The debate around owning a house vs. renting one is something that has been going on for years. Buying your own house is seen as a lifelong investment, especially in this day and age where rent prices are rocketing in the blink of an eye. A finance influencer jumped on the bandwagon to share his two cents on this topic and netizens trolled him for his impractical advice.
Taking to Twitter, finance influencer Sharan Hedge penned an elaborate thread on why he would not buy a house. He started the thread by saying that he pays ₹1.5 lakhs as rent for his ₹7 crores flat in Mumbai. He substantiated his argument by stating that if he invested in a Nifty 50 Index Fund which would get him 12% interest in the next 20 years, he would have ₹48 crores, whereas a flat will only get him ₹27 crores.
Further, he added that buying a home not only comes with EMI costs but also with registry, brokerage, taxes, etc. He mentioned how buying a house would lock him “not just emotionally but financially as well” and “it might make more sense to buy a house in the 40s”.
Netizens did not agree with him. Fair enough point that buying a house comes with its own costs but landlords can increase rents and even ask you to vacate whenever they want. Paying lakhs in rent per month isn’t really a financially wise decision either. People also added that life is not all about excel sheets and these figures can also fluctuate considering the rising inflation.
Many trolled him for giving financial advice when he pays lakhs in rent. Here’s what people had to say.
Buying a house gives people a security net that a rented place does not offer.
Also Read: If Your Rent Budget Is ₹15,000, This Is What You Can Get In 10 Cities Across India