A finance professional has sparked a debate on renting versus buying a home after sharing the experience of a friend who, despite being financially capable of purchasing a flat, chose to live in a rented apartment instead.
In a post on X, Aditya Kondawar, Partner & Vice President at Complete Circle Capital, said his friend, who works at an IT company, deliberately opted to rent even though he "can easily buy a 2 BHK in a good area". According to Kondawar, the decision came despite repeated advice from the friend's parents and others to purchase a home.
However, the arrangement took an unexpected turn. Just four months into the third year of the rental agreement, the landlord informed the tenant that he would have to vacate the flat within 15 days because the property was being put up for sale.
‘He can easily buy 2BHK’
Kondawar said his friend had been living in the rented flat for two years and had developed a cordial relationship with the owner.
"A friend who works in an IT company took a flat for rent. He can easily buy a 2BHK in a good area and yet he didn't listen to his parents or friends," he wrote.
{{/usCountry}}"A friend who works in an IT company took a flat for rent. He can easily buy a 2BHK in a good area and yet he didn't listen to his parents or friends," he wrote.
{{/usCountry}}The situation changed abruptly during the third year of the tenancy.
"He was renting the flat for 2 years and had good relationship with owner. Just 4 months into the 3rd year of agreement, his owner has asked him to vacate within 15 days because he wants to sell out," Kondawar said.
‘Now he has to find new flat’
Kondawar pointed out that the timing had made the situation particularly difficult for his friend, who now has to juggle work commitments with the challenge of relocating.
"Now he has to manage office, his shifting and find a new flat in this crazy rains," he wrote.
Using his friend's experience to make a broader point, Kondawar advised people not to rely solely on financial influencers who advocate renting over buying. “Don't listen to any finfluencer, if you can please buy your own property, instead of paying rent Pay EMI - My personal take,” he wrote.
(Also read: Zerodha's Nikhil Kamath takes a U-turn, buys a house after advocating staying on rent)
Post sparks debate
The post struck a chord with many social media users, with some arguing that renting offers flexibility while others said owning a home provides greater stability and protection from such unexpected disruptions.
“If the notice period of 15 days is specified in the agreement then we cannot put a finger on the owner. As far as I know, the notice period is generally and legally for 30 days,” wrote X user Mitesh Patel.
“Absolutely sir, owning a home brings a different kind of peace, don't blindly follow finfluencers,” another person said.
“Rent buys you a landlord's peace of mind. EMI buys you yours,” declared a user named Pankaj Agrawal.