Cohousing is an emerging real estate trend that combines the private living space of a traditional single family home with the community and connection of a traditional neighborhood. This development process creates a hybrid of private homes, communal living spaces, and public or shared areas for all residents to use.
What Is the Difference Between Cohousing and Traditional Developments?
Unlike traditional real estate developments, cohousing projects feature individual homes that are specifically designed and planned by the residents. Residents work together to design and construct their own community, creating an environment that has many of the same benefits of a traditional neighborhood, but with a more collective, tailored approach. Additionally, cohousing developments place an emphasis on social interaction, offering shared living spaces such as common kitchens, recreation areas, and meeting spaces.
What Are the Benefits of Cohousing?
Cohousing provides a range of benefits for its residents. Cohousing projects typically reduce environmental footprints by combining resources, such as cars and tools, that would otherwise be dispersed among multiple households. From a social perspective, cohousing projects create a sense of community among its residents, fostering stronger relationships within the development. Additionally, cohousing projects often promote economic development and other local initiatives, supporting businesses and local organizations, and creating jobs.
Who Is Cohousing Well Suited For?
Cohousing appeals to a diverse range of people, from young professionals to retirees. As more people are seeking a sense of community, cohousing projects are becoming a popular solution for new developments. They offer residents the freedom to customize the look and feel of their home, without compromising connection to their neighbors and the community.