by Lilly Miller
As urban areas continue to increase in population on a rapid scale, it is becoming increasingly difficult for city residents to find a suitable place to live. Add to that the fact that the property prices have gone up, and the quest of finding a new home becomes even more challenging for many city dwellers.
Enter micro-apartments – a practical solution for individuals seeking affordable housing options that meet their demands. Going small or downsizing is a trend that has been gaining in popularity in recent years, but it is especially being embraced by younger generations, particularly Generation Y. In this article, we will be taking a look at the rise of micro-apartments as a rental trend and just how generation Y is reshaping rental living and influencing current housing trends.
The on-demand lifestyle
When it comes to younger generations of renters, one of their distinguishing features is their on-demand lifestyle. They know what their priorities are and they know what they want. This approach has many individuals giving up large square footage and certain amenities and trading them for a smaller place with a great location. They need spaces that allow quick and easy access to the city center to which they can bike, walk, or use public transportation. Whether their living place has a garage doesn’t really matter to them – they can now rely on Lyft or Uber to get around. Similarly, food delivery services have replaced the need for spacious kitchens, and even socializing doesn’t call for entertaining in the living room anymore – why do that when you can chat online? Convenience is a major deciding factor, and this is why small living represents a desirable living arrangement for younger generations.
Combining efficiency with creativity
Younger generations value lifestyle over space and developers are taking notes when it comes to providing on-trend urban housing options. Smaller abodes such as micro-apartments are relatively easy to build and don’t require as much time and investments compared to traditional rentals. This translates to higher cost efficiency and shorter construction periods. The need for smaller living spaces also has designers getting more and more creative in building efficient micro-apartment units. Due to the limited square footage, the design needs to be well-thought-out and carefully planned. Furniture placement is very important as it dictates the flow and the general feel of the space, and the same goes for storage units such as built-ins and cabinetry. The kitchen is being increasingly integrated into the living space and special attention is being paid to finishes which ought to be the same to create a sense of cohesiveness.
Small space living as a unique experience
Whether you are a business person, a traveler, or a digital nomad looking for a place to stay, opting for smaller rentals can be a great way to experience the energy of a major city with minimal expenses. A lot of them are situated in very convenient locations to meet the needs of younger individuals, so it’s no wonder that staying at a furnished studio apartment has become somewhat a norm among millennials in metropolitan areas. Renting service apartments provides a unique experience, enabling individuals to feel at home even if they are miles away while also ensuring privacy and peace of mind. Certain serviced apartments also include communal areas such as kitchens, lounges, and rooftops they can use and meet some new and interesting people and maybe even build long-lasting friendships.
An ethical housing option
The rapid population growth in urban areas is making it harder and harder for the housing market to keep up with the housing demands. Fortunately, small space living is offering an alternative solution to the growing problem, and more younger individuals are following the trend and downsizing. Their need to simplify their lives and live in a more minimalist manner is reflected in their choice of housing. However, micro-apartments don’t only represent a practical solution for city dwellers, but they also encourage their residents to live more consciously and sustainably, similar to another rental trend called co-living. Living in a smaller space means less room for stuff, and that translates to a reduced need to purchase and consume. Instead, they’re encouraged to come up with new ways to live more sustainably and consciously, which is why small living may be seen as an ethical housing option.
Conclusion
As young individuals continue to shift their focus towards a simpler, more affordable lifestyle, they are inevitably influencing the course of current housing and lifestyle trends and reshaping the future of real estate. Renting micro-apartments allows these individuals to enjoy all the benefits of living in bigger, densely populated urban areas without dealing with high costs, so it’s safe to say that the small living trend isn’t going away any time soon.