The housing crisis is edging an entire generation out of the most expensive cities on the planet. But what if you could still live in those cities, moving between them like a digital-age vagabond, sharing well-appointed apartments for short stints with likeminded globetrotters? That’s the promise of a new co-living startup called Roam.
Founded last year, Roam markets itself as a “distributed network of communal living spaces” with locations all over the world. You pay $500 (£345) per week or $1,800 (£1,243) per month (plus tax) to stay at any of Roam’s facilities — usually converted hotels — where you get a private room with your own bathroom, shared kitchens and living spaces, amenities like Wi-Fi and laundry, and in some places, pools and media rooms.
Right now, there are only locations open in Miami and Ubud, on the island of Bali in Indonesia. But spaces in Miami, Buenos Aires, and London will open this year. Roam just announced it’s got $3.3 million (£2.3m) in funding, with a slew of angel investors that include SoundCloud founder Eric Wahlforss.
The idea is that instead of putting down roots for a property that you probably can’t afford anyway, you remain untethered, wandering wherever your heart desires. “Roam is creating a way for people to live according to their interests and curiosities, rather than around the traditional 30-year fixed rate mortgage,” said Roam’s co-founder Bruno Haid, in a statement.