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. 🙏
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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.
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
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
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. 🙏
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
That’s bullshit amount of money for renting a room. Doesn’t make sense at all. Rethink, search and plan your accommodation to a different less expensive place dude.
Thanks for sharing your thoughts. Yes, I decided not to go the apartment.
Will look for not very expensive shared apartments.
If your monthly net income is more than 5-6x of the rent, then go for it. Why would you want to spend your 20s alone in your room? Have fun
My salary is enough to afford the apartment, but I feel I should manage money properly and responsibly.
Thanks for sharing your thoughts. 🙏
Do not stay if it is expensive for you as It's just not Rent ...
There will other expenses too when you share a house with someone .. there will peer pressure on eating out and going to lavish travels and spending on things you might not need but you will feel it weird at times as there will no fit... Just sharing my experience...
I had similar experience when I started my work ... My friends wanted me to eat at expensive places ... Travel to great destinations and spend crazy on experiences.. i could not afford it that time .... I was upfront to tell them I cannot afford what you guys want...
I still have those friends and they are great .. i do think i made a better decision at that time ...
Thank you so much for sharing your thoughts. 🙏
I decided not to go with them, we had some bitter moments in between us.
Good for you man... Be Friends dude.. don't let that relationship sour ... But i would also be upfront about my needs, wants and situation.. if i were you ..
Have a breakable lease for sure and go for it. I believe staying at the comfort of home makes you lose a lot of qualities that you should've learnt on your own
Seeing how uncertain future can be, best approach would be to save that 32k in rent and be with parents.
I am nearing my 40s and I will tell you one thing which I regret not having the liberty of.
I regret not being able to spend my time with my parents during their prime years, having no remote opportunity then.
There are 2 things based on which you can make the decision
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Will staying with your friends physically help you additionally in better building of your network or learning opportunities rather than being at home with parents?
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Do you think that online learning opportunities can equally help you learn as well as interact with other people(Grapevine, LinkedIn)?
Agar masti ke liye hai, toh pls avoid. Been there, done that, not useful and comes with regret at a later stage of life.