A man has shared his troubling experience related to buying a Rs 1.5 crore flat on a salary of Rs 25 lakh. He revealed that his financial situation has deteriorated over time due to escalating monthly loan payments, decreased income, and surprising repair costs. The individual posted his concerns on Reddit’s r/personalfinanceindia, where he detailed his regrets regarding the property acquisition made about a year ago.

Initially, the man enjoyed an annual income of Rs 25 lakh in 2024, which later increased to Rs 32 lakh in 2025. However, unforeseen developments within his business have triggered a significant downturn, leading to a drastic reduction in his monthly earnings linked to a commission structure. He described that his take-home salary now barely manages to cover his monthly home loan EMI along with essential living expenses.

Realising the need to supplement his income, he is considering starting a side business. He expressed that, upon reflection, waiting to purchase the apartment would have likely been a more prudent choice.

Unexpected Housing Costs and Financial Strain

In addition to the burdens of the home loan, the resident has faced unforeseen costs associated with maintaining the apartment. Since moving in, he has incurred approximately Rs 2.5 lakh in society maintenance and structural repair expenses. Notably, plumbing issues have also arisen, with the repairs estimated to require an additional Rs 50,000.

The man’s emergency fund has significantly shrunk to just Rs 5 lakh. While he has another Rs 10 lakh invested across mutual funds and Public Provident Fund (PPF), he is hesitant to liquidate these investments unless absolutely necessary, indicating the strain on his financial situation.

In his post, the man expressed feelings of being overwhelmed and sought guidance from fellow Reddit users, sharing his apprehensions about the challenges of selling the apartment shortly after its purchase.

Community Responses and Advice

The responses to his post varied, with several users offering practical advice as well as comfort. One commenter highlighted how hindsight can skew perceptions, noting that the individual might have felt differently had his business prospered. Others encouraged him to consider selling the property to ease his financial burden, stating, “Sometimes, it’s best to cut your losses.”

Several users advised him to prioritise selling the apartment and closing the loan, as doing so could alleviate his current financial stress. Comments also mentioned that if any funds remained post-sale, they could bolster his emergency savings.

Some participants highlighted general financial planning principles, suggesting that allocating more than 15-20 per cent of monthly income towards EMI can be detrimental. They emphasised the importance of ensuring disposable income before committing to property purchases, noting that while home ownership is a common aspiration, careful financial consideration is crucial.

Long or Short, get news the way you like. No ads. No redirections. Download Newspin and Stay Alert, The CSR Journal Mobile app, for fast, crisp, clean updates!

App Store –  https://apps.apple.com/in/app/newspin/id6746449540 

Google Play Store – https://play.google.com/store/apps/details?id=com.inventifweb.newspin&pcampaignid=web_share