Can Rs 1.5 lakh monthly salary afford to buy a home? 30-year-old with Rs 22 lakh savings reopens rent vs buying debate

A 30-year-old professional earning Rs 1.5 lakh a month after tax and sitting on savings of over Rs 22 lakh has turned to Reddit to figure out if she is actually ready to buy a house, or just feeling pushed into it. The post, which has drawn wide discussion, lays out a situation many young earners in metro cities are quietly dealing with — stable income on paper, but uncertainty around big long-term commitments.

Income strong, but questions around timing

In her post, the woman shared that her salary recently doubled after switching jobs. She currently earns Rs 1.5 lakh per month and manages to invest roughly half of it. Her assets include around Rs 10 lakh in fixed deposits, Rs 5.5 lakh in mutual funds, and another Rs 5–6 lakh in physical gold, along with around Rs 60,000 in gold ETF holding.

She also mentioned that while she has health insurance in place, her emergency fund is still under construction and she does not yet have term insurance.


Despite paying just Rs 17,000 in rent, her family has been urging her to purchase a home soon. Explaining the pressure, she wrote, “The pressure for buying is because my family has been saying I will only postpone and then will not be able to afford a house later.”

What she can afford right now

The buyer is looking at a budget of Rs 50–60 lakh, which would likely get her a 1BHK apartment in Bengaluru. She also considered buying a larger 2BHK in a Tier-2 city like Mangalore, but is unsure if that fits her long-term plans.

She admitted that future life decisions are unclear at the moment. “I thought of saving for a bigger down payment for a bigger home at a later stage however, because marriage hasn't happened yet and the whole thing being uncertain I don't want to postpone anything,” she explained.

At the same time, watching friends buy homes has added another layer of anxiety. She noted that people around her are already investing with partners, which is “leaving me in FOMO.”

Reddit users advise caution

Most responses on the thread leaned towards waiting instead of rushing into a purchase.

One user pointed out that buying a smaller home now and upgrading later may not work smoothly. “Buying a house now and selling it after 3 years to buy a bigger one is messy and you'll not even get a good deal,” the comment said, suggesting she invest the potential EMI amount into equity funds instead.

Another user highlighted life-stage uncertainty, writing, “If you are planning to get married in a year or two, why not wait a bit? You and your future husband could buy a bigger home together.”

Job stability also came up repeatedly, especially since she works in a startup. One comment warned, “Home should be bought only when you have job stability. Imagine you not having a job and having to make EMI.”

Financial gaps flagged

Several users pointed out that while her income and savings are solid, a few basics are still incomplete. One response noted, “Your emergency fund is still in progress, term insurance is missing; these are higher priority than a home right now.”

Others stressed that taking on a large EMI in an uncertain job environment could become a burden. “In this layoff era it's a stupid decision to take a major loan without having a solid backup,” a user wrote bluntly.

There were also reminders that affordability is not just about eligibility for a loan. One suggestion said, “EMIs not above 49% of income” and that real estate exposure should be limited relative to overall net worth.

The discussion also reopened the classic rent versus buy argument. Some users argued that renting offers flexibility, especially when future plans are unclear. “If you're disciplined and actually invest your money instead of spending on show-off, then renting makes more sense. You have the flexibility to move anywhere,” one comment read.

Another comment summed up the broader sentiment on the thread: “Don’t give in to fomo. Not worth it.”

Some comments stated that apart from the EMI itself, first-time homebuyers often underestimate the additional costs involved in property purchase such as stamp duty, registration charges, brokerage fees, and ongoing maintenance expenses. In most home loans, a major portion of the EMI in the initial years goes towards interest rather than principal repayment, which can slow down equity building.

Lenders also consider credit score, repayment history, and existing liabilities while deciding loan eligibility and interest rates, which can significantly impact long-term cost. In addition, real estate is not always a highly liquid asset, meaning selling a property quickly at a desired price may take time depending on market conditions.