FULL HOUSE

Sharing isn’t just caring – it’s the way of the future

Sharehousing 2.0: the chic new way to cohabit.

When your parents taught you to share, they probably never imagined that would extend to uberpooling from the airport on your way to an Airbnb, while someone dog sits at your place, and another zips around in your unused ride through a carshare service. The latest incarnation of the share economy? Co-living, whereby people actively seek to cement their sharehouse lifestyle.

In cities such as London, New York and San Francisco, co-living apartment buildings such as The Collective (thecollective.com) and Starcity (starcity.com) are emerging as the co-habitation space of choice. Occupants rent their own bedroom (sometimes with an ensuite), but share a communal kitchen and living area. They come largely furnished, with wifi, laundry and cleaning services, and in some cases, a gym, cinema and community manager who’ll arrange birthday parties and gatherings. It’s dorm-living but for twenty- and thirty-something professionals, and the digs are actually pretty chic.

But if the idea of sharehouse-style living isn’t your piece of (clearly labelled) cake, there are ways out of the weekend inspection vortex and into the property market. In Australia, Nightingale (nightingalehousing.org) is leading the charge in smart, shared-space living, with developments in Melbourne, and plans to expand to Sydney, Brisbane and Perth, with a concerted sustainable focus, and a waitlist of thousands of interested buyers (each apartment is sold to like-minded owner-occupiers only).

Still on that self-imposed avo toast ban, to no avail? Digital platforms such as Kohab (kohab.com) facilitate the co-buying of property between multiple parties – such as compatible investors, who don’t even have to know each other, or ever meet – who then pitch in their share of a deposit. Co-founder David Dawson explains, “One party could even part-purchase the property as an investment, and the other party could live in, and pay rent on the part they don’t own to their co-purchaser.” However, he says they more commonly see flatmates, friends or siblings who “don’t want to be a slave to renting for a decade or more”, buying and living together.

To avoid any potential relationship breakdowns, Emily Power, author of How To Buy A Home, advises: “Before you even think about taking out a mortgage together, have a brutally honest conversation about your personal finances and your expectations. You should be transparent in disclosing your salary, savings and spending habits, and discuss your future plans.” She adds: “Predict worst-case scenarios and have a blueprint for how to handle them.” And remember what your parents taught you.

E“THERE ARE WAYS OUT OF THE WEEKEND INSPECTION VORTEX”