Co-housing is a real estate option that may remind you of your college days. In some ways, it’s also similar to owning a condo, but co-housing encourages shared space and plenty of resident interaction. In some co-housing communities, this interaction even includes shared meals which residents take turns preparing.
It seems to me that we have seen this focus trending in the rental market for some time. New apartment complexes focus on well designed and decorated common areas with coffee and snack bars, pool tables, workout centers, grilling stations, and of course swimming pools. People like being responsible for less space (no lawn to mow or pool to clean) but getting the benefit of all the shared amenities offered by the complex.
Will people buy into this concept beyond the rental market? I am interested to see what happens, but some data on Millennial housing preferences (smaller spaces, smaller yards) suggest they might. Baby Boomers are definitely flocking to 55 and over communities that offer independence but also lots of social interaction and shared space (Carolina Arbors by Del Webb, Creekside at Bethpage), so perhaps younger buyers will look to co-housing for similar reasons.
I enjoyed reading this article in the Indy which discusses this new housing option.