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This comprehensive article reveals a lot about living in Madrid, to help you make the right decisions when thinking of Madrid.

 

Why Consider Coliving in Madrid?

How does traveling to a distant city or country sound without having to pay for expensive hotel lodging?

Welcome to the world of coliving in Madrid.

Many individuals wish to travel abroad.


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Sometimes it is for business, sometimes for pleasure or perhaps someone is studying abroad.

The difficult question is finding accommodations that are safe, pleasant, and affordable.

Enter the new living arrangements for individuals who want exactly all of this and more.

Coliving nicely packages the independence and private living in one’s bedroom coupled with sharing common spaces with others.

This living arrangement is the best of both worlds blended with affordability.

 

Personal Story

If you have ever had the experience of having a roommate, you know that at times it can be challenging.

The questions of who does what and when it is done coupled with meals and visitors can be challenging.

In the early ’70s, my roommate invited a few friends over.

For the sake of argument let us say that they indulged in some questionable habits, and I found myself extremely uncomfortable.

Worry began to set in, and I waited to hear at any moment local authorities crashing into our apartment and arresting the lot of us.

Finally, I had to ask everyone to leave and fortunately, the authorities never showed.

Eventually, my roommate moved out.

I wasn’t disappointed as I didn’t want additional roommates at the county jail.

 

What Is Coliving? 

Coliving is the answer to the high price of renting an apartment in a big city.

This form of community living is gaining in popularity.

Individuals wishing to take advantage of reducing their overhead costs of living in an apartment, and live together in a semi-communal setting can explore this opportunity.

The arrangement consists of each of the individuals having their private bedroom but then sharing common areas.

Those common areas would be the kitchen, living room, possibly a bathroom, etc.

This type of living is especially appealing to Millennials and is gaining traction.

Its attractiveness is not only in regards to living together but sharing rides and other experiences.

 

Pros and Cons of Coliving

There are many pros and cons associated with coliving.

Some of the most favorable aspects of coliving include the individual having the freedom and ability to do what they wish to do without too many major restrictions.

It allows the individual to explore, study or broaden their worldly experience.

This exploration is not only enjoying the city of Madrid, Spain but also learning or explore more about one’s self.

Another favorable aspect of coliving is the opportunity to socialize with other people.

Through the coliving experience, the residents will learn how to become respectful of each other.

Also provided will be the learning opportunity about representative cultures and different thinking and viewpoints.

Another benefit of coliving is that living expenses are shared.

These shared expenses make the living arrangements less expensive and more affordable while living in a different country and city.

Another wonderful advantage of coliving is that this is a fairly new concept, and the facilities are equally as modern and new.

Often the living spaces are designed with a beautiful and personal bedroom and then the opportunity to enjoy community living in the dining areas, living rooms, etc.

The somewhat negative aspect of coliving could be the possibility of involvement of semi-private accommodations.

Privacy is enjoyed in the comfort of one’s bedroom but not completely private as it relates to the sharing of common areas.

Additionally, with differences in people come the differences in living habits.

Some may be early risers while others maybe night owls.

Therefore adjustments need to be made as well as making accommodations for varying lifestyles.

 

3 Examples of Coliving in Madrid

 

1. Habyt – Calle de Oudrid

One of the coliving facilities that may be of interest to an individual is Habyt Calle de Oudrid.

This coliving residential home is located in the northwest corner of the city of Madrid.

The advantage of this particular residence is the ease of access to transportation.

A 15-minute commute gets the individual to Puerta del Sol.

This particular residence is fairly reasonable due to the location.

Private bathrooms are offered with these living quarters.

Shared spaces include the living and kitchen room and working spaces.

Also, a conducive rooftop is available for the residents to barbecue their meals outside.

Also included in the rental fees are weekly cleaning services and a laundry room.

Rent, as of this writing, is €600 a month which includes Internet services and all the major utilities.

Click here to check out Habyt – Calle de Oudrid

 

2. Habyt – Calle de Ferraz

This facility is comprised of 10 bedrooms.

Both private and community bathrooms are offered.

Of course, it is a personal decision with accompanying additional costs.

The residence boasts of a shared living room and kitchen space, provides Internet services, laundry equipment, and the use of home appliances.

Rentals start at €500. Utilities which include water, electricity, and WiFi are all included in the rent.

Click here to check out Habyt – Calle de Ferraz

 

3. Urban Campus

This residence offers private bathrooms with private rooms.

Also, is the option to share a bathroom with another coliving guest.

This particular residence is in the Chamberi neighborhood and is the exciting dwelling place of many digital nomads.

A digital nomad is an individual who earns a living utilizing technology to communicate with others.


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Their existence is nomadic.

This residence includes furnished private studios, a shared kitchen space, fitness room, playroom, a terrace area where barbeques can be fired up, an urban garden, movie room, event space, and also included are weekly cleaning and laundry services.

Room rentals range from €700-€790.

Click here to check out Urban Campus

 

Co-living Madrid FAQs

 

What is the Cost of Living in Madrid? 

The cost of living in Madrid, for a family of four, is roughly €2395 or $2805.

This amount is without the cost of rent included.

For a single person, the monthly cost is roughly €675 or $790 a month.

This amount excludes rent.

Rent in Madrid, on average, is less than New York City by 67.26%.

The overall cost of living in Madrid is less expensive in comparison to New York City.

The cost-of-living difference is roughly a 40% difference between living in less expensive Madrid over the more expensive option of living in New York City.

 

What Does Madrid Have to Offer? 

Madrid, Spain is a city that is culturally and historically rich.

Within the parameters of the city are a multitude of museums and various locations that have historic importance.

Given the city’s long history of existence, several medieval architectural buildings still exist within the city.

As far as the dining opportunities of Madrid, suffice it to say that Madrid has its own unique and delicious cuisine along with a variety of drinks that are an experience in themselves.

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What About Cleaning? 

Some residences offer a cleaning service to their tenants.

These cleaning services may come in once a week and do generalized cleaning.

However, with the coliving environment, it is most likely anticipated that the individual will clean up after themselves and provide the necessary cleaning in between the cleaning services visits arriving within the home.

 

What Is the Most Important Piece of Advice? 

The most important piece of advice when beginning to think about coliving in Madrid is to work out one’s medical coverage.

Therefore, it is important to check with insurance coverage to see if the time spent in Madrid is adequate.

Also, it is important to understand that health care in America differs from healthcare in Spain.

Therefore, one must research the Spanish medical system and if private insurance is needed for their stay in Madrid a quote should be obtained and follow-through on that private insurance.

 

What Is the Weather Like in Madrid? 

The weather in Madrid can be best defined as having a dry climate with very little rainfall.

The summers can be extremely hot as well as the winters being extremely cold.

The spring season in Madrid reflects the blossoming of various flowers and foliage.

In addition to the summers being hot, the days seem extraordinarily long and a lot of late afternoon and early evening activities are seen in this Spanish city.

In particular, the month of August is when the residents take their holiday and so the city is less inhabited.

In the fall, the temperatures are very mild and November is typically a cold and rainy month.

Madrid winters are both cold and dry. There is the occasional snowfall.

January is the coldest month of the year with the average temperature being 43°F.

 

Are There Any Amenities for Madrid Coliving? 

Each coliving residence is unique.

Therefore, in their uniqueness, they each offer different amenities.

Some of those amenities could include an exercise room, pool, area for barbecuing, study area, laundry services, cleaning services, etc.

Of course, the more amenities that are offered the greater the rent will be per month.

 

How Do I Move in?

Moving into a coliving environment is not a major process nor is it an agonizing adventure.

There is nothing to pack nor any moving in.

There is nothing to carry upstairs or help needed in moving heavy pieces of furniture.

This is because everything that an individual would need is already contained within the home.

The process is so simple that it will only take the individual roughly, on average, 30 minutes.

 

How Do I Apply?

The best way to make an application is by going online and using a search engine with the keywords “coliving in Madrid”.

Many websites will be returned and the individual needs to sort through those websites.

Additional detailed searches on these residences would include, rent, area of the city located, amenities, etc.

Most of the websites offer pictures of the living spaces and what the details of the living experience are along with the rental argument.

The application can be made through the website of your choice.

 

Who Pays My Utilities?

Because there are many residents within the coliving home, it would be difficult to track and assess each individual’s usage of the various utilities.

Therefore, the individuals sharing the residence all pay an equal percentage of utilities that are incurred.

Those utilities include gas, electricity, water, Internet, etc.

 

Who Are My Roommates?

One’s roommates may come from all areas of the world.

It is important to note that all individuals who are considered for this living arrangement are subjected to an extensive background check.

This is accomplished when the applications for residency are presented.

Therefore, these potential residents have been thoroughly vetted.

This is to ensure that no untoward individuals will be sharing the common spaces with their fellow residential dwellers.

 

You Can Do It

Traveling to a distant country can be an exciting adventure.

In addition to the excitement is a multitude of questions that are raised with possibly a hint of apprehension.

Therefore, it is best just to focus on the opportunity and to move forward, and to realize that exploration and discoveries are a part of life’s enriching experiences.

 

Conclusion

There are many reasons why individuals wish to travel abroad.

Some wish to simply see the world before they take root somewhere.

Others want to continue their formal education and others simply want to further their experiential education.

Regardless of the motivation, travel to a distant land is an adventure waiting to happen.

New sights and sounds, new cultures, new people await the individual who chooses to colive in a residential facility in Madrid Spain.


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Apart from being a seasoned Personal Finance expert who has written for top publications around the world, I bring significant personal financial experience. Long story short... through bad financial choices... I found myself $100,000 plus in debt. I was able to dissolve this indebtedness and regain financial solvency. This financial turn around was accomplished through reading, studying and implementing a financial plan. My financial plan included paying down my debt through budgeting, being cognizant of where my financial resources were being spent, changing my attitude about money and understanding the binding chains of the improper use of credit. Today, and for 10 years, I have been debt free and have invested wisely to enjoy my current retirement. This is allowing me to write to help others make, save and grow money wisely!