Real estate prices have skyrocketed. YES, everyone is fearful about rising and unaffordable real estate prices everywhere. Just 3-4 years back it was affordable to at least little higher middle classes but today its totally unaffordable to even higher middle class(IT people is just one example).
When I say affordability I DO NOT mean to say about purchase power. Many of us might have purchasing power to buy a house of 60-70 lacs with some down-payment and rest as a loan but that does not mean affordability. Affordability is also related to buying at ethical and fair price so that after buying that one house we are also capable of fulfilling other important goal aspect of life. It's affordability to at least couple of classes in the society and not just very upper class.
Somewhere inside our heart we know that this industry is highly manipulated by builders, politicians, land mafia's and black money holders nexus.
It's a *HOT* investment as in the mind of people although not very sure about its long term impact. Everyone is afraid that they do not want to miss that opportunity bus and trying to get into it at whatever price it cost them.

Home or House ? that's the question. If home then renting a apartment is also good option. From financial point of view also its much more beneficial and makes sense. At least looking at current cost structure renting is far superior than buying it.

Now, Rent or buy ? :bab (38):

What are your views ? financial, emotional, social...
would like to hear them here in this post.

Thanks everyone!
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  • Originally Posted by NestSeeker
    Thanks Nilesh. What are the odds of finding such landlord?

    May be someone staying out of Pune or someone staying abroad?

    One of my friend went through similar dilemma...Lot of builders have unsold flats in there schemes, he went through lot of them and finally found one in usually sign agreement for more than 11 months, that might help you...will try to find if his apt has any vacant flats....

    Btw, this renting vs buying debate is unending....and may be renting makes sense financially, but if you consider all these hassles...buying makes more sense...
  • Originally Posted by NestSeeker
    This is an old thread. Re-opening since I have a question. Experts, please advise.

    I moved to Pune in Apr-May 2010 and rented a 2BHK for Rs 13,000. At the time of renewal, the owner wanted to increase it to 16,000 (reason - society maintenance charges have gone up!). I was ready only for 10% increment. Finally settled with 15000 since I was in no mood to shift and go through the hassles all over again.

    Now the second renewal is coming up and my greedy landlord is demanding 18,000 (Reason - 2 new malls and multiplex have come up nearby). Can you believe this guy? I told him I cant afford more than 10% increment. There seems no end to his greed so I have started looking for another apartment.

    As much as I am a fan of renting, I dont want to go thorugh the hassle of searching for house and moving every couple of years. Add to it the brokerage and shifting costs. I need stability at least for 4-5 years.

    Can I do anything about this? Putting a clause in rent agreement regarding cap on rent increment would help? Any innovative idea to deal with such situation?

    Ek taraf builders aur dusri taraf landlords! Kahan phans gayaa?

    Dear NestSeeker,

    I can understand your pain.
    Have you tried craigslist to find an apartment for renting craigslist: pune classifieds for jobs, apartments, personals, for sale, services, community, and events
  • Buy for your retirement while you can pay EMI.