proton

Is it worth it to pay 32k in rent for a room in bangalore if you work remotely ?

Recently my friends moved to 4 BHK apartment near Domlur. The total rent is coming to 1 Lakh for unfurnished apartment, it has some really good amenities.

All 3 of them have offices nearby, and I work remotely for a US startup. After, furnishing and one time setup, just rent is coming to 32k. I am unsure, whether moving there would be worth it or not for me.

I really enjoy company of my friends, but the rent for me is expensive + 6 months deposit. I can definitely afford to pay that much rent, but not sure whether it’ll be good decision or not because of market conditions and tons of uncertainties. I cannot back out if I say yes.

I am super confused, one side I want to stay with friends and on other side rent and deposit is worrying me.

Would love to hear thoughts of you all. 🙏

17mo ago

ElonMusk_

X.com17mo

One of the reson for increase in rent especially in Bangalore is these early 20s bachelors earning min 20 to 30LPA, who think when splitted rent into 2 to 3 flatmates it will be less than 30K. They don't know the struggle once they get married and is a single earner in the family.

HereWeGoAgain

Slice17mo

So you're assuming that their salary will remain constant for next 5-10 years

potatomato

Fintech Startup17mo

Yes these freshers with inflated CTCs agreeing to inflated rents is a big issue!

BengaluruLandLord

Stealth17mo

No. Too much. Friends sure, but you will be thankful later if you save that money. No matter what people say, throwing away money is never acceptable and this case make no mistake you are throwing it away. If you wanna live in Bangalore in a good area, you can certainly choose HSR where you will get a decent 1BHK for 17-20k. That's a pretty posh area as well. So think wise

potatomato

Fintech Startup17mo

Landlord sar has spoken! 50/sqft is insane!

proton

Stealth17mo

The solid advice 🙏

potatomato

Fintech Startup17mo

This fresher mentality is exactly why my landlord was convinced he could get 60k inclusive for a 2 bedroom in varthur!

proton

Stealth17mo

Yes, big problem. People need to be more responsible with their money.

BiryaniEnthu

Stealth17mo

Question rather

Why are you in bangalore if the setup is remote? Friendships are good but money >>>>

proton

Stealth17mo

True, I deceived to look for not very expensive place. Bangalore has some really very good people.

TechBro

Uber17mo

Depends on your salary.

If you’re earning less than a lakh per month then it sounds tight; but if you’re making 2-3 lakhs a month then easily doable

And even beyond that this is a personal question - do whatever you want; whatever you value matters. As a bachelor you have some luxury to overspend on whatever you really like/want

proton

Stealth17mo

My salary is enough to afford the apartment, but I feel I should manage money properly.

I have freedom to work remotely, living in bangalore was my choice which is good. But the renting villa sounded burning money for no or some reason.

Thanks for sharing your thoughts. 🙏

TechBro

Uber17mo

It’s fine man, figure out what things do you value in life and spend money on that - you might save 2-3 lakhs a year by not spending on rent; ask yourself, what are you going to buy in next 5-10 years using this money? What else are you going to spend this on? If there is nothing, then imo you should spend this on rent

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