Why Co-Living Is A Great Option in London

In recent times, the co-living trend has taken off, with more people than ever finding it a cheaper and more comfortable way in which to live. Particularly in big cities, co-living has become commonplace, as it has so many advantages. Particularly in the UK’s major cities like London, Birmingham, Manchester and others, co-living spaces are popping up at a rapid pace. 

Young professionals and university graduates, who are only just beginning their career journey often find it tougher than most to live in urban areas. The cost of living combined with the cost of renting somewhere to live can be more than their starting salary alone. This in turn means that thousands of young professionals miss out on both the professional opportunities and the lifestyle that come with living in a busy urban area such as a city centre.

Co-living is one of the solutions to this problem and in an area such as London where there is more property development than ever and in which there is so much opportunity for so many, enabling young professionals to live in the city helps many people progress their businesses and careers.

So why has co-living become so popular and what are the advantages of opting to live in a co-living space in London?

The Benefits of Co-Living in London

London is one of the busiest cities in the world, offering more opportunity than anywhere else in the UK for most professions and career paths. It is therefore one of the most desirable parts of the UK to live in. For young professionals, it is the best place to combine a fast-growing career with a superb nightlife and social scene. When it comes to co-living, London in particular offers a perfect combination.

Living in a Community

Opting to live in a co-living space means you’ll be moving into a prebuilt community of like-minded and similar people. Because co-living means sharing communal areas with your housemates, you will be surrounded by so many new friends. This is one of the major advantages for people moving to London for the first time. 

Moving to a big city can feel very daunting and if you don’t have a group of friends already in your area of London it can feel very isolating. Co-living offers a great solution to this problem, giving you the perfect blend of private space and communal space and allowing you to socialise whenever you please.

Co-Living Can be Beneficial for Young People’s Mental Health

Isolation and loneliness have become a national epidemic, with adults under 24 often being the loneliest age group. This is the same group that are very likely to move into co-living communities and spaces, being young professionals at the start of exciting careers. With so many feeling lonely, particularly in a big city like London, co-living could be a large part of a solution to ending this problem in London and the UK. 

Many co-living spaces have organised community events on a regular basis, allowing their residents to socialise and relax without the pressure of having to actually organising an event. The beauty of co-living is that there’s always somebody about to talk to, but no pressure to socialise as you have your own private space too.

How Cost-Effective is Co-Living in London?

Living in London can be incredibly expensive, especially if you’re hoping to live in and around Central London. Many of London’s co-living spaces can be found in the heart of London as well as in very desirable locations for professionals which may include:

• Shoreditch and Hoxton
• Soho
• The City of London

Co-living spaces in London offer an affordable housing solution to those willing to share their communal spaces. Compared to to living alone, co-living spaces offer a much cheaper way of living. 

As well as being far cheaper than many other options on the market, co-living spaces will also be maintained to a very high standard. Most co-living spaces are custom built or even specifically remodelled for the purpose of acting as a co-living space in a city like London, so you will often find them very comfortable and modern spaces.

Cheaper London Living with Co-Living

With co-living being so much cheaper than comparable alternatives, particularly in an expensive city like London, residents are able to use the money they save for whatever they please. 

London has such a wealth of experiences to explore and having more disposable income will allow you to get the most out of your time in the beautiful city. You can for example, use some of the money you save by co-living to expand your social circle and go out with friends to restaurants and bars, which London has lots of.

On the other hand, you may be working hard in order to save and in that case, the money saved will go towards something you are saving for. Either way, co-living means less money on rent and more money on what matters to you and what you enjoy. Whether you are hoping to save up for your own property or looking to pay off your student debts, choosing a co-living space could mean reaching your financial goals sooner rather than later, all while being able to live in London.