportunities to network with each other. This aspect is especially helpful for people who are shifting to a new city for the first time and need to become more familiar with it. There are also events and celebrations that take place in co-living spaces to help tenants break the ice and get acquainted with others living on the same property. Hence, it is no surprise that millennials and gen-z are opting for this stay option as it provides them with the perfect balance between privacy and socialising.

6)No Middlemen 

Another feature that makes co-living spaces attractive is that it has an organisation that is lacking in the Indian house rental and paying guest market. Students or professionals can simply hop on the internet and surf a website to find their stay which is in the vicinity of their workspace or university at no additional cost. Once they have decided on the area most suitable for them, they can simply schedule a visit. 

7)Unisex Living Options 

Several co-living spaces have unisex options and are relatively free of gender discrimination. This is also suitable for couples who are looking forward to living together when moving out of their homes. This option is not present across the traditional flats and paying guests’ accommodation and thus is one of the more important reasons why millennials and gen-z love the co-living concept. 

If you are also moving out of your home for studies or work and are trying to figure out if co-living is the best option for you, then you should contact us at your-space. Along with having a PG in Bannerghatta and a PG in Koramangala in Bangalore, we also have several accommodation options across the country.

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