Bengaluru Man’s Rs 78,000 EMI Becomes a Burden After Job Loss: A Cautionary Tale
A Bengaluru resident’s dream of owning a flat has turned into a financial nightmare after a job loss. This story sparks a debate on the risks of buying property in metros versus renting.
Real EstateEmi BurdenProperty InvestmentHousing MarketRent Vs BuyReal EstateAug 18, 2025
Wealth Whisperer narrated the story of her cousin’s husband, who purchased a flat worth Rs 1.3 crore a few years ago. With a hefty down payment of Rs 50 lakh and monthly EMIs of Rs 78,000, the family managed to keep up—until a recent job loss from an MNC turned the investment into a financial strain. She revealed that she advised him to sell the flat and start afresh with new plans.
The post sparked strong reactions. One user compared it with his own experience, saying 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 came to around Rs 40,000, but he claimed that he could now rent the flat for Rs 55,000 or sell it for Rs 1.5 crore. He also added that at one point, he rented the property out, used the proceeds to repay part of the loan, and now felt confident he could clear the balance with his PF.
Others weighed in on the bigger question. “Is it really worth buying costly apartments these days, or should we just rent?” asked one user. Wealth Whisperer responded that there is no universal answer, explaining that it depends on a person’s bank balance and the prevailing rent.
Some users shared their philosophies on money. “That’s the only reason I pay in cash: one-time payment, no EMIs,” wrote one. Another questioned the wisdom of taking on debt with an unstable job, suggesting that only government employees enjoy true security. Wealth Whisperer countered this by claiming that over 90 per cent of Indians are in private jobs and will naturally want to buy homes, but the real key lies in calculating the risks before taking on heavy debt.
In the current economic landscape, the decision to buy or rent a property is a complex one. Factors such as job stability, financial health, and market conditions play a crucial role. The story of the Bengaluru man serves as a cautionary tale, highlighting the importance of careful financial planning and risk assessment before making a significant investment like buying a home.
Frequently Asked Questions
What is the main issue faced by the Bengaluru man in the story?
The main issue faced by the Bengaluru man is the financial strain caused by his Rs 78,000 EMI after losing his job at an MNC.
What is the advice given by Wealth Whisperer to the man?
Wealth Whisperer advised the man to sell the flat and start afresh with new plans.
What are the key factors to consider when deciding whether to buy or rent a property?
Key factors to consider include job stability, financial health, market conditions, and the ability to manage debt.
What is the current debate sparked by the story?
The story has sparked a debate on whether buying costly apartments in metros is worth the risk compared to renting, especially in the context of job security and financial planning.
What is the importance of calculating risks before taking on heavy debt?
Calculating risks before taking on heavy debt is crucial to ensure financial stability and avoid potential financial strain, especially in volatile economic conditions.
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