How to find a property for a digital nomads' coliving? - 10 points to consider
Are you thinking about opening a coliving for digital nomads and remote workers? Do you wonder how to choose the right property?
Check out the following 10 points that will help you make an informed decision:
Geographical Location
Location is the top selection criterion for digital nomads. It's a good moment to ask yourself which audience you want to serve. Think about the experience you want to provide in terms of local culture, access to nature, activities, and weather. Check if there are other colivings in the area and what the demand for them is.
City, Town or Countryside
Do you want to open a coliving in a big city or in a very remote location? Most successful colivings are located in mid-size towns like Sun&Co in Javea or Cloud Citadel in Briançon. There is a number of colivings in remote, off-the-grid areas which attract people interested in nature and more of a "zen" experience [Anceu or Chateau]. Anything can work, but remember that if you choose a remote location, having a car will be a necessity and potentially an extra cost for your guests. Consider activities that can be done within a 1-hour drive from your coliving.
Size
How many people do you want to host? Studies have shown that a good community, managed by one community facilitator, consists of 15-30 people - the closer to 15 the better. Think about the number of bedrooms and their types: from double ensuite to dorms. Having 2-3 extra rooms for the hosts and volunteers is a good idea.
Layout
Check if the building has a good internal arrangement for a coliving. Are there enough rooms and bathrooms? Is the kitchen a good size and located conveniently in the building? Are there plenty of open-plan spaces for common areas that can be easily separated from bedrooms? Outdoor spaces are a big plus. Being able to have a meal outside can be a real game-changer. Every layout can be adjusted, but getting a property with an "almost ideal" one will mean less work, less money, and less environmental impact.
Old or New Building
We all love old historical buildings with character, but quite often they require more work, come with more unforeseen risks, and have higher maintenance costs. Undertaking a good technical assessment of the property's condition will be essential to reduce the number of unknowns. If you want an easy project, you will be better off going for a newer property.
Town Hall Urban Planning
If you buy a property for a coliving space, you will most likely need to coordinate your work with the urban department of a town hall. You will have to ask for permission for renovations and, in most cases, a "change of use" for your property. Since coliving is a new concept, local authorities are often unclear about its classification - it's a grey area, and depending on the town hall, colivings will be considered either as residential use or commercial/hotel use. If you consider buying an old property, check if it's historically protected. If it is, it may mean you will not be allowed to do the things you want to do. It's a good idea to have consultations with the town hall before buying a property.
Thermal Comfort
Most coliving spaces are located in warmer parts of Europe, which means you will need cooling in summer and heating in winter. Check the current heating strategy in the property and if it functions as expected. If it needs replacing, you should not only consider the system itself but also the entire thermal envelope of the building, such as insulation of the walls and roof, and the condition of the windows. Having ecological solutions
Acoustics
Good acoustics are essential for a coliving space. You want your guests to be able to enjoy privacy and a good sleep while others may feel more social. The easiest way to achieve this is by finding a property with an acoustically friendly layout, which means grouping all the bedrooms in one part of the building and all the common areas in another. Also, think about the best location for the workspace, which will require some quiet zones. You can check the acoustic properties of the walls by conducting noise tests when visiting the property.
All the tech stuff: electrical layout, fiber and 4G
Digital nomads need top-notch tech facilities. Even if the property is only 20 or 30 years old, it may need the entire electrical system to be replaced. This is because the property probably wasn't built to accommodate so many people, and 20 years ago there wasn't a need to connect so many devices. Check if the building plot has a fiber connection and good 4G coverage.
the "WOW factor"
Lastly, find a property with a great feature that people will fall in love with. At Nine it's a rooftop overlooking the Atlantic Ocean, at Cloud Citadel breathtaking mountain views from each window. Not only will it provide a special experience to your guests, but it will also help to brand your coliving space.
Finding the right property takes time, and it's a bit of a matter of luck. From the research I conducted with 10 popular colivings it can take anywhere between 1 and 12 months. Your budget will be a key driver and sometimes it may mean a compromise. Keep the above points in mind, but mostly follow your instinct. Once you visit the right property, you will know it is THE ONE.
Good luck, and feel free to get in touch for more information!
