This Tenant In Pune Made ₹2cr By Not Buying A Home | The Tenant
Summary
TLDRIn this episode of 'The Tenant,' we visit a family living in a 3-bedroom apartment in Pune's Viman Nagar, a premium, well-connected location. Despite owning multiple properties, the family rents this home for its convenience and proximity to work and amenities. They discuss the decision to rent versus buy, highlighting the financial benefits, freedom, and lifestyle advantages of renting. The episode also explores the challenges of small-town mindsets around renting and the evolving perspective of the family on real estate, personal finance, and living in Pune.
Takeaways
- 🏡 The family is staying in a rented apartment in Viman Nagar, Pune, despite owning multiple properties, due to its convenient location near work and the airport.
- 🚶♂️ One of the primary reasons for renting in Viman Nagar is the short walking distance to work, saving time on commuting.
- 👨👩👧👦 The family consists of four members: husband, wife, daughter, and mother-in-law, living in a spacious 1250 sq ft, three-bedroom apartment.
- 📊 The couple believes renting provides financial freedom and investment opportunities. The husband has doubled the family's financial portfolio from ₹2 crores to ₹4 crores in two years by investing rather than purchasing property.
- 🏘️ The wife mentioned the initial mindset block of living in a rented home, especially coming from a small town, but exposure to city life and shows like 'The Tenant' helped change their perception.
- 👶 The living space is toddler-friendly, and the family uses the apartment's open spaces for their daughter's activities and meals.
- 👩🍳 The mother-in-law spends most of her time in the kitchen, cooking homemade meals, as the family prefers to avoid outside food.
- ✈️ One downside of living in Viman Nagar is the noise from the nearby Pune airport, which has recently expanded with a new terminal serving more domestic and international flights.
- 🌳 The couple appreciates the quality of life in Pune, enjoying the greenery, space, and slower pace compared to Mumbai.
- 💰 The family pays ₹42,000 per month in rent with a deposit of ₹120,000, and they plan to continue renting for at least the next two years due to the convenience and financial benefits.
Q & A
Why does the family stay on rent despite owning multiple properties?
-The family stays on rent because the apartment is close to the husband's office, making commuting easier. The location, Viman Nagar, is also well-connected and convenient for travel, particularly to the airport, which is important for the husband's frequent flights.
What are some of the key features of the apartment?
-The apartment is 1250 square feet, with three bedrooms. It has a lot of open space, natural light, and a large kitchen. The apartment's spaciousness and airy nature are highlighted as important features.
How did the family react to moving into a rented apartment?
-Initially, there was resistance, especially from the mother, due to traditional mindsets favoring property ownership. However, the husband convinced the family by showing the benefits of convenience, reduced commute time, and financial flexibility from not investing in real estate.
What role did 'The Tenant Show' on YouTube play in changing the family's mindset about renting?
-Watching 'The Tenant Show' helped the family, especially the mother, to see how other people also rent properties despite having the means to own homes. This exposure helped broaden their perspective on renting versus buying.
What is the family's favorite part of the house?
-The living room is the most used part of the house, especially for their toddler who spends a lot of time there. The husband enjoys sitting on the L-shaped sofa to relax or watch TV.
What did the husband consider the biggest benefit of living on rent instead of buying?
-The husband emphasized the financial benefits of renting, explaining that the money saved on buying property was instead invested in financial markets, which saw significant growth over two years. This allowed their family's portfolio to grow substantially.
How did the mother's opinion about renting change after living in Viman Nagar?
-The mother initially struggled with the idea of renting but gradually became more comfortable as she enjoyed the freedom and convenience of living in Viman Nagar, where everything is walkable and easily accessible.
What is one downside of the apartment's location in Viman Nagar?
-One downside is the noise from the nearby airport, with frequent airplane noise throughout the day and night. However, the family also takes pride in the new terminal that recently opened at Pune Airport.
What future plans do the couple have regarding property ownership?
-The couple plans to continue renting for the next two years and is not in a hurry to buy a home. They appreciate the flexibility and financial freedom that renting currently provides them.
How much rent does the family pay for the apartment?
-The family pays ₹42,000 per month for the apartment, with a deposit of ₹120,000, equivalent to three months' rent.
Outlines
🏠 Introduction to the Tenant Family in Viman Nagar
The episode introduces the host in Viman Nagar, Pune, a premium location. The tenant is a family that owns multiple properties but still chooses to rent. The host meets the family—Rahul and his wife Rupal—who explain that they stay in this rented 1250 square foot, three-bedroom apartment due to its proximity to Rahul's work. Despite owning homes elsewhere, they prefer renting for convenience and location.
🔍 Why a Family that Owns Multiple Homes Chooses to Rent
Rahul explains that even though they own multiple homes, they rent because the location is close to his office and the airport, which he frequently uses. They prefer Pune’s slower pace compared to Mumbai, which influenced their decision to settle here. Initially, both Rahul and his mother struggled with the idea of renting due to their small-town roots, where owning homes is considered essential. Over time, they accepted it, largely due to the benefits of convenience and proximity to work.
🎥 Impact of Watching 'The Tenant' Show and Mindset Shift
Rahul describes how watching episodes of 'The Tenant' show on YouTube helped change their mindset about renting. Seeing other tenants paying significant amounts for rent in cities like Mumbai made them realize that renting can offer freedom. The couple talks about how they’ve adapted to this lifestyle, with their toddler having plenty of space to play in their spacious living area and their kitchen being central to family life. Despite initial resistance from Rupal's mother, they’ve come to appreciate the benefits of renting.
🚪 Tour of the Apartment and Family Adjustments
The host is given a tour of the apartment, starting with the common bathroom and the largest bedroom, which is used by Rahul’s mother. They chose this apartment for its spaciousness, natural light, and storage capacity. Rupal shares how the family had to adjust from their previous home, which had modern amenities, to this slightly older apartment. The apartment’s family-friendly environment and proximity to conveniences have made it easier for them, especially with their young child.
📈 Financial Strategy: Renting Over Buying
Rahul shares his financial rationale for renting rather than buying. By not tying up money in a home purchase, they’ve been able to grow their financial assets significantly, doubling their portfolio in two years. Rahul explains that had they bought this apartment, they would have missed out on substantial gains in the stock market. His mother now understands and supports this decision as she sees the financial benefits of investing rather than owning a home in this location.
💻 The Work-from-Home Setup and Challenges
The couple's third bedroom serves as a home office, where both Rahul and Rupal work remotely at times. While they appreciate the setup, it occasionally becomes inconvenient when both are on calls simultaneously, forcing one of them to relocate. They discuss the city’s infrastructure challenges, such as delayed airport development and minimal metro lines, but they’ve grown to appreciate Pune’s natural advantages, such as its climate, despite these man-made issues.
📊 Renting Costs and Future Plans
Rahul and Rupal reveal that they pay ₹42,000 per month in rent, with a deposit of ₹1,20,000. Initially, Rupal's mother was shocked by the rent amount, but they’ve since grown accustomed to it. Despite the option to buy a home in the future, they are content with renting for at least the next two years due to the flexibility and financial freedom it provides. They plan to continue living in Viman Nagar until their daughter starts school, at which point they may reconsider buying.
🚆 Report Card: Evaluating Viman Nagar’s Connectivity and Lifestyle
The episode concludes with an assessment of Viman Nagar as a premium location, well-connected to Pune’s major hubs like Kharadi and Kalani Nagar. While metro connectivity is just starting and the railway station is relatively close, the area offers a vibrant lifestyle with cafes, schools, and other amenities. Despite its limited building amenities, the area is appealing to those who are willing to pay for convenience and want to be near Pune's economic activity.
Mindmap
Keywords
💡Renting
💡Viman Nagar
💡Quality of Life
💡Investment Strategy
💡Commuting
💡Airport Proximity
💡Generational Mindset
💡Amenities
💡Financial Growth
💡Pune Infrastructure
Highlights
Introduction of Viman Nagar as a premium location in Pune.
Family owns multiple properties but chooses to stay on rent for convenience and proximity to work.
The apartment is a spacious 1250 sq. ft. 3-bedroom unit with a lot of natural light and air.
The family consists of four members: husband, wife, mother-in-law, and toddler.
One major reason for staying on rent is the close proximity to the husband's office, which is within walking distance.
Mother-in-law initially had reservations about renting, coming from a traditional mindset where owning property was prioritized.
The Tenant Show on YouTube helped change the mother-in-law's mindset regarding renting, showing that many people pay high rents in premium areas.
The toddler's favorite spot in the house is the living room, which has seen her growth from crawling to running.
The kitchen is a central space, especially for the mother-in-law, who prefers cooking everything from scratch and avoids outside food.
The apartment was chosen without prior family approval, which initially caused some resistance but was later accepted.
The family enjoys the convenience of Viman Nagar, where everything is walkable, including cafes, malls, and the airport.
A key drawback of living in the area is the noise from the nearby airport, which has become busier with a new terminal.
Financially, the husband prefers renting and investing in the stock market, which has doubled the family's portfolio in two years.
The apartment's rent is INR 42,000 per month with a deposit of INR 1.2 lakhs, which initially shocked the mother.
The family plans to stay on rent for the next two years, enjoying the flexibility and convenience of the location before considering buying a home.
Transcripts
[Music]
[Music]
in today's episode of the tenant I'm in
Pune in Pune I'm in viman nagar a
premium location that's well connected
to the major economic hubs of the city
our tenant today is a family that owns
multiple properties but still stays on
rent why do they do that what works and
what doesn't let's meet
[Music]
them hey hi R good to see you hi good to
see you welcome to my home okay this
looks big oh yeah uh meet my wife rup hi
rup okay so firstly how big is this
apartment uh we talking about okay so
I'll take that question so it's around
1250 ft and three-bedroom apartment and
as you can see it's a huge huge
apartment open space all around Airy and
light okay so yeah mean 1250 ft for
someone coming from Mumbai is Big yeah
okay how many how many people stay here
so it's just the four of us uh my
husband me uh my mother-in-law and my
daughter okay so four of you so tell me
one
thing why is it
ke a family that owns homes multiple
homes actually why are you staying on
rent so V multiple reasons so actually I
own homes uh in multiple places let's
say in Pune as well I have oneart one
home but uh so basically this is close
to my work so I walked down to my office
right close to airport uh I keep uh you
know flying once in every month at least
right and lot of good uh EES are here
it's kind of a you can say one of the
top five you know places to live in Pune
okay the man nagar one of the top five
places of why are you in Pune rul
orup
so so I was in Mumbai when I started my
career then moved to us and then us to
uh I just booked one apartment in Pune
because uh when I was coming back I
thought where I want to get settled uh
should be you know very uh not like very
fast running like Mumbai so quality of
life in Pune what I uh prefer is much
better which I feel in from Mumbai space
c greeny like so that's why and my job
was in Pune and in Pune V managar
because it's close to your office yes so
so viaga we moved to this apartment uh
around 2 years ago before that I was
living in my own apartment which is in
other side of the town in hinwar so tell
me you know I've I've always had this
question uh in my mind whenever I talk
to people renting who come from you know
tier 2 tier three tier four
cities uh is is that a challenge that
someone like you faced absolutely so I
also come from a small town you can call
it tier four or tier five kind of town
in Mad Pradesh I I grew up there
and and we already own home there right
our Legacy home my grandfather lived
there father lived there right so when
we came to Pune and then I we had our
own apartment so we used to live there
but viman nagar move because of my
office and other things so that was the
first you know mental block at least my
mother had I also had up to some level
but you know since I'm exposed to you
know these things so my mother was
like just you know try to buy something
some property sell something in our you
know Hometown and buy something and then
we move it
there how did you convince
her me no specifically not me but it was
him who convinced because he told that
how the commute that was terrible for
him at least it took one and a half hour
for him to reach from his office to back
back to H one way and she was seeing me
she was just sitting on the you know
with me on the seat and car seat and
then um she was seeing all the hustles I
was going through right and pun you know
how people drive so I've seen that I've
seen that too many too too many bikers
and I I think one out of 10 wear a
helmet oh yeah yeah in in in good
casee right so and and one more
interesting thing that that broaden my
mindset actually and my mother's as well
the same time this U the tenant show on
YouTube it somehow came on my wall I was
searching something on Google some no
broke or something and it came on my
wall and then I started watching you
know I I remember the the episode I
think you did it in uh Mumbai loas
apartment somewhere and the three
bedroom apartment the tenant took uh you
know monthly rent of
130,000 that was a rent he was paying
and that Blown Away my mind because my
monthly expense is not like that you
know it's below little below 130,000 you
know and then I you know uh explained
that to my mother
that and they were like quite happy like
enjoying Freedom right that episode I
saw and I started watching more episod
you know older episodes and then telling
her
that and then she started realizing
otherwise she used to
think okay regarding this house 1250 ft
three bedroom four people uh what part
of this house gets used the most you all
spend most of your time which part so
this of course would have to be the part
that we that we use the most because our
toddler she's like two now right now
when we moved here she was 6 months
crawling so from her crawling till now
when she's running around this house has
actually seen it all so this is the
space especially these two corners where
she has her meals so it's just a
blessings for uh has been a blessing for
all of us so this is her Zone yeah this
is her Zone completely see you can see
it from all the bikes that she has all
her toys and everything that that are
kept
here for me I'll tell you that corner
yeah that's why I bought this L shaped
sofa I just quite sit there and you know
watch TV many times sorry just scrolling
my phone and kitchen this looks big oh
yeah it is quite big uh this is my you
can call it this is my mother's ad she
she loves cooking she makes everything
from scratch she doesn't eat outside
food so we all you know eat very less
outside Foods so she's always you know
most of the time she spends here she
love them so tell me when she saw this
house uh was she in sink one is that
mindset of no Red two is when you got
her over here Washi is satisfied with
this
house okay that is another story so we
when Rahul booked this house I mean uh
signed the lease he just brought us here
and said this I have signed the lease
now make peace with it kind of thing and
this of course uh is a little dated uh
apartment so uh the modular kitchen is
not modular modular as per our today's
SS and where we had our home that was
our home we like we had the all topof
the line amenities we had all the new
Furnitures and everything so yeah it was
kind of like a okay we'll gulp it but we
took it with a grain of salt and in a
week or so we we just could not get much
of like more but but then rul strategy
was instead of asking for approval
announc it and then force people to
accept it was there a blockade in your
head as well uh of course when where I
come from I also come from a joint
family in a tier two tier three City
basically
and so generational homes are there so
it was it took a little mindset shift
but then of course he did a good job at
that so trump card was making sure that
they come and drive once to your office
that was a first trump card second Trum
card was just you know exposing them to
how other people think about renting
true and then again I will like take the
name the tenant show right which I keep
watching I never missed a single episode
nowadays I'm you know a little slowing
down on it but still initially and for
her for my mother you know it was like a
blessing for me that to change that
mindset so once once you all saw that
people spend 1 lakh 2 lakh 3 lakh 5 LH
on rent then you open your mind to
definitely definitely it was we not even
in the Wildest Dream we could imagine
somebody paying so much of an amount in
rent monthly so that was
something mind when you first saw like
you know two and a half lakh rupes three
lakh rupes which which have appeared on
my show uh what do you think
P I was
like what kind of money are they
spending on
it traditional Minds why are they
spending it on uh the rents yeah mostly
people
think and I am like always very
mathematical less emotional
person
rental and I can grow my investment like
around let's say 15% or so then why to
you know just shed that money out okay
Fair Point Fair Point okay so this
covers your living room your dining room
and your balcony which is your toddler's
dent
uh up ahead will be the bedrooms right
yes
sure so V we have uh this is the common
bath washroom see
this yeah respectable size yeah it's is
decent but uh this room this is my
mother's room okay actually so here we
have the biggest uh uh restroom actually
so you can see it here this is the
biggest this
one wow yeah this is
I'm of the home sizes that you guys live
in over here so that's why I told you
one of the reason for moving to Mumbai
not moving to Pune sorry not staying in
Mumbai was this was the biggest reason
and you can see this is very airy so my
mother you know she's UH 60 now so she
loves the natural light when you are
looking for this apartment when you you
chose nagar
uh
filter yes kind of yes
uh but we have there's a lot and lot of
buildings here uh which we had to filter
down because and we found this the best
this is all more family friendly if you
can say with the toddler coming in with
the toddler they need a lot of uh
children to play around and things like
that and space and things like that so
that's why we chose this because I mean
of course he chose this but it came into
our radar because I think I think I
think she I think she after 3 years
she's suing over that over yeah he chose
it so because yeah so but this stand out
because uh it's a lot of families
families uh live here and that has been
very good for us uh especially with the
toddler okay and lots of storage space
over here I can see that was the one of
the reason also you know when I saw this
apartment first time and lot of fixed
storage for there because we need
everything you know inside so you will
see there a minimalistic kind of home
only required things are you know
outside so this covers the first bedroom
your mother's bedroom uh this will be
what your bedroom this is my bedroom yes
okay so again uh decent bedroom size and
you see again lot of uh natural light
and storage you see so this bed and alir
everything and this is the bathroom Okay
me show
you this is
uh I think decent size bathroom ATT tach
okay yeah this is a more than decent
size bathroom are there some things
about this location that that don't
really work at all like you know just
when I came over here uh I saw it seems
like a vibrant area uh there was some
good cafes uh that on the way there
educational
institution uh what's lacking every
location has something that is missing
what's the lacking thing over here so
one thing constantly I mean it does not
bother much but nowadays because so this
is close to airport so a lot of uh you
know noise
plane you know airplane noise you know
we see throughout the day sometimes in
night as well because lot of uh private
jets and army jets also there so that's
one thing uh which we started noticing
more but but then Pune airport is a is
is a fairly busy airport you're saying
that huh it became now you know it it
was not that busy but I I don't know if
you are aware that there's a new
terminal open in the Pune airport it's a
huge terminal right all of us I mean
both of us take lot of pride in that you
know we live close in this new terminal
completed and you know now there are
like around 20 two destinations within
India domestic flights pun serves and
two International destinations as well
uh Singapore and Dubai yeah sing a lot
of young energy young Vibe a lot of
people you can everything is uh you can
walk to every possible thing whatever
you want to eat to uh visit a mall also
it's just something that you can just
go and do it so has all of this managed
to persuade your mother your decision
right
decision would you say that she's come
around to your point of view or uh she's
still as distant as she
was so she is little confused now
because she likes B managa now a lot
okay everything is walkable so she's not
dependent on me or you know her to you
know take her drive her to somewhere she
can walk and find anything here right so
that's so she enjoys that kind of
freedom but
sometimes she's
like she still not bought into that no
so Financial
maem again 4% rental we are living and I
am uh on Personal Finance side right I'm
managing investment in markets right
through mutual funds and direct stocks
uh and other instruments so I can
perfectly see that you know that working
well for me so I can give you one small
example right so before moving on rent 2
years ago with this apartment uh entire
Financial assets of my family you know
the size was close to
2C and now in last 2 years than got to
Market they perform really well and we
in the bull market place phase so so
that two CR family portfolio became
around you know uh close to 4C so I I
think like that right so if so this
apartment you know cost around if I want
to buy it around 1.4 to 1.5 CR if I
would have taken that call if I would I
would have bought this kind of apartment
in bman nagar 2 years ago I would have
sheded out lot of my portfolio value
right and compounding last years so now
I'm sitting on that particular gain I
can go ahead and buy this apartment you
know right away as today's moment still
I will have that amount just by the
incremental gain you made in the last 2
to 3 years
absolutely you communicated that to your
motheres shees she does she recognized
that maybe maybe the call was right oh
yeah yeah so that's was one of the
reason now she's comfortable than the
previous you know and like she was not
before so yeah so she understand that
but she's
like so so she understand the market
correction in a way okay fair point so
basically the stock market and this
entire wealth creation that's happened
that has made many people believe that
renting versus buying battle May the
battle should be won by rent uh yes uh
major majorly okay this covers the
second bedroom up ahead will be the
third bedroom the third bedroom
yes so V this is uh the third bedroom
it's kind of our office work from home
setup as you can see right both of us so
I usually work from office 4 days in a
week and she's uh working from home most
of the time so this works well for us
okay right right next to each other H
yeah is is that
inconvenient like just when call it's
disturbing her and vice versa it becomes
inconvenient sometimes when we both are
on the call at the same time so I move
to some other room or maybe I go to
office you know if there's some
important call uh this place if you were
to tell me the one big weakness of this
house this location Pune in general what
would you tell me one of the running
running jokes in in Mumbai about Pune is
that is that the only infrastructure
development we hear about Pune is is the
action on the airport which never
happens oh yeah that's what I'm saying
the the new terminal of airport when
when I saw first time I last month I I
think it got open and I was traveling to
Delhi and the moment they asked me to go
to new terminal and I saw this I just
called her video
call and when I came back I took my
mom similarly when we saw the metro
running from this there's only one line
that's running two lines actually and
then we saw it actually running and we
were like oh finally our our daughter
can see this otherwise we were not
hopeful at all so so basically both of
you all have have have more or less
given up hope on Puna infrastructure
right infra part yeah but we like the
weather oh yeah I mean now we are used
to so so basically Puna strength are
natural paa's problems areally man-made
no uh you can say very well very well
said very well put okay so tell me for
all of this uh how much uh money are you
paying how much rent are you paying for
this so for this we are paying uh 42,000
per month as a rent Okay and like you
said at the start your mom was shocked
with this amount uh how much deposit
does this take uh this took around uh 1
120,000 yeah deposit 3 months rent okay
what next for you both
plan uh renting only or you're tilting a
bit now towards buy after your mother
has told you
I think for next two years I'm not
thinking about buying a home so lot of
exas to it
so
and but we'll buy at some point but I'm
not in hurry of doing that are you in a
hurry no not at all not at all the the
power of convenience and freedom that we
have currently and especially now
currently our daughter is also not going
to school at the moment so until unless
we don't have to fix a school for her
and education becomes like that Hefty
then until then if since we have that
freedom we want to enjoy that okay so
basically the plan is uh be in Pune be
in viman nagar and be on rent absolutely
okay on that note Rahul and Rupal thank
you for coming on the tenant thanks for
and uh from a small town to Pune but I
think evolved greatly in financial
thought yeah good luck thank you thank
you thank
you time for the report card this is a
reasonably spacious 3bq apart Department
in a building with some degree of
amenities location this is viman nagar
this is a premium location very well
connected to the major economic hubs
from karadi to Kalani nagar connectivity
Metro connectivity has just commenced
the railway station that's about 8 km
away bus network is reasonably steady
all in all if you're a person that is
willing to pay a handsome budget wants
to be around the action in Pune uh is
okay with the building without amenities
this is sort of location and project
that can be considered are looking for
the perfect home stop looking around
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[Music]
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