Do you know what custom built home designs for coliving is all about? Do you know what coliving is? Read on so you can find out what these are and how you can benefit from them.
With rental prices continuing to rise across Australia, the demand for flexible, affordable housing has never been greater. In response, smart investors are turning to custom built home designs—specifically designed for the growing coliving market.
But owning a successful coliving investment property involves more than just renting out rooms in an existing house. With that in mind, how can smart custom built home plans maximise both tenant appeal and long-term rental returns?
Why Coliving Demands Smarter Design
Traditional homes are built around the premise that all the occupants are either related or know each other very well. Shared bathrooms, shared kitchens and shared spaces are the norm. In a coliving property, however, renters are increasingly seeking privacy, independence and a living arrangement that feels more like their own.
Coliving amongst non-related individuals demands a smarter design to ensure privacy, functionality, and comfort for multiple occupants while maximising the use of shared spaces. Property investors who can cater to these (very reasonable) renter needs are more likely to achieve higher tenant satisfaction, reduced vacancy risk and an increased rental yield.
What Sets Coliving Housing Apart?
There’s a big difference between coliving custom built home plans and an old-fashioned shared house where everyone just squishes in together and tries to make things work.
Coliving housing is designed to strike a balance between privacy and community. This means having multiple lockable spaces where tenants can have their own space (usually with an ensuite bathroom and a built-in kitchenette), coupled with a variety of shared zones (main kitchen, laundry, outdoor areas, etc.) that are designed to support community use while maintaining personal space.
Key Features of Custom Built Home Plans
Custom built home plans for coliving will typically include a range of unique features that are tailored to the needs of the potential occupants. The key is to invest in the features that will be most attractive to tenants seeking a shared accommodation arrangement.
Essential Elements to Include in Coliving Custom Built Home Designs
When planning your custom build, consider including the following high-demand features:
- Multiple private bedrooms, preferably with kitchenettes.
- Private ensuites for each room or multiple bathrooms (to meet the needs of the proposed number of occupants).
- Durable, low-maintenance materials that are easy to clean.
- Low-energy appliances and fixtures.
- Sound insulation for added privacy.
Benefits for Investors: Choosing Custom Build Home Plans
Property investors who opt for custom shared accommodation designs often experience a range of benefits, including:
- Higher returns thanks to multiple income streams on a single property.
- Fewer alterations are required, delivering better long-term value (as the property has been purpose-built to suit).
- Increased appeal to a broader tenant base, including retirees, professionals, students and FIFO workers.
- Long-term flexibility with a property that is easy to repurpose or resell in the future.
Get Expert Help with Your Custom Built Home Designs
For custom designs tailored to the needs of coliving homes, you can’t go past the experienced team at INVIDA. We offer end-to-end support, assisting with design and approvals, right through to construction and ongoing property management. Our experience in the coliving investment space enables us to deliver custom builds that meet tenant needs while also complying with local regulations.
Ready to Build Smarter? Discover INVIDA Custom Built Home Designs
Investing in custom built home designs tailored for coliving is a proven method for increasing rental yields and reducing vacancy rates. With expert support and the right design, you can create a high-performing asset that meets the growing need for shared rental properties in Australia. Book a strategy call with INVIDA today and discover how a custom designed coliving property can take your investment portfolio to the next level.
