- Millennials are paying thousands of dollars a month for maid service and instant friends in modern 'hacker houses'
- 'Co-living': the end of urban loneliness – or cynical corporate dormitories?
As someone who is out-of-state and working in the big city, the biggest expenses is hands-down rental.
The problem 🔍
- The cost of living in major cities is rising faster than wages which at the end of the day, doesn't leave much left for savings and investments
- Most of us just rent a room and that room becomes our office, study area, kitchen, gym. Basically, we are facing 4 walls after work or the whole day if you're working from home - this could have a severe impact on our mental well-being
Enter the solution 💡: Co-Living
Co-Living is a communal housing concept where people live under one roof and pool resources together instead of renting a house individually.
It's where WeWork meets AirBnB. If there are developers out there building dorms for university students, how come no one ever thought of building something similar for young working professionals. Let's be honest, all we really need is a room to sleep and a productive place to do our work.
Is it like a hostel? No. The biggest difference is co-living promotes collaboration and creativity among like-minded residents whereas hostels are mainly for people who are traveling.
The Opportunities 🔨
- Start a co-living space. You can easily attract a lot of young professionals with cheap rents and offer them various subscription services like coffee, food and laundry. In this day and age, people will often opt for convenience over price.
- There's no doubt in my mind that co-living will be a thing in the near future. Hence, you could create the iBilik for co-living spaces, matching people with the same interest and preferred location.
While the concept of co-living isn't new, with the increasing cost of living, smaller living spaces and the need to work from home, the future of living seems to be more community-orientated, productivity-focused and more affordable through shared spaces.
Imagine all of the possibilities if a bunch of like-minded people staying under one roof. Who knows, you might even meet your future co-founders.