If you’ve been paying attention to the Australian housing market, chances are good that you are familiar with the increasing popularity of tiny home living. What began as a movement for people who wanted to forego the traditional single-family house and "lifetime" mortgage that goes with it has taken off and crossed over into the urban rental market.
Affordable Shared Home Living with purposely designed private living spaces, which may be anywhere between 10m2 to 35m2, are a growing sector of the rental market for modern Australian living.
Modern Share Home with private living spaces at an affordable price are a big hit with all types of people who prioritise having their own secure private retreat space at a reasonable price in a convenient location to where they need to be.
Let’s look at four reasons why the Affordable Shared Home Living trend is showing no signs of slowing down.
1. Location, Location, Location
The cost of living in a city today has become very expensive. So much so that traditional apartment leases have skyrocketed in price and may not be feasible for people just starting out, or going through a major upheaval in life circumstances, or who want to save for a home of their own.
Affordable Shared Living can be found in most major cities around the world. These Affordable Shared Living spaces may have extra features over a standard bedroom in a shared home – some come with high ceilings or oversized windows to give the illusion of more room.
They may have shared public amenities such as well-equipped living rooms, outdoor covered spaces, or lounges where residents can congregate. These Affordable Shared Living opportunities are typically convenient to public facilities, schools, high employment areas, public transportation as well, making them even more convenient for people in a big city.
2. Less Is More
Younger generations have grown up with technology and social media. Their preferences and lifestyles reflect this change in culture. Some of these people are saddled with high student loans and realize that adding to that debt is not going to help them achieve their goals or pursue their passions.
Increasingly, city dwellers may be embracing this tiny trend over other multi-family housing opportunities, such as full-size apartments or townhouses, because they do not need as much room for storage or the limited personal belongings they do have. Paring down their expenses allows them to spend their money on what they want or even save for the future, giving them greater financial independence and more lifestyle living choices.
3. Flexibility and Freedom
Another aspect of modern life is that people may not stay in the same job or city for as long as they once did. Employees may move to follow a promotion or change careers and cities more frequently than their parents or grandparents did.
Company owners are wanting to provide their employees with secure housing - especially in cities where there is very limited spaces to rent. Some businesses are actually buying purpose-built homes, whole apartment blocks, or hotels to house their employees, staff, and in some cases their customers (uni students, trainee pilots, etc)
Affordable Shared Living opportunities make it easier for people to pick up and go because they have less to pack and move. They may have more freedom with leasing as well, especially because affordable living is in high demand; it may be easier to get out of a lease or afford to pay out your lease in order to leave early because of lower affordable housing costs.
4. Increased Efficiency
One of the beloved features of the tiny lifestyle - especially with the micro-apartment style shared living opportunity - is the clever use of multi-use furniture that comes with making the most of what space you have. Some units may even come with modular furnishings that can even be multi-purpose, such as a lofted or Murphy-style bed to free up living space when not sleeping.
Without a lot of space in your private room, you can’t fill it up with as much clutter. Since plenty of modern people eat their meals out or socialize in public, these Affordable Shared Living opportunities don’t dedicate as much room to entertaining space or to full-sized kitchens.
You have what you need because, frankly, you don’t have space for anything extra.
Are you thinking about expanding into this new and burgeoning world of the micro-apartment?
U1st Realty, IR Homes, and RedCap Finance Brokers have got your back.
We have the tools you need to…
1. Develop, finance, & build these Affordable Shared Living opportunities, and
2. Manage these Affordable Shared Living opportunities once built, and if
3. You want to sell; we can assist there too!
Give Jeff 0407 5 777 27 or Allan 0418 66 11 25 a call today to start your journey with Affordable Shared Living opportunities.
Please Take Note: U1st Realty is a licenced real estate agent and is able to give property advice within the scope of their licence. The nature of the professional advice given will vary depending on the nature of the Real Estate Activities you engage in; but will require (at a minimum) you need to be advised by a licensed real estate agent, a licensed builder, a solicitor, a Financial Advisor, and/or an accountant. You further acknowledge and agree that U1st Realy Pty Ltd is not licenced to provide financial advice and therefore any information we may offer you is entirely factual information in nature, except in the areas that we are licensed to advise you on. We provide quality factual information and real estate guidance to our clients so that you are able to question and engage the various appropriately licenced professionals to get the personal advice you need; and to help you learn from the experiences of others that have already engaged in certain Real Estate Activities that you may be considering.