Bengaluru techie buys Rs 1.3 crore flat, then suffers sudden layoff; Rs 78,000 EMI turns major stress
Bengaluru techie buys Rs 1.3 crore flat, then suffers sudden layoff; Rs 78,000 EMI turns major stress
A viral post reignites the rent-versus-buy debate among urban Indians
Owning a dream home in Bengaluru is often seen as a milestone, but for one family, it has become a source of financial anxiety. A story shared on X by a user called Wealth Whisperer has sparked a heated discussion on whether it makes sense to buy property in India’s metros compared to the flexibility of renting.
According to her post, her cousin’s husband purchased a Rs 1.3-crore flat a few years ago. He made a down payment of Rs 50 lakh and took a housing loan, which left the family with a hefty monthly EMI of Rs 78,000. They managed the payments comfortably until a recent job loss at an MNC turned the investment into a heavy burden. Wealth Whisperer wrote that she advised him to sell the flat and start afresh, but the situation sparked wider commentary.
Renting vs Buying: The Counterpoint
One user compared the case to his own experience. He said he bought a flat for Rs 65 lakh in 2020, made a down payment of Rs 20 lakh, and took a loan of Rs 45 lakh. His EMI worked out to around Rs 40,000, but he claimed that he could now rent the property for Rs 55,000 or even sell it for Rs 1.5 crore. At one point, he said, he rented the flat and used the proceeds to repay part of the loan, and now felt confident of clearing the balance with his provident fund savings.
Divided Opinions
The post opened up the larger question: is it really worth buying expensive apartments, or is renting a smarter choice?
Wealth Whisperer herself clarified that there’s no one-size-fits-all answer. “It depends on a person’s bank balance and the prevailing rent,” she explained.
Others shared their financial philosophies:
- One user wrote, “That’s the only reason I pay in cash — one-time payment, no EMIs.”
- Another pointed out the risk of debt with an unstable job, arguing that only government employees enjoy real security.
Wealth Whisperer countered by reminding that over 90% of Indians work in the private sector, and for most, owning a home remains a natural aspiration. The real key, she stressed, lies in calculating risks carefully before taking on heavy debt.
