Hereby I will prove how the realty boomers arguments are false.

What are the boomers arguments?

1.) Buy today, houses always increase in value in the long run.
WRONG. House prices cannot increase more than incomes in the long run. This is obvious if you think about it. If house prices go up more than people can afford to pay, buying stops, like it has stopped now.
Even Warren Buffett have pointed out that houses don't increase in intrinsic value. Unless there's a bubble or a crash, house prices simply reflect current salaries and interest rates. If a house is 100 years old, it's value in sheltering you is exactly the same as it was 100 years ago. Then came the maintenance as the house didn't renovate itself. It also has taxes, and insurance - costs that always increase and never go away. The price of the house went up about as much as salaries went up.
To put this is simple perspective, vegetable were costing Rs.5-6/kg when 5 digit salary was a rarity.
Today, the prices have gone up by about 4 times but so have the salaries. So, sounds very much like the reasoning people use now when they talk about how much their father's house appreciated "in the long run" without considering that salaries rose a proportional amount.

2.) Renting is just wastage of money.
WRONG. As said before renting is now much cheaper per month than owning. If you don't rent, you either:

* Have a mortgage, in which case you are throwing away money on interest, tax, insurance, maintenance, costs that increase forever.
* Own outright, in which case you are throwing away the extra income you could get by converting your house to cash, investing in bonds, and renting a similar place to live for much less money. This extra income is sufficient for emergency expenses,retirement etc.

Either way, owners lose much more money every month than renters and that's assuming prices don't correct to very high level & everything is smooth in the economy.

3.) As a renter, you won't have any money left as you will spend them on vacations,cars & hence won't have equity/savings etc.
WRONG. Equity is just money. Renters are actually in a better position to build equity/savings through investing in anything but housing. Renters can get rich much faster than owners, just by investing in conservative stocks & bonds.

* Owners are losing every month by paying much more for interest than they would pay for rent. The tax deduction does not come close to making owing competitive with renting.
* Owners must pay taxes simply to own a house. That is not true of stocks, bonds, or any other asset that can build equity/savings. Only houses are such a guaranteed drain on cash.
* Owners must insure a house, but not most other investments.
* Owners must pay to repair a house, but not a stock or a bond.
* Owners lose their money as house prices reduce. The EMI's remain constant in spite of reduction in rates. At the end of loan tenure, they would have paid almost twice than that of current renters who will buy at logical rates. Keep interest rates in mind. Most of the EMI is not principal amount but interest.

4.) There are great tax advantages to owning a house.
WRONG. Many people believe you can just reduce your income tax by the amount you pay in interest, but they are wrong. Buyers may not deduct interest from income tax; they deduct interest from taxable income. And even then, the tax advantage is not significant compared to the large monthly loss from owning.

If you don't own a house but want to live in one, your choice is to rent a house or rent money to buy a house. To rent money is to take out a loan. A mortgage is a money-rental agreement. House renters take no risk at all, but money-renting owners take on the huge risk of falling house prices, as well as all the costs of repairs, insurance, property taxes, etc.

5.) RE is based on local factors, it's not a national phenomenon. RE of Delhi-NCR,Bangalore & rest of the cities has nothing to do with Pune RE.
WRONG. Lending rates remain the same throughout the country. ALL loans are harder to get. This will drive prices down everywhere.

6.) A rental house provides good income. So, you can rent if you have purchased as investment.
WRONG. Rental houses provide very poor income in hyped areas and certainly cannot cover mortgage payments. Remember there is almost 300% difference between EMIs & rent for the same house.

It's pointless to do the work of being a landlord if you can make more money with no risk, no work, and no state income tax by investing in assured good returns bond.

7.) If owning is a loss in monthly cash flow, but appreciation will make up for it.
WRONG. Appreciation is negative. Prices are going down. It only adds to the injury of already high EMI's.

8.) As soon as prices drop a little, the number of buyers on the sidelines willing to jump back in increases.
WRONG. There are very few buyers left, and those who do want to buy will be limited by increasing difficulty of borrowing now that many house owners are near bankrupt as they don't save anything at the end of the month due to high EMI's.
No one has to buy, but there will be more and more people who have no choice but to sell as their payments rise. That will keep driving prices downward for a long time.

9.) House prices never fall atleast in Pune.
WRONG. If you see the RE scenario of 1996, prices crashed by 50% & took a whole 7+ years to recover.
Exact 1996 scenario may not be there today but strong correction is inevitable across the city.

10.) House prices don't fall to zero like stock prices, so it's safer to invest in real estate.
WRONG. House prices won't be zero, but the equity or the principal amount you paid can be zero or even negative. What you will pay as EMIs later in actual terms is not for the principal amount but only the interest as house prices dip. So, you will be only serving the bank.

11.) Prices will soften gradually, won't crash immediately.
WRONG. Prices are falling off a cliff. No one knows exactly what will happen, but it looks like prices will continue to fall for long time. These are just more manipulation of buyer emotions, to get them to buy even while prices are falling.

12.) The bubble prices were driven by supply and demand alone.
WRONG. Prices were driven by low interest rates and risky loans & good returns for investors in initial phases of boom in 2004-05.
Prices went up, interest rates went up & buyers savings went down. So prices are violating the most basic assumptions about supply and demand.

13.) There is lack of land.
WRONG. Ample of land is available & continue to be even in future in Pune. Sales volume are down. Even in Japan (small country with less land), prices went down. Current prices here are the same as that of 23 years ago. If we really had a housing shortage, there would not be so many vacant rentals.

14.) If you don't own, you'll live in a cheap neighborhood later.
WRONG. For the any given monthly payment, you can rent a much better house than you can buy. Renters live better, not worse. There are downsides to renting, such as being told to move at the end of your lease, or having your rent raised, but since there are thousands of vacant rentals, you can take your pick and be quite happy renting during the crash. There are similar but worse problems for owners anyway, such as being fired and losing your house, or having your interest rate and property taxes adjust upward. Remember, property taxes are forever.

15.) There's always someone predicting a real estate crash.
TRUE, yet irrelevant. There are very real crashes every decade or so. Even a broken clock is right twice a day.

16.) Local incomes justify the high prices.
WRONG. The mortgage should be more than your 3 years earning. It is much higher today. Most are already in danger/red zone.

17.) You have to live somewhere.
CORRECT. But that doesn't mean you should waste your life savings on a bad investment. You can live in a better house for much less money by renting during the down slide in RE.

18.) It's not a house, it's a home.
WRONG. Wherever one lives in it is home, be it apartment, condo, bungalow , mansion or house. Calling a house a "home" is a manipulation of your emotions for profit.

19.) If you don't buy now, you'll never get another chance.
WRONG. History proves otherwise.
Here's a beautiful quote from a analyst:-
"The real issue isn't whether you will be stuck being a renter all your life, she says. Its whether you'll get so scared about being shut out that you'll buy at the market's peak and be stuck in a property you can't afford or sell."

20.) It would take major economic recession or a major earthquake that wipes out this area in order for the price to fall by over 50%.
WRONG. Even today, if the prices fall by 50%, there will still be very few people who can buy at this levels due to uncertainty in jobs & most importantly high EMIs. Also, look at the rental rates for equivalent houses. Which loss per month is larger? EMI or rent?

contd....
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  • Formula man

    Originally Posted by rsatitkar
    Well I will write in precise points:

    2. At the same time I belive there was an opportunity in 2009 where prices came down by 15-20%, here I differ with most of the senior members. Agreed that may not be the only opportunity but, yes it was an opportunity.

    I disagree for the simple reason that not all prices dipped the way they should. If a 10L flat is quoted for 70L & then given for 50L, is it a good buy?? Compare the price with bottom price adjusted via inflation & not hyped prices. No point in saying that flat at Kharadi which costed 60L was available for 50L in 2009 for the simple reason that even 40L is not worth here, let alone 50L.
    3. Renting forever (or even 5+ year ) is not an option. You may call my thinking poor, old fashioned or whatever you wish. But this what I think. I differ a lot with senior members on this point.

    Personal opinion, so won't oppose. However, seen people saying on rent for 6-7 yrs & make 60%+ downpayment. Man, note that RE prices is Pune are again hyped up & real gain in RE will be far lesser than your income growth. So, in any case, you won't loose anything today if you don't buy now. Anyways, I agree with wiseman here, real ownership is only when you are free of EMIs:).

    4. Now comes buying at logical & affordable price. Yes we are advising people to buy at a price which is both logical & affordable. Affordable is still a quantifiable term which can be directly linked to buyer's income / savings. But how about logical price? When to call that price is at logical level, unfortunately it's very difficult to determine this & hence so far no one has given a quantified answer for a what a logical price would be?

    So simple man, rent/month x 200 or lets say even 300 max. Hence, if rent is 10k, the flat cost should be max to max 30L. Check out rents at Samrajya & see for yourself.
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  • Internal Adjustments

    Originally Posted by rameshyahoo
    Logic is possible if all parameters are equal. Here the end users is using all white money, whereas the builder is using black money to speculate and raise prices. Assuming the buyer had never paid tax on his income for 10 years he would have a substantial portion of money which could then provide for the down payment. What does the builder do ? Most of his income is tax free. He has 30% of tax savings every year. Add it up for 10 years and you will see how buyer can never keep up with quoted prices by the builder.

    Similarly person working in the Gulf/Singapore with a lifestyle at the purchasing power parity of one working in India in 10 years will have a bigger savings balance thanks to lower taxes. The only way out is to either join the builders club or go to a lower tax country

    Agreed. But note that even B-money is there to earn more money, it is not like just because it is B-money, it can go down the drain & no-one cares. Money is money, it has no colors!! So, even if builders use B-money, it is of no use until & unless buyers pump in white money to buy flats .

    As far as builders are concerned, the tax benefit was under income tax 80IB, & this has already been discontinued. It was valid only for projects sanctioned till 2007 & should complete by Mar 2011 (Earlier date was Mar 2010), with flat areas less than 1500 sq ft. I think builders made hay for few years till 2007 but good part was builders were encouraged for demanding more of white money so even buyers especially salaried class benefited as well. Now, if builders drastically show less income, the IT dept will get hold of them:D. So, in one way, those who made merry in these times but now want to show less income will be for toss:D.

    * PS:- The real purpose of giving the tax benefit of the Govt was to make housing affordable. So, they removed taxes thinking that builders will pass on this 30% (or atleast 15-20%) benefit to buyers which they did not. Anyways, the politicos got their cut as well from the builders.:bab (35):
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  • Originally Posted by realacres
    I disagree for the simple reason that not all prices dipped the way they should. If a 10L flat is quoted for 70L & then given for 50L, is it a good buy?? Compare the price with bottom price adjusted via inflation & not hyped prices. No point in saying that flat at Kharadi which costed 60L was available for 50L in 2009 for the simple reason that even 40L is not worth here, let alone 50L.

    Personal opinion, so won't oppose. However, seen people saying on rent for 6-7 yrs & make 60%+ downpayment. Man, note that RE prices is Pune are again hyped up & real gain in RE will be far lesser than your income growth. So, in any case, you won't loose anything today if you don't buy now. Anyways, I agree with wiseman here, real ownership is only when you are free of EMIs:).


    So simple man, rent/month x 200 or lets say even 300 max. Hence, if rent is 10k, the flat cost should be max to max 30L. Check out rents at Samrajya & see for yourself.


    Fine formula is there. So to which clearlly means that prices will have to crash more than 50%, so that they will be logical as per this formula. What is the likehood of that? I am not denying possibility of that happening but chances are very remote to be honest. Yes prices can sure dip but them going down by 60% is something very unlikely.

    Agreed that in today's date supply is much more than demand & still prices are high, hence there are chances for a correction. But at the same time I think market has some support becasue of peoples current salary levels (not just IT, Banks, Cent Govt etc). Hence even though rates start falling down there will be some support it will not be a free fall (unless something like sub-prime happens in India. Touchwood:)).

    Also agreed that Pune infra is pathetic as compared to many other cities & this makes Pune property rates look even more hyped. But that does not mean that rates in other cities are logical. They are hyped too. May be established infra make them look better than Pune.

    Also though I completely agree than Pune infra needs a big leap & buying with no or poor infra should be avoided. But only thing is if there is a correction in RE it has to be countrywide, rates correcting only in Pune becuase of poor infra is not likely.
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  • Gujarat sees 52% fall in home loan size

    "The average home loan amount in Gujarat has fallen. During January-June 2010, the average size of home loan amount has witnessed a fall of about 52% when compared to that in the same period in 2009.
    Bankers and developers say this fall can be attributed to two factors: increasing demand for affordable houses, which decreases the amount of loan; and the factor of cash component that has been introduced by some developers.
    As per State Level Bankers’ Committee (SLBC) quarterly reports, in the first six months of 2009, home loans worth Rs2,004 crore were disbursed to 16,436 accounts in Gujarat. During this period, the average housing loan per account stood at around Rs12.19 lakh.
    But during January-June 2010, home loans worth Rs1,886 crore were disbursed to 32,887 accounts. This brought down the average loan amount to Rs5.73 lakh per house, thereby making a fall of 52%."


    Link: http://www.dnaindia.com/india/report_gujarat-sees-52pct-fall-in-home-loan-size_1447804
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  • Aditi, I was actually looking for a property in Ahmedabad to invest...do you know something in the range of 10-12 lacs for a 2 BHK (about 1000 sq feet)?

    Checked new CG road but still it is around 15-20 lacs, and plush bunglows are costlier.
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  • Originally Posted by realacres
    I disagree for the simple reason that not all prices dipped the way they should. If a 10L flat is quoted for 70L & then given for 50L, is it a good buy?? Compare the price with bottom price adjusted via inflation & not hyped prices. No point in saying that flat at Kharadi which costed 60L was available for 50L in 2009 for the simple reason that even 40L is not worth here, let alone 50L.


    +1. The propagandists (aka Builder lobby) will always claim that the 2009 dip was one small opportunity, now that that also is gone, it's going to be up and upward journey for RE prices in Pune.

    Only time shall tell ...

    Currently, if 5K for Pune outskirts, how much for Aundh/Baner now?

    BTW, the so called posh areas were under the cloud-bursts yesterday.
    Wall collapses, knee-high water-clogged roads and houses, etc....

    And such areas command 1 Cr.+ for 2-Bhks…in the name of amenities, infra, etc.
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  • Originally Posted by rsatitkar
    Fine formula is there. So to which clearlly means that prices will have to crash more than 50%, so that they will be logical as per this formula. What is the likehood of that? I am not denying possibility of that happening but chances are very remote to be honest. Yes prices can sure dip but them going down by 60% is something very unlikely.

    Agreed that in today's date supply is much more than demand & still prices are high, hence there are chances for a correction. But at the same time I think market has some support becasue of peoples current salary levels (not just IT, Banks, Cent Govt etc). Hence even though rates start falling down there will be some support it will not be a free fall (unless something like sub-prime happens in India. Touchwood:)).


    If something can go 4x in 3 to 4 years it can as well come down by that rate.
    To say that 50% or 60% fall is unlikely is another way of enticing fear
    amongst buyers to buy.

    It may or may not go down, but as a buyer I don't care.
    I would buy only when I can afford, otherwise I'll look somewhere else.

    After all Pune is not the only so called civilized world!

    Also, why Builders always are back after how much people earn?
    Why can't they sell their product on actual costs and some decent profit margins?

    Why they expect people to become EMI slaves for 15 to 20 years just to server their greed?

    Aren't there other non-RE things to cater for with increase in the salary?
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  • This is actually little lower budget for West Ahmedabad. Recently a friend bought a 2bhk(1000+sqft) in 22-23L near motera stadium (under construction)
    But in 10-12, you can check out East part, specially the ones near SP ring road. Naroda, nava naroda / Nicole/Odhav/Isanpur etc. All are lower middle class areas. yI have not much idea about the areas nearby the place where GIFT city is coming up, but that will be quite good in future.


    Originally Posted by pcpune
    Aditi, I was actually looking for a property in Ahmedabad to invest...do you know something in the range of 10-12 lacs for a 2 BHK (about 1000 sq feet)?

    Checked new CG road but still it is around 15-20 lacs, and plush bunglows are costlier.
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  • Well, that area is still the north west and people are quoting like 20K-25K sq yard in these areas. Actually, if any good scheme (with a good developer ) is coming up in the East as well, I dont really mind as it is still around 5-7 kms from City Centre.

    Lets see when I travel again to Ahmedabad, but GIHED had a property show on October 1,2 and 3.
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  • Originally Posted by aditi sharma
    I have not much idea about the areas nearby the place where GIFT city is coming up, but that will be quite good in future.


    The GIFT site is 12 km from the Ahmedabad airport and near by Shahpur village. Can not confirm about the project status though.
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  • Forgot to mention about Godrej's township. The area is yet outskirts, but the construction here would be good. I dont know about availability though..

    But a common word: in Ahmedabad too, the rates are out of affordability, even there too the developers r planning Exhibits in Dubai n all that. so general sentiments r just not right. If you want for enduse, Ahmedabad can be a good option.



    Originally Posted by pcpune
    Aditi, I was actually looking for a property in Ahmedabad to invest...do you know something in the range of 10-12 lacs for a 2 BHK (about 1000 sq feet)?

    Checked new CG road but still it is around 15-20 lacs, and plush bunglows are costlier.
    CommentQuote
  • Originally Posted by aditi sharma
    Forgot to mention about Godrej's township. The area is yet outskirts, but the construction here would be good. I dont know about availability though..

    But a common word: in Ahmedabad too, the rates are out of affordability, even there too the developers r planning Exhibits in Dubai n all that. so general sentiments r just not right. If you want for enduse, Ahmedabad can be a good option.

    Yeh, well I am looking for investment, and Godrej is not open currently. Some builders in Ahmedabad do sell on Carpet+Wall, hence if I am paying for like 900-1000 carpet for a 12-15 lacs flat, its only costing me 1200-1300 rs a sq feet. At 700-800 rs of construction cost, thats really not a bad deal.

    But surely, there is no point "investing" at above 20 lacs in ahmedabad, I would want to do it in Bangalore at 2500 if I really want to !

    For me,a decent location and a decent scheme with -- 10-12 lacs in Tier 2 cities(ahmedabad/nagpur/chandigarh), 20-25 lacs in Tier 1 cities(all big except mumbai), is ideal for 2 BHK for 900-1000 sq feet. Mumbai is a different story all-together.
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  • I tend to agree with asdf2357 here although I do appreciate the guidance seniors provide to fellow members.

    I think this renting argument goes overboard many times. Its advised to rent as if renting/stock investment is the best medicine for every house buyer's woes. I beg to differ here though.

    1. If I rent a house (a big plush house in posh area for peanuts), I can still be kicked out by my landlord on a month's notice. I don't want to see myself running around for a new house to be rented in the same locality.

    2. I have school going kids. Although renting gives me the flexibility to rent anywhere in the city, it does not guarantee admission to a good school in the new area.

    3. When I rent a house I can not make any changes inside that house. Small things like sticking Alphabet charts/ cartoon characters on the walls, hanging my kids photo frames on the walls etc. What if my kids write something on the walls?? I don't want to restrict my kids from enjoying their childhood.

    4. My relatives & good friends live in a particular area and given a choice I would like to live in the same area. I do value their emotional and social support at times. Also I don't know if I'll be able to find good places to rent, good land lords in the same area forever. My kids have developed their own circle too. I consider it an important part of their upbringing.

    5. I do not want to keep on updating the address for my bank a/c, dmat a/c, Ration card, life/vehicle insurance policies, employer records, electoral rolls, outstation relatives etc. I have better things to do in life. I also travel abroad frequently and in case of some police clearance I do not want to visit multiple police stations for clearances. As I said I have better things to take care of in my life.

    6. The next place I rent might not provide me a parking facility. I love my vehicles just as I love my family members.

    So basically its not easy to find a place to rent, in the same vicinity as my relatives, that is owned by a "good" landlord, has a parking lot etc etc. Even if I get a place, a sword (getting kicked out) will always be hanging over my head.

    So a big NO to renting for above reasons (I haven't even touched the prestige/ego boost ones own home has to offer. Lets leave it for some other day).

    Coming to Stock Investments:
    Although I agree with majority of it...
    1. Stock investments are liquid - I agree. but aren't they more volatile than RE? Does RE rate fluctuate 10-20% over few days?? So even before one puts a SELL order, the stock might have crashed.

    2. Do we have to monitor RE rates every hour/day as we do in case of Stocks? What if its only seller's market? Something that can happen to RE over a long period of time can happen to a stock in a matter of few hours.

    So Renting/Buying/Stocks, come with their pros and cons. In my view they complement each other really well.

    Here's an analogy...

    We as a family eat home cooked food most of the time. On weekends though we go out to a restaurant/Friend's place etc. We also buy "ready to cook" food packets as they come handy when we reach home really late on weekdays or my spouse is out of town.

    Just like we make different arrangements for food for different days, one should have investments in different assets that will come handy under different situations. If money was the only criteria, "ready to cook" food packets would never offer any value. But surprisingly they do. When I reach home late, I just open one of the packets and heat it for a couple of minutes. Whoa!! I am ready to eat. Although it comes at a price, the packet saves me my time and health.

    Same way one must invest in all "affordable" assets including real estate. Liquid funds/FDs for liquidity, stocks/RE for long term ..g0ld for hedging, various policies to cover risk etc. Basically spread your risk and don't put all your eggs in one basket. Let me be very clear here. This does apply to RE too. So if you are stretching yourself to pay the EMI. I would say wait till the time you can really "afford" it. Also cover your risks first e.g. Life/Vehicle insurance etc.

    But if one can "afford" a house and if it fits in the overall scheme of things then why not? Just go for it.

    ***Its not necessary if some real, wise men see that house/builder/locality as good/VFM or not. They are just giving their viewpoints here. They are unaware of your personal circumstances. So take their advice but listen to your heart and head before taking a decision.

    And please please please do listen to women in your life (mother, spouse/partner, daughter, sister, friend). Do not switch them off for whatever reason. They are the ones who are going to stand by you in sunny as well as rainy season. Real wise men will be mostly restricted to commenting on this forum.

    This post is not to offend anybody in particular. Its just that I thought it was high time to balance the argument.

    Peace!!!
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  • Nice post ...

    Originally Posted by rocknrolls
    I tend to agree with asdf2357 here although I do appreciate the guidance seniors provide to fellow members.

    Peace!!!


    Altogether a nice post rocknrolls!

    In one of my recent post I too had mentioned that, after considering everything (including appropriate level of loan), if it feels right, go ahead and buy it!

    This is similar to the last para of yours where you had mentioned "take advice, but do what your heart tells you to"! We only added the advice ... stay within your limits on debt! :D

    For those of you who wish to remain renting, let me also assure you that, despite all the problems that rocknrolls listed (which is faced by renters), if you look after the rented place like you would your own, there is no better friend than your landlord. I vouch for that from personal experience, since I too travel abroad and have faced minimal problems about police verification, change of address, etc, etc because I have stayed in same rented place (for more than a decade) and at times the owner even forgot that he had to check if I was paying the rent regularly. Used to repair, maintain, pay taxes and inform him about everything including deductions and owner was only too glad that he had such a tenant. Also helped keep the rent lower than market since he didn't want to let me go! :D:D

    Hear out others carefully but take your own decisions.

    cheers
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  • Replied in blue

    Originally Posted by rocknrolls

    1. If I rent a house (a big plush house in posh area for peanuts), I can still be kicked out by my landlord on a month's notice. I don't want to see myself running around for a new house to be rented in the same locality.
    You can't be just kicked out if have rent-agreement. Besides it depends on your relationship with landlord. Just like company notice-period, rent's notice-period can be increased. I waited for almost 2.5 months to move to better place. No problem what-so-ever.
    Remember, just like you want good landlords,
    Landlords want good people to rent their house.


    2. I have school going kids. Although renting gives me the flexibility to rent anywhere in the city, it does not guarantee admission to a good school in the new area.
    There should not be problems finding decent home in the vicinity of school. Besides most good school ply buses. Right?


    3. When I rent a house I can not make any changes inside that house. Small things like sticking Alphabet charts/ cartoon characters on the walls, hanging my kids photo frames on the walls etc. What if my kids write something on the walls?? I don't want to restrict my kids from enjoying their childhood.
    If kids draw on wall, it can be repainted and repaired. Right?

    4. My relatives & good friends live in a particular area and given a choice I would like to live in the same area. I do value their emotional and social support at times. Also I don't know if I'll be able to find good places to rent, good land lords in the same area forever. My kids have developed their own circle too. I consider it an important part of their bringing up.
    Most of pune city-dwellers live in pigeon-holes. One will find many such holes in the same area.

    5. I do not want to keep on updating the address for my bank a/c, dmat a/c, Ration card, life/vehicle insurance policies, employer records, electoral rolls, outstation relatives etc. I have better things to do in life. I also travel abroad frequently and in case of some police clearance I do not want to visit multiple police stations for clearances. As I said I have better things to take care of in my life.
    Most can be updated online. Besides rent agreement can be made to good use here.

    6. The next place I rent might not provide me a parking facility. I love my vehicles just as I love my family members.
    Can't say about parking in general. I am getting free parking.


    And please please please do listen to women in your life (mother, spouse/partner, daughter, sister, friend). Do not switch them off for whatever reason. They are the ones who are going to stand by you in sunny as well as rainy season. Real wise men will be mostly restricted to commenting on this forum.
    Don't want to see wife (especially my mother) suffer in financial difficulties coz I screwed up :o

    Finally, you are not the only person living on rent (must be a billion) and there're good laws to safe-guard interests of rentee/tenant.
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