Renting vs buying property: Why homebuyers shouldn’t let FOMO drive their real estate decisions
A Bengaluru resident advises homebuyers to avoid investing in property out of fear of missing out, urging caution amid economic uncertainty and job risks
The rent-versus-buy debate continues. With the risk of project delays, global economic instability, fear of job losses, and the track record of a few developers, it's better to hold off than to make decisions driven by the fear of missing out (FOMO) or influenced by others’ timelines, advises a Redditor.
“Rather than feeling late to the real estate party, now may be the perfect time to skip the hype and wait for the market to stabilize. After all, it’s your money and your future—don’t spend the next 20 years repaying a loan for a decision made out of fear. Be smart, be patient, and most importantly, don’t fall for the hype,” the Redditor cautions.
“And let’s not forget the bigger picture: We’re living in a time of global uncertainty—tariff wars, recession warnings, job market volatility. In times like this, cash is king. You might think you’re late to the real estate party. But here’s a different perspective: You’re actually right on time—to skip this overhyped wave and wait for a correction or stabilization,” the Reddit post noted.
“Just like the stock market eventually cooled off after irrational highs, real estate too will level out. The prices may not crash dramatically, but they will stay in this inflated range for the next 2–3 years. You’ve already waited this long—what’s the harm in waiting a bit more?”, the Redditor wrote.
Finally, do not let someone else’s timeline dictate your financial decisions. “It’s your money. Your future. Don’t spend the next 20 years repaying a loan for a rushed decision made in fear. Be smart. Be patient. And most importantly, don’t fall for FOMO,” the post said.
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Financial flexibility versus long-term debt
The Redditor said he has been residing in Bengaluru for six years. “Like many professionals in this city, I moved here seeking better opportunities and career growth. All these years, I’ve chosen to stay on rent, not because I couldn’t afford a flat, but because I’ve always believed in financial flexibility over long-term debt,” he explained.
He recalled that between 2020 and 2022, 2bhk apartments from Tier 1 and Tier 2 builders were priced between ₹70 lakh and ₹1 crore. Despite these comparatively lower prices, he held off on making a purchase, pointing to the uncertain job market and steep interest rates as key factors in his decision.
'FOMO led to investing in real estate'
The Redditor admitted that as rental prices nearly doubled in recent years and many of his peers began buying homes in gated communities, the fear of missing out (FOMO) eventually got the better of him.
He booked a 2BHK apartment in East Bengaluru for ₹1.2 crore, influenced by a sales representative who claimed that 80% of the units had already been sold and that prices were expected to rise soon.
However, soon after paying the booking amount, a legal review uncovered several red flags. The buyer learned that the builder had a history of delayed projects and financial mismanagement, raising serious concerns about the investment.
“Worse? The project that was ‘80% sold’ when I booked? A few weeks later, a friend got a call from the same builder offering the same flat for ₹1.10 crore— ₹10 lakh less than what I was quoted,” the post stated.
The buyer then cancelled the booking and faced delays in securing a refund.
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'Don’t believe the hype'
“Bengaluru real estate is already inflated. Don’t believe the hype,” the Redditor said. “If 80% of the flats are sold, why are advertisements and cold calls still happening? Why are discounts offered under the table if demand is really that high?”
With many new projects promising possession dates four to five years down the line, the buyer pointed out that homebuyers could end up paying EMIs long before they even move in. He urged others to research a builder’s track record thoroughly, avoid making impulsive decisions, and maintain financial caution, especially given the current global economic uncertainties.
“While homeownership is a goal for many, entering the market without careful planning and patience could lead to long-term financial strain,” the post said.
“The truth is, most of these flats have possession dates around 2028–2030. That’s 4-5 years from now! You’ll be paying EMIs long before you even get to live in your home. The risk, delays, and stress aren’t worth it—especially with Tier 3/4 builders who don’t have a strong track record,” the post added.
