What is Shared Living?
As property prices continue to rise as well as day to day living costs from utilities to food, we have to take a serious look at spend – For sure things do not look like they are going to cool down anytime soon. So with such financial demand on us relentlessly we tend to look at alternatives that will help to reduce our weekly spend and especially for those looking to get on to the property market.
“Average house prices in the UK have increased over £100,0000 in just over ten years.”
What is shared living? Simply put, it means a larger shared living (also known as purpose build shared living) area that not only includes apartments with all amenities provided, but also social spaces from kitchens to gyms or even cinemas and working spaces that residents can take advantage of as part of their tenancy. Rental contracts can be as short as three months to twelve months and beyond. The shared spaces allow for you to network and socialise with other people in the building such as by enjoying cooking as a group or having a wine tasting evening which is just some of the benefits of shared living – All your bills are compacted in to one from rental to electricity. There will be security and maintenance along with added options of room cleaning.
The concept which is popular in some countries abroad such as Denmark, is slowly entering the UK scene. It gives consumers an economical and social living accommodation option. Ideal for all ages. Key benefits include:
- Convenience
- Economical
- Modern
- Social
What is Build to Rent? Build to Rent are new build developments designed specifically for renting. They come with a range of perks from longer tenancies to a dedicated on-site manager and purpose built communal spaces, as well as a premium price tag. source hoa.org.uk
Build to rent schemes are what provide the shared living accommodation which is highlighted in the video below:
You will own nothing and be happy is the concern for many especially when they hear the likes of Klaus Schwab telling the world where it will be by 2030, so is shared living gearing us up exactly for that? Home ownership seems to be for the select few these days especially with property price hikes, so is shared living / build to rent the new way forward where selected property owners control the lives, via well designed and functioning internal communities, of the many?
Watching the video above I can certainly see the allure for such living options, tempting indeed and for certain people highly recommended, but will this lead to much lower home ownership?
Here is our interview with Tom Janson from Jansons Property Investors & Developers on the subject of Build to Rent:
I personally see shared living as a great way to live your life, invaluable for those with busy lifestyles or even those wanting a better social life and it seems they have catered for all our day to day living needs. What money you haven’t tied up in a property purchase can be spent on the quality of your lifestyle or invested elsewhere, but are we really ready yet to ditch the owning of those four brick walls?
“Unlike the Germans, who are a nation of renters, the desire to be a homeowner is firmly rooted in the British psyche. In 2003, the proportion of UK households owning their own home reached a peak of almost 71%.” source theconversation
Title image credit: Pixabay
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