Work, Live, Thrive

The post-Covid era led to stark changes in every individual’s work-life balance. While adapting to the ‘new normal’, trends like remote work, digital

The post-Covid era led to stark changes in every individual’s work-life balance. While adapting to the ‘new normal’, trends like remote work, digital nomadism, and communal housing started booming, giving rise to Co-living and Co-working spaces. People are shifting towards a new paradigm offering a holistic solution for connectivity and collaboration problems. The hybridization of Co-living and Co-working meets the new needs of today’s society.

Co-working Space

Co-working is a work arrangement where individuals from different professions in multiple industries share a common workspace. It provides a collaborative, dynamic, and flexible working environment for entrepreneurs, freelancers, and remote workers. This is one of the best setups to connect with like-minded professionals, expand your network, and explore new business opportunities. 

Some of the major advantages of working in Co-working spaces are –

  • Professional Networking – Co-working is one of the best platforms for professional networking opportunities. Individuals from different companies can connect for valuable discussions and collaborations.
  • Resources and amenities – Co-working spaces provide access to shared amenities and resources like cafeteria, conference rooms, office equipment, etc.
  • Heightened productivity – The dynamic and collaborative environment in Co-working spaces fosters creativity, productivity, and motivation to stay updated.
Co-working spaces have a prominent global presence, each following its own defined local rules and regulations. For instance, in the USA, apart from abiding with federal and state employment regulations and laws, they must also comply with local regulations like the Occupational Health and Safety Act, noise, pet, liability, security, and visitor policies.

Co-working spaces in Australia follow land-use permission controls while complying with federal and state employment laws. They follow the workplace etiquette and safety policy. Those in Singapore are very concerned about following legal considerations like tenant deposits and obligations, maintenance responsibilities, security deposits, and others. Co-working spaces in Bangkok require proper documentation regarding work permits and tax certification.

Co-living Space

Co-living or communal living is a contemporary shared accommodation concept popular among millennials and remote workers for flexibility and freedom. It refers to a living arrangement like an apartment or house, where a group of people live together and share resources while continuing with their respective professional ventures. Co-living helps reduce accommodation expenditure and provide a sense of belonging and community. 

Here, there are separate bedrooms for each individual and common living room, kitchen and bathrooms. It has common spaces to initiate interaction and build connections. This isn’t a very popular concept till now, but it’s one of the best solutions to the modern urban housing problems. People can share their accommodation expenditures, make new connections, and get rid of loneliness.

 

Some of the major advantages of Co-living are –

  • Build social connections – Co-living allows people to develop social connections by interacting and living together. It creates a sense of belonging and camaraderie, which is otherwise difficult to form in a traditional living setup.
  • Shared accommodation expenses – It is the perfect choice for those looking for cost-effective accommodation. Co-living reduces the living expenses by dividing the cost of rent, utilities, etc.
  • Personal and professional growth – Co-living allows individuals belonging to different countries and backgrounds to live together to form valuable connections and long-term relationships. 

Explore Different Cultures

Co-working spaces become windows into local professional networks, while co-living fosters a sense of shared belonging. It allows people to experience a wider worldview of opportunities for personal development and professional growth. Co-places help professionals interact, network, and grow on a single platform, while experiencing each other’s local cuisines and cultures. 

Co-living may be a great option for those looking for a more affordable and social way of living. At the same time, co-working may be a better option for those looking for a more dynamic and flexible working environment. Both options are great and can be used at the same time.

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