₹1.35 lakh monthly EMI in Bengaluru: Family's Whitefield home-buying experience sparks deb

Buying a home is often seen as a major life milestone, especially for middle-class families. But a viral post on social media has reignited a long-running debate about whether purchasing an expensive property is always a sound financial decision. The story, centred on a family in Bengaluru, prompted users to discuss rising home loan burdens, property values, and the difference between buying a home to live in and buying one as an investment. Family's home-buying journey sparks discussion The post quickly attracted reactions from users, (Representational Image) The story was shared on X by user Manikanth Devarakonda, who described a family's experience after purchasing a 3BHK apartment in Whitefield, Bengaluru. According to the post, the family took a ₹1.8 crore home loan to buy the property after being told that the area was rapidly developing. To manage the financial commitment, they stretched their budget significantly. The post claimed that the family paid an EMI of ₹1.35 lakh every month. The father reportedly worked late hours, while the mother took on additional work to help meet expenses. Family holidays were put on hold, and the children grew accustomed to spending limited time with their parents during the week. The family continued making sacrifices for five years, believing that the investment would eventually pay off. However, when possession day finally arrived, the father allegedly checked recent sale prices in the same housing society and found that the property's value had fallen by 18 per cent compared to what they had paid. The post concluded with a question that resonated with many users online: “Did we buy a home, or just an expensive way to impress people?” The post quickly attracted reactions from users, many of whom questioned the claim that property prices in Whitefield had declined. One user wrote, "When did property price in Whitefield fall by 18%?" Another commented, "Whether they were buying a home or a property for investment purposes? That's the first question one should ask. If you are investing in a home, you don't look at the resale value the moment you get possession." A third user said, "The bigger question is whether the family bought the house for living or for investment returns. A home can be a poor investment and still be a great life decision." Others pointed to Whitefield's property market performance. "If you bought an apartment in Whitefield around 2020-2021, you would likely have seen the strongest residential property appreciation," one user claimed. Some users remained sceptical of the story altogether. "Lol 18% down in Whitefield? Where? Which area, which property?" one person asked. Another user reflected on the emotional side of home ownership, writing, “Home is the one thing where people go lavish. Mainly the middle class because they feel building one home is achieving their life goal.”