Man regrets buying ₹1.5 crore apartment after income drops: 'My take-home pay barely covers EMI and expenses'

New Delhi: A man's viral social media post expressing regret over purchasing a ₹1.5 crore apartment has struck a chord with many internet users after he shared how a decline in his salary has made it difficult to meet his monthly financial commitments.

The homeowner said his reduced income now barely covers his home loan EMI and essential living expenses, leaving little room for savings or unexpected costs.

"My take-home pay barely covers EMI and expenses," he wrote, explaining that what once seemed like an affordable investment has become a significant financial burden following the drop in income. (hindustantimes.com)

Financial situation changed

According to the post, the apartment purchase was made when the individual had a substantially higher salary and expected stable earnings in the future.

However, after his income declined, the monthly loan repayment began consuming most of his take-home pay. The homeowner said he now struggles to maintain his previous lifestyle and worries about long-term financial security.

His experience resonated with many professionals who said changing economic conditions, layoffs and salary reductions can significantly alter one's ability to service large home loans.

Internet shares mixed opinions

The post quickly attracted thousands of reactions, with users offering both sympathy and practical financial advice.

Some commenters said buyers should avoid taking on EMIs that consume a large share of their income, recommending that housing costs remain within a manageable portion of monthly earnings.

Others pointed out that unforeseen circumstances—such as job changes, pay cuts or economic downturns—can affect even well-planned financial decisions, making it difficult to predict long-term affordability.

Several users encouraged the homeowner to explore options such as refinancing, increasing income through additional work or renting out the property if feasible.

A broader housing affordability debate

The viral post has also reignited discussions about rising real estate prices in India's major cities and the growing financial pressure on homebuyers.

Financial experts often advise maintaining an emergency fund and ensuring that housing loan repayments remain sustainable even if income temporarily declines.

The discussion highlights the importance of stress-testing major financial decisions against potential changes in employment or earnings before committing to large long-term loans.

As the post continues to circulate online, it has become a reminder of the challenges many homeowners face in balancing aspirations of homeownership with financial stability in an uncertain economic environment. (hindustantimes.com)