27M, making ₹1.5L/month, but my relatives are making me feel broke for renting instead of buying a ₹90L flat.
I am 27, living in Bangalore, and bringing home around ₹1.5L/month. On paper, I felt like I was doing fine. I put ₹70k into SIPs, send money back home, pay my ₹28k rent, and stay debt free and too depressed from this situation.
My uncle started lecturing me about how paying rent is just throwing money in the urgent and that I should immediately take a 20 year loan for a 2BHK.
I tried walking him through the math that a ₹90L flat means a ₹65k EMI every single month for two decades, which completely kills my ability to invest or keep an emergency buffer.
I spent last night staring at my Excel sheet feeling completely exhausted. Between relatives pushing home loans and friends posting photos with new car keys, it is hard not to second-guess myself.
I am very curious to know about your personal experience and stories that how did you end up regretting it, or did the decision pay off?