A co-living space is a space rented by a number of people, all living under the same roof and in a community, but who will all have their own contract. Co-living spaces typically entail a private bedroom and bathroom and communal eating and living spaces.

A co-housing or flat-sharing is generally a number of people sharing a traditional family style house that has not been directly designed to be shared. Usually, co-housing will be entirely communal apart from each resident’s bedroom. Co-housing will also not include access to facilities on offer in co-living spaces.

One of the big advantages of co-living is the affordability aspect. Compared with renting a flat by yourself, co-living will usually be significantly cheaper, particularly in the busy city centres where these spaces are found. Co-housing can also be an affordable option for those wanting to live in a city. However, the price you pay will be based on ‘normal’ factors that influence private rentals, such as the quality and desirability of the area of the property you’re hoping to move to and local amenities. Generally speaking, these two options come out much cheaper than the option of living alone. However, a downside of co-housing is that you generally sign one contract together with all other residents, whether you know them or not. This means that if another member of your household is unable to pay the rent for example, you may be liable to pay it for them. Whereas, with a co-living contract, you are only responsible for your own share of the rent and for your own room. It is certainly worth considering this before choosing between the two options.