Rent vs buy debate: Gurgaon-based CEO says your first home gives you something no Excel sheet can calculate. 'Your landlord is still your boss...'

The decision to buy or rent a home is often reduced to a simple financial calculation. For many people, however, a home can represent something far beyond its price or investment value. Gurgaon-based CEO Jasveer Singh recently took to X to share his perspective on the long-running rent-versus-buy debate. While financial experts often compare home-loan costs, rental yields, appreciation and SIP returns, Singh believes the first home carries an emotional value that cannot be captured in an Excel sheet. He argued that owning a home can bring security, control, permanence, pride and a sense of belonging, particularly for people who have moved from smaller towns to larger cities.

‘You can have crores in your bank account, but…’

Singh began by addressing the familiar debate over whether people should buy a house or continue renting while investing their money in options such as SIPs and mutual funds. According to him, buying a first home is not simply about purchasing another material possession. He believes it can give people a sense of pride and make them feel that they have achieved something significant in their lives.

For someone who migrates from a small town to a major city, this feeling can become particularly important. Singh pointed out that a person could spend 10, 15 or even 20 years in a city, build a successful career or business and accumulate substantial wealth, yet still feel like an outsider while living on rent. He recalled the familiar question, “Achha, kahan rehte ho? Rent pe?” and argued that such a remark can reinforce the feeling that someone does not completely belong to the city.

Buying a home can create a sense of belonging

Singh said the equation changes once a person purchases a home. Instead of simply living in a city, the homeowner can feel that they have a permanent address and can confidently say, “I belong here. This is my home.” This sense of belonging, he suggested, is one reason the rent-versus-buy debate cannot always be reduced to returns. Singh criticised the idea that people should automatically avoid buying a home because investing the same money elsewhere could potentially generate better returns. In his view, a first home is not only an investment, and constantly calculating its value through spreadsheets overlooks the emotional side of home ownership.

A home can offer security and control

Another major point in Singh’s argument is security. People living on rent can find another property if their landlord asks them to vacate, but the process can still mean packing belongings, moving furniture and rebuilding their daily lives somewhere else.He argued that renters may therefore never feel completely in control of their living situation.

That uncertainty can even influence how people use their homes. Singh said tenants may hesitate before buying expensive furniture or making major changes because they could have to move later. Painting the walls, modifying the kitchen or building something exactly according to personal preferences may also feel different when the property belongs to someone else.

‘Your landlord is still your boss’

Singh also highlighted the relationship between tenants and landlords. He argued that tenants often need to maintain a good relationship with their landlord because a disagreement could potentially result in a request to vacate the property. He extended this argument to everyday family life, saying that even when parents visit, tenants can sometimes feel as though they need approval from a landlord in the place they call home.

Singh also referred to apartment complexes where separate groups may exist for homeowners and tenants. He suggested that being excluded from an owners’ group can reinforce an uncomfortable distinction between those who own property and those who rent.

Owning a home means making it your own

For Singh, one of the biggest differences is the freedom that comes with ownership. A homeowner can choose the colour of the walls, modify the kitchen, change the layout where permitted and select furniture without worrying that a landlord may ask them to leave. He described this as removing a certain insecurity and giving people greater control over their surroundings.

A roof over your head during uncertain times

Singh also connected home ownership with financial and personal uncertainty. He pointed to situations such as losing a job, a business collapsing, another pandemic or an economic downturn. In such circumstances, he said, owning a home can provide reassurance because there is still a place to live. For him, the knowledge that nobody can simply tell you to pack your bags and leave creates a different kind of peace.

The value, therefore, is not limited to rental income, appreciation or investment returns. It is also about having an address and somewhere that feels permanently yours.

‘This is my home’

Singh believes the emotional value becomes especially clear when someone from a person's hometown comes to visit. Instead of introducing the property as an apartment they rent or someone else's property where they happen to live, a homeowner can simply say, “This is my home.”

He argued that this feeling cannot be measured through rental yield, property appreciation, SIP returns or a rent-versus-buy calculator. In his view, a first home represents security, control, permanence, pride, identity and belonging. He described it almost as a form of insurance against life going wrong, because ownership can provide a sense of stability when other aspects of life are uncertain. For Singh, the first home is therefore about more than buying property. It represents the ability to finally say, “I belong here.”