San Jose in Silicon Valley is a dream location for many millenials. Can one say the same about accommodation? No, you cannot because it is a challenge to find rooms for rent in San Jose. On the one hand, there is a tremendous demand for housing in San Jose. On the other, the price of real estate is extremely high, thereby making it difficult for people to afford one. Under such circumstances, the shared housing concept comes as a breath of fresh air.
We should know the concept of shared housing to understand why it is an affordable option in 2019.
Concept of Shared Housing
Shared housing or co-living is a concept where you share specific areas in your house with others. You have apartments, where you have a room entirely for you with all amenities but you share common areas like the dining hall, living room, kitchen, bathrooms, and so on. It is indeed an excellent concept for single individuals, but couples also prefer choosing this concept because finding rooms in San Jose is an expensive affair lately.
How do you save money in a shared housing concept?
Is shared housing inexpensive because you would not be renting the entire house? If you compare the prices for rooms in San Jose with the shared housing rent, you might not find much of a difference.
Now, let us see what you pay when you take up a private or shared room in San Jose.
You have to pay a security deposit, application fees, broker fee (if applicable) in addition to the rent for the first month. The security deposit could range up to the equivalent of the first month’s rent. Therefore, you could end up paying almost two months’ rent before you move into your new shared house.
Apart from these amounts, you pay for the utilities like electricity, water, gas, internet, and TV every month. You also pay for the new furniture that you might bring in to your house. The transportation cost of the existing household items is also a considerable one. Therefore, one can safely state that taking up entire apartment for rent in San Jose is more expensive than it initially appears to be.
Let us now look at what you save in shared accommodation.
When you choose a shared housing concept, you save a lot of money. You do not have to pay the complete security deposit and rent. It gets divided based on the number of people sharing that apartment. There is no need for you to bring a guarantor or a reference. You do not pay for the utility bills such as electricity or water, all by yourself. Your rent includes building utility payments. You get a semi-furnished house to stay in. All you pay is the monthly rent, a one-time refundable deposit, and your share of utilities.
Thus, you can see that sharing accommodation is cheaper as compared to availing an entire apartment for rent in San Jose.
What type of accommodation do you get in a shared housing concept?
The very title suggests that you share specific areas of your house with other members. You get a separate room for your privacy. Students and single individuals can share places and save on the rent as well. In a shared housing concept, you share living areas, kitchen, dining room, and even bathrooms at times.
The individual rooms may come furnished along with air-conditioning. It entails that you do not have to buy or bring your existing furniture & other appliances when you move into shared housing accommodation. The single rooms give you the much-required privacy. Today, you find people using the shared housing concept as a shared working concept as well. Thus, you save time and money. It adds to the overall savings when you consider shared accommodation versus individual accommodation.
Other factors concerning shared housing
There are some disadvantages such as you have to share common living space with strangers. Some people could have problems with such a scenario. However, it allows you to mix with people and make new friends. In this way, you get emotional support in times of need.
In today’s times, it is not difficult to find shared accommodation. Reputed rental websites like Airbnb and Cirtru have invested a lot in this concept.
The amount of money saved with shared accommodation is substantial. With thousands of private and shared rooms for rent in San Jose, shared housing is indeed an affordable option available to millenials in 2019.