Age 25, salary 20 LPA and still confused about buying or renting a flat? CA has the answer
buy or rent an apartment in a tier-1 city has gone viral, sparking widespread debate on social media. The question posed was about financial priorities and whether it makes sense to invest in property or opt for renting while focusing on savings. The tweet read, “25-year-old with 20 LPA job. Buy or Rent an apartment in Tier 1 city?” A Chartered Accountant reacted to the social media post and answered the question.
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CA reacts
A Chartered Accountant responded to the query by providing a practical breakdown of costs in a city like Mumbai. The CA wrote, “20 LPA is 1.42 lac in hand. Let’s take Mumbai as eg. 1bhk 1.5 cr EMI 1.1 lac. 2bhk 2.5 cr EMI 2 lac. It’s NOT practical to buy a house if you are the only earner. Better to rent, and do SIP. However, if u don’t have a home to fall back on (in hometown), then you may buy one.”
Internet divided over the question
Social media users shared their perspectives on the matter, offering varied insights. Some emphasized evaluating personal circumstances, such as job stability, the possibility of relocation, and existing financial obligations. Others pointed out that buying property is a deeply personal decision, with homeownership providing a sense of security and peace that renting cannot offer.
Several netizens stressed the need
