Articles
February 10, 2024

The Pros and Cons of Coliving

Co-living is gradually becoming a popular housing arrangement in most parts of the world because more people are looking for better options.

The Pros and Cons of Coliving

Co-living is gradually becoming a popular housing arrangement in most parts of the world because more people are looking for better and cheaper housing options. 

Nigeria is home to over 200 million people (220,958,083 as of May 29, 2023). Many young adults would give anything for affordable and comfortable accommodation in their desired location. Finding the 'dream' house in Nigeria can be a chore, especially in expensive cities like Lagos, Abuja, etc. With this struggle in mind, co-living comes into the picture.

Co-living is a housing option that allows people to rent a room but share common areas with others – living rooms, kitchens, laundry, etc. The idea is for four to five adults to come together and live in the same space. It combines traditional housing with the community of a shared apartment. In a broad sense, co-living involves sharing accommodation with one or more people. It could be sharing a room (roommates) or an apartment (flatmates). The downside of sharing a room is zero to no privacy.

Although the term 'co-living' might be foreign, the concept itself is not. You must have heard words such as 'roommate,' 'flatmate,' 'shared accommodation,' and the like. 

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The Pros of Co-Living

What makes this such a great idea? There are many benefits, but let us take a look at three.

Affordability

The first benefit that should come to mind with sharing an apartment with people is that it is cheaper. It is significantly less expensive to get an apartment with some people. This pro is more than just the rent; each resident would share other expenses equally. 

Community

A 2019 survey shows that 30% of millennials feel lonely most of the time. Living with flatmates means that you won't be living alone.

You have people around you when you want to socialize. That is not the best part; you can be alone when you want to be. Remember, you have your room all to yourself.

No Financial Liability

Co-living eliminates the financial worry of living with flatmates because of the individual room lease rather than group leasing.

A typical flatmate situation involves you and your flatmates contributing and paying for the apartment together. But with co-living, each resident pays for their room themselves.

The issue of harassing a flatmate for rent reimbursement or not being in a fix if a flatmate was to move out is also reduced or eliminated.

The Cons of Co-Living

Just like everything else, shared accommodation also has its cons. Let's dive in:

Less Privacy

One of the significant co-living cons is reduced privacy. Yes, you get to have your room, but if you enjoy moving around the sitting room in your birthday suit, you might need more than shared accommodation. 

Living With Strangers

Another bias people might have about co-living might be living with strangers. This might mean awkward conversations, arguments, or situations with your flatmates.

These might last for a while, or it might be the norm of the day, especially since you won't always be able to hand-pick your flatmates.

Limited Control

When you choose to live in the same room with others, you naturally have less control over some home factors, such as house levels or guest policies.

If you are someone who loves to have control over your living environment, this might be a huge problem. But agreeing to some laid-out rules with your flatmates can help.