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With more developments hopping on the co-living set-up especially in the metro, it is worth looking at the strengths and advantages of this growing trend.
Co-living could be the future of living spaces in the country, but most especially in the metro. The co-living trend, while already popular in places like the US and Europe, as well as in some parts of Asia, has not quite taken off yet in the Philippines. However, top real estate developers such as Ayala Land are quick to move on it, indicating that perhaps more developers could soon follow suit and go in the same direction. Said to have begun in California’s tech hub, Silicon Valley, where young IT professionals flock, co-living became an ideal set-up for these “digital nomads,” moving at their own pace and still being close to their place of work.
Co-living has the potential to revolutionize living arrangements, specifically for young professionals just starting to gain their footing in the urban setting. In Metro Manila, co-living could potentially help to alleviate already problematic situations for workers and professionals, such as daily commute and the high cost of living.
Soon enough, this trend could be an immediate reality in the country, re-shaping the younger generation of the workforce. While it is still on the rise, its strengths and advantages are definitely worth looking into:
Division of Cost
For young professionals, probably the first consideration when coming to work in the metro is the cost of living. Especially for fresh graduates or those with little work experience, it becomes imperative to land a job that can offset the high cost of living in the metro. In this economy, it is simply too expensive to live on your own. A large chunk of the expenses goes to lodging—and there are not many affordable options near business districts. This is an obvious advantage with co-living, as the typical cost for one unit gets split into two, or three, or four persons. Granted, the trade-off lies in settling for smaller spaces, but considering the reduction in what you would normally have to pay, co-living offers an ideal solution.
Rent may already take up a big portion of your paycheck, but then there’s also electricity, water, and other bills. It is not as huge a burden on you, with one or more other people to split the costs with. Co-living whether with a few friends, officemates, or strangers, is a functional set-up to ensure you get the benefits of living in a condo, with a fraction of the cost. Just another added bonus is that you get to gain friends and housemates along the way.
Proximity to Work
The state of transportation in the country is an issue that needs no introduction. Considering the economy these days, it would be unsurprising if the costs of transportation, whether public or private, continue to soar in the next few years. The prices of gas, and bus, jeepney, and cab fares, is one thing to consider. The traffic is another thing entirely. Manila traffic has been described all around the Internet as the worst things—hellish, traumatic, impossible. It is so bad that it has also become a major consideration for the working class. And with jobs heavily concentrated in Metro Manila, this problem is just one you don’t simply tiptoe around. True enough, it can be a lose-lose situation: you either spend more on a place that is close to your work, or live in a more affordable area with some distance from work, requiring you to spend more on transportation.
Co-living spaces would help solve this as most developments are likely to be built around major business districts, where the majority of young professionals are concentrated. It would thus be easier to secure a living space which you can actually afford that would not require hours of travel back and forth every day.
Accessibility
The popularity of co-living arrangements in the Silicon Valley coincided with the popularity of working from home, as most tech professionals largely worked on their computers anyway, needing only the Internet—thus earning the moniker, “digital nomads.”
Digital nomads are also widespread in the Philippines, as the remote work arrangement increasingly, albeit slowly, becomes normalized. Currently, the option exists more as a helpful measure rather than an alternative—while you can certainly work from home some days, you would still need to report to the office on most. However, if your home is located a good distance from your workplace, thus requiring you to deal with long hours of commute, isn’t it true that you might as well just have reported to the office?
It is also undeniable that accessibility to important establishments, such as supermarkets, restaurants, recreation and lifestyle hubs, remains a big factor in determining where to live these days. Co-living spaces offer a good compromise to these concerns.
Work-Life Balance
Work-life balance is something that more people should value. With our fast-paced and busy lifestyles, work-life balance can be easily taken for granted. But it must be taken into consideration to avoid burnout and for overall wellness. Co-living spaces, given the advantages mentioned above, are more likely to positively influence life by helping you achieve a balance between your time for recreation, rest, and work. It would actually allow you rest on your days off, and you would be able to accomplish more on your work-from-home days. By drastically reducing your commute time, your expenditures, and your stress, co-living spaces could actually be the solution to the anxieties that come with adulting.
Are co-living spaces the next big thing in urban living, and is it for you? Whether you look at it as a trend that’s soon to fade, or a handy compromise to your situation, considering the advantages above, it is worth exploring. It is clear that young professionals these days, while pressed to look for stable work and a healthy working environment, also crave a quality of life which their professional lives make hard to attain—because of factors which are really beyond their control. Young professionals and all workers deserve this quality of life. Co-living spaces may not fix the situation entirely, but perhaps it is a step in the right direction.
Sources: Manila Bulletin, Manila Standard
