The 21st century that was hitherto filled with anticipation and predictions, has reached a point where the unexpected twists brought…
The 21st century that was hitherto filled with anticipation and predictions, has reached a point where the unexpected twists brought by the millennial generation has changed everything. The “Anywhere, Anytime” approaches in everything from shopping purchases till the lifestyle, has changed the way the world works. This has made the minds choose liberation over time and location in every step of day-to-day life, where anyone could reach out to their need right from where they are, almost instantly. This trait brought by the digital world marks the earliest traceable beginning of the evolution of ‘millennial’ term in urban dictionaries.
A significance difference from the Generation X has brought the emergence of Generation Y that has got a newfound liberty with everything being made digital and instant. This led to the evolution of the generation into ‘Digital Nomads’ whose digital world demanded their presence more than the actual world, ultimately getting into a nomad-like life where every individual is disconnected from surrounding and subjectively independent. This independence and greater dependence on the ‘digital modes’ that give them everything from a food’s delivery to a bank statement right where they are, has made the population get used to the freedom of choice in every step.
With the first-heard co-living concept being traced back to 2015, the trend started in the major cities of U.S. as the spaces where private bedrooms with common living, kitchen etc. coexisted and evolved into what is known as a co-living space today. The community vibe was brought in by celebrations and events that actively engaged the inmates and created a bond. Events ranging from art sessions till parties took place in these spaces. This wholesome living experience coupled with comfort, didn’t fail to thrill the generation.
Coliving is nothing new. It has been accepted across time from converting regular spaces to designing an actual coliving environment.
The vision of converting the generic spaces into a curated co-living environment embarked with the attempts from various groups that observed the increasing needs of the millennial world.
1) Home rental networks that extended their diversity by evolving into creating co-living spaces.
2) Global co-living investors who venture in Indian market with franchise arrangements or partnerships with the native operators/owners.
3) Owners of PGs ad other room-sharing modes recognising the pros of co-living and entering into ventures and partnerships with established operators.
Across history, it is seen that more than first hand properties, 2nd hand properties such as guest houses, hotels, salons etc. were converted into co-living spaces to prevent space wastage due to functions and greater economic benefits. It has also been observed that when these are redesigned specific to the new user group, the revenue generated is greater.
While retaining the emotional attachment and privacy levels as in a home, co-living brings the possibility of uber living in a budget- The ideal living option in the cities of today.
The temporary population of today finds un-sacrificed daily essentials of millennial life such as TV, Refrigerator etc., needless to have the hassle of relocating it with accompanied transportation charges. The restricted choices to micro housing and alternate rental models no more come with the restrictions of facilities offered. In this 21st century when life and peace is no more determined by ‘home time’, the time spent outdoors takes a fair share. This balance in outdoor-indoor time has brought down the need to invest more on indoor time (i.e.) the time at home. A great lookout to cut down on the dwelling costs and spend it on the outdoor activities instead is seen.
A co-living space is a fusion of these needs- An economic option that also attempts to replicate the social interaction observed in outdoor activities such as gatherings, events and more. Furthermore, it encourages interaction not just between the inhabitants, but between the residents of the same operator living in different locations or communities through the online modes – Engaging social media platforms. The co-living operators use the power of technology in creating mixed communities that focus on the psychological mind-set of the newcomers to the cities (ie.) the inmates, by maintaining a secure environment, thereby maintaining a healthy environment where the newbie wouldn’t be alienated.
Explore more on how HyLiv meets every millennial’s need.
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