3BHK for 80 lakh with 60K EMI or 40K rent in Bengaluru? Man turns to Reddit for advice

Deciding whether to buy a home or keep renting can be tricky, especially in a city like Bengaluru, where property prices and rents keep climbing. A 30-year-old man recently turned to Reddit for advice after his landlord decided to sell their current 3BHK near Bommanahalli. With an attractive price of Rs 80 lakh and a gated community, he’s weighing a Rs 60K monthly EMI against the prospect of moving to a new flat with rent jumping to Rs 40K.

He’s been living in Bengaluru for over seven years with his wife and one-year-old son, currently paying Rs 22K in rent. His monthly take-home is Rs 2.4 lakh, while his wife earns Rs 1.1 lakh. Their combined expenses, including loans, groceries, and investments, leave them with strong savings and emergency funds of over Rs 10 lakh each. They’ve also set aside Rs 20 lakh for a home down payment.

With a potential Rs 60 lakh loan over 15 years, the couple is trying to figure out if buying now makes financial sense or if renting another flat would be the safer choice. Redditors are now chiming in with perspectives on balancing affordability, future growth, and the rising cost of rents in the city.

Netizens react

Many users felt the man should go ahead with the purchase, calling it a good deal. Some pointed out that if he plans to stay long-term, buying makes more sense than renting. A few suggested that for the first couple of years, while he is managing two EMIs, he could temporarily reduce his monthly investments and later ramp them up once the smaller loans are cleared. Others advised making occasional prepayments from bonuses or increments to cut down the loan tenure.

Several Redditors also highlighted practical considerations such as whether the family would be staying in the same flat for 8–10 years, the availability of good schools nearby, and the ease of commuting to work. One suggestion was to negotiate with the landlord to pay in instalments over 12–18 months before taking a bank loan, though many felt it would be safer to proceed directly with a bank loan to avoid potential complications.

What does a CA think?

In a recent tweet, chartered accountant Nitin Kaushik cautioned against the idea that owning is always better than renting. He explained that many first-time buyers drain savings on down payments, commit to EMIs eating up over 40% of their income, and buy homes simply because rent feels wasteful. The outcome, he said, is living paycheck to paycheck with no buffer for emergencies. Renting, on the other hand, provides flexibility and liquidity for investments. Kaushik advised buying only when EMIs stay within 25–30% of income and emergency savings cover 6–12 months.