Bengaluru home prices leave Rs 90 lakh income couple confused. Buy or rent? How much income needed for ownership

Owning a home in Bengaluru has become increasingly difficult as property prices continue to rise across several parts of the city. While salaries have also gone up for many professionals, the gap between incomes and home prices continues to make buyers think twice before signing up for long-term home loans. A recent Reddit post by a Bengaluru couple earning around Rs 80-90 lakh annually has made people share different views on when buying a house actually makes financial sense.

The couple, both working professionals, said they had started seriously looking at buying a flat in Bengaluru. However, after comparing property prices with the financial commitment involved, they were left wondering whether purchasing a home was the right decision at this stage.

"We’ve started thinking seriously about buying a place in Bangalore, but every time I run the numbers, it feels difficult to justify," the Reddit user wrote.


They explained that apartments in the areas they would actually like to live in are priced between Rs 1.5 crore and Rs 2.5 crore, which would mean paying large EMIs for the next 20 to 30 years.

"On paper we can afford it, but at the same time renting still seems financially attractive, especially when rental yields are so low compared to borrowing costs," the user added.

The couple then asked fellow Reddit users whether there was a practical income level or rule of thumb that makes buying a home worthwhile. They also wondered whether keeping the EMI below 30-35% of take-home income was a reasonable benchmark.

Income alone is not enough, many users say

The post quickly attracted responses from people who had either purchased homes recently or were still choosing to rent.

Many users said income should not be the only factor in deciding whether to buy. According to them, emergency savings, long-term plans and financial stability are equally important.

One user suggested, "EMI <= 30% is a great starting point. Second would be to have 6 months of EMI as safety net against loss of job."

Another advised buyers to arrange a large down payment before taking a loan. "Have 60% - 65% of net cost (including registration, interiors etc) in hand and borrow the remaining 35% - 40%."

Several commenters also felt buying should only be considered if someone plans to stay in Bengaluru for a long period.

"Buy if you are planning to stay in blr for more than 10 years," one person wrote.

Another echoed a similar view, saying, "Depends on why you want to buy. If you're looking at it as an investment, better not. There are better ways to invest money. If you want to own a home, consider it a lifestyle expense."

Job security became another major concern

The discussion also shifted towards employment risks, especially for professionals working in the IT sector.

One commenter cautioned, "Rule of thumb is if you are in IT then don't buy. Your 90L income can become 45 or 0 in an instant."

Another user added, "Buddy, unless you have niche skill sets you can get the axe anytime."

Not everyone agreed with that argument. Some felt that waiting for complete job security could mean postponing homeownership indefinitely.

One Reddit user wrote, "Ignore the 'what if layoffs' comments. That would be there anyday. In that sense- any Pvt employee would never buy a flat. If you have saved up atleast 6months of funds - which includes all these expenses, just go and buy."