Man who bought Rs 1.5 crore flat on Rs 25 lakh salary faces financial nightmare
In a post on Reddit's r/personalfinanceindia, the man said he purchased the apartment about a year ago, when his annual income was around Rs 25 lakh in 2024.
A man has opened up about regretting his decision to buy a Rs 1.5 crore apartment, saying mounting EMIs, falling income and unexpected repair costs have turned it into a financial nightmare.
In a post on Reddit’s r/personalfinanceindia titled “Bought an apartment and completely regret it,” the man said he purchased the flat about a year ago, when his annual income was around Rs 25 lakh in 2024. His earnings increased to Rs 32 lakh in 2025, but business has since taken a major hit, significantly reducing his monthly income due to his commission-based pay structure.
He said his take-home pay now barely covers his monthly home loan EMI and basic fixed expenses. He added that he is planning to start a side gig to stay afloat and admitted that, in hindsight, delaying the purchase would have been a wiser decision.
Apart from the loan burden, he was hit with unexpected housing costs, including around Rs 2.5 lakh in society maintenance and structural repair expenses since moving in. Plumbing issues have further added to his worries, with repairs expected to cost another Rs 50,000.
The man said his liquid emergency fund has dropped to just Rs 5 lakh. While he has another Rs 10 lakh invested in mutual funds and PPF, he is reluctant to liquidate those investments unless absolutely necessary.
Feeling overwhelmed, he asked fellow Reddit users for advice, saying he was unsure how to move forward and worried that selling the apartment so soon after purchase would be difficult.
The post drew several responses, with users offering both practical advice and reassurance.
One user wrote, “The power of hindsight is a curse. If your business had flourished, you would be thinking the opposite. It’s okay. This too shall pass.”
Others urged him to cut his losses and sell the property: “Try to sell it. It is tough to sell a resale apartment. Take the loss, even if you have to sell at break-even. Move on.”
Another commented, “Sell the apartment and close the loan. This will take the burden off you. If money is left after closing everything, it will add to your emergency fund.”
Some users also pointed to broader financial planning lessons: “It is usually a bad decision if more than 15-20% of your monthly income goes towards EMI. I know owning a home is a dream for most, but never buy one if you don’t have enough disposable income.”
What is your take on this?
A man has opened up about regretting his decision to buy a Rs 1.5 crore apartment, saying mounting EMIs, falling income and unexpected repair costs have turned it into a financial nightmare.
In a post on Reddit’s r/personalfinanceindia titled “Bought an apartment and completely regret it,” the man said he purchased the flat about a year ago, when his annual income was around Rs 25 lakh in 2024. His earnings increased to Rs 32 lakh in 2025, but business has since taken a major hit, significantly reducing his monthly income due to his commission-based pay structure.
He said his take-home pay now barely covers his monthly home loan EMI and basic fixed expenses. He added that he is planning to start a side gig to stay afloat and admitted that, in hindsight, delaying the purchase would have been a wiser decision.
Apart from the loan burden, he was hit with unexpected housing costs, including around Rs 2.5 lakh in society maintenance and structural repair expenses since moving in. Plumbing issues have further added to his worries, with repairs expected to cost another Rs 50,000.
The man said his liquid emergency fund has dropped to just Rs 5 lakh. While he has another Rs 10 lakh invested in mutual funds and PPF, he is reluctant to liquidate those investments unless absolutely necessary.
Feeling overwhelmed, he asked fellow Reddit users for advice, saying he was unsure how to move forward and worried that selling the apartment so soon after purchase would be difficult.
The post drew several responses, with users offering both practical advice and reassurance.
One user wrote, “The power of hindsight is a curse. If your business had flourished, you would be thinking the opposite. It’s okay. This too shall pass.”
Others urged him to cut his losses and sell the property: “Try to sell it. It is tough to sell a resale apartment. Take the loss, even if you have to sell at break-even. Move on.”
Another commented, “Sell the apartment and close the loan. This will take the burden off you. If money is left after closing everything, it will add to your emergency fund.”
Some users also pointed to broader financial planning lessons: “It is usually a bad decision if more than 15-20% of your monthly income goes towards EMI. I know owning a home is a dream for most, but never buy one if you don’t have enough disposable income.”
What is your take on this?
