Paying ₹60,000 or more in monthly rent is no longer unusual in India’s largest cities. Across Bengaluru, Mumbai and Delhi-NCR, a growing number of salaried professionals are opting to rent premium homes, even as owning a house remains a deeply rooted aspiration.
“We often think we could have continued to live like kings in the ₹60,000 apartment with an amazing landlord handling maintenance, rather than the stress we faced during the buying process,” one Reddit user shared.
Job mobility has emerged as one of the strongest arguments in favour of renting. Many users said renting gives them the flexibility to move to different cities, neighbourhoods, or even countries, without the financial and emotional inertia that often comes with homeownership.
The choice to rent, many say, is not driven by inability to buy, but by a conscious assessment of costs, flexibility and lifestyle trade-offs. A Reddit discussion captured this shift in thinking, with high-income renters explaining why they continue to rent despite rising rents.
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‘Renting made us live like kings’
For many, renting is also about quality of life. One couple recalled paying ₹60,000 rent for a ‘palace-like’ apartment before buying their own home. “Our EMI is now significantly higher than our rent was, and the buying process stretched us financially and emotionally. We sometimes think we could have lived like kings for longer,” they wrote.
“We bought 6 months after moving in, and our emi is significantly more than our rent. It has stretched us so much, and the building, interiors, and registration process have run us ragged. We often think we could have continued to live like kings in the 60k apartment with the amazing landlord doing the maintenance, rather than the tension we faced in the buying process,” the Redditor posted.
“No regrets, but we can definitely understand why people who have high disposable income would like to have a great place to live without buying. The multiplier between renting a great place and buying a great one is very big,” they said.
Others pointed to hidden benefits like tax savings through HRA, credit card rewards on rent payments, access to better amenities, and freedom from maintenance and legal hassles. “The gap between renting a great place and buying a great one is huge,” one Redditor noted.
‘The flats we rent cost ₹3–5 crore to buy’
Several tenants pointed out that the homes they occupy, often in prime or well-connected locations, would typically cost anywhere between ₹3 crore and ₹5 crore to buy outright, making ownership financially impractical even for high-earning households, while renting allows them to access the same lifestyle at a fraction of the monthly cost.
“Those who are renting flats at 60k cannot afford the ₹4–5 crore flats. It doesn’t make sense to buy at that amount,” one Redditor wrote, adding that renting allows access to larger homes and better locations without taking on crushing debt.
Another user noted that a ₹60,000 rent often corresponds to a home valued closer to ₹2.4 crore, assuming a rental yield of about 3–4%. “Buying the same flat would mean an EMI far higher than the rent and lock me into one location,” the tenant said.
In cities like Mumbai, Redditors said proximity to work plays a decisive role. “I pay nearly ₹1 lakh rent, but my travel time is zero. A similar flat would cost much more in EMI and lock me to this city,” one of the Redditors wrote.
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Flexibility over bricks and walls
Job mobility emerged as one of the strongest arguments for renting. Many users said renting allows them to move cities, neighbourhoods, or even countries, without inertia.
“If I get a better opportunity in another city, I’ll happily wrap up and move. My time is more valuable than a few extra thousands spent on rent,” one Redditor wrote. Another said that renters tend to be “less worried, more adaptable” and more willing to chase growth opportunities than homeowners tied down by EMIs.
Several users highlighted the risk of long-term loans in an uncertain job market. “If you’re not sure you’ll have income to pay EMI for 30 years, it’s safer to rent,” one commenter said, adding that investing the difference between EMI and rent can accelerate financial independence.
What experts say
The choice between buying and renting a home should not be driven solely by tax benefits, but by a broader assessment of financial goals and lifestyle needs. Tax experts note that benefits such as House Rent Allowance (HRA) and deductions on home loan interest and principal apply only under the old tax regime. In many cases, the new tax regime may still prove more advantageous even without these deductions.
When deciding whether to rent or purchase a first home or an investment property, buyers should also evaluate factors such as location, long-term price appreciation, and flexibility, especially the option to rent out the property if they relocate to another city.
(Disclaimer: This report is based on user-generated content from social media. HT.com has not independently verified the claims and does not endorse them)