This Tenant In Pune Made ₹2cr By Not Buying A Home | The Tenant

Summary

In 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.