Two couples share contrasting reasons why they decided against property purchase and opted for lifetime renting.
Before we begin, we would like to point out that this is their choice. They clarified that they are not preaching and that their lifestyle/choices will not work for everyone. So we anticipate your disagreement, but we request that you not be in a hurry to criticise them.
1. A home is where the family is. When I left my wife to work in another country for a few months, I realised that home is wherever your family is. Meaning we do not need to call a particular location our home. We can move anywhere we like; as long as the family stays together, that is our home.
I used to live in a big joint family, and I have seen many uncles and aunts grow old and die. For happiness in the evening of our lives, we only need ample money and love and affection from relatives. See: Why we must invest in relationships for successful retirement planning.
For the ample money, proper retirement planning is essential, for which we used Freefincal’s robo-advisory tool. For the relationships part, in today’s day and age, we can only rely on our spouse and children for physical and moral support in the event of sickness.
We have no control over where our children study and work. Their passion and circumstances decide that. Our son works in New Delhi while we are in Bangalore. We soon plan to relocate close to him – either in a rented apartment or retirement home.
We had planned this after he finished school and did his UG and PG in two different cities. So renting makes a lot of sense to us. More importantly, renting allowed us to invest more and build a strong corpus for my son’s future and our retirement.
Buying a property only to leave it behind to stay with our son made no sense. Thankfully our son was academically strong, so we knew at an early stage that he is likley to go places (literally!). So we decided not to buy a property and instead focussed on investing. We make no claims that this is the best thing to do. Just that we did it. We also do not claim that this is the right choice for us. So far, it seems fitting. The future, as always, is uncertain.
2. Climate change! You might laugh reading this, but climate change has been a big worry for my wife and me. We believe that extreme weather events are going to dominate the news in the next ten years, and in ten after that, things are going to get much worse.
So we believe being a bit of a nomad is the way to go. Shift from a city where heavy rain, snow, or heat is expected, live for a few months elsewhere, etc. This may sound like paranoia to many of you, but we are convinced that rooted existence will be hard in the coming years. Maybe it will be a case of, we can run but not hide, but we would like to try this.
Naturally, we can afford to think this way only because we do not have kids and have no plans to have any. So it will not work for most others. Also, both our jobs are predominantly online, and when it is offline, it involves travel. So we are used to the nomad existence.
What do you think about these two contrasting reasons not to buy a home?
Do share this article with your friends using the buttons below.
🔥Enjoy massive discounts on our courses, robo-advisory tool and exclusive investor circle! 🔥& join our community of 5000+ users!
Use our Robo-advisory Tool for a start-to-finish financial plan! ⇐ More than 1,000 investors and advisors use this!
New Tool! => Track your mutual funds and stock investments with this Google Sheet!
Podcast: Let’s Get RICH With PATTU! Every single Indian CAN grow their wealth!
You can watch podcast episodes on the OfSpin Media Friends YouTube Channel.
- Do you have a comment about the above article? Reach out to us on Twitter: @freefincal or @pattufreefincal
- Have a question? Subscribe to our newsletter with the form below.
- Hit ‘reply’ to any email from us! We do not offer personalized investment advice. We can write a detailed article without mentioning your name if you have a generic question.
Join over 32,000 readers and get free money management solutions delivered to your inbox! Subscribe to get posts via email!
Explore the site! Search among our 2000+ articles for information and insight!
About The Author
Dr. M. Pattabiraman(PhD) is the founder, managing editor and primary author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. He has over ten years of experience publishing news analysis, research and financial product development. Connect with him via Twitter, Linkedin, or YouTube. Pattabiraman has co-authored three print books: (1) You can be rich too with goal-based investing (CNBC TV18) for DIY investors. (2) Gamechanger for young earners. (3) Chinchu Gets a Superpower! for kids. He has also written seven other free e-books on various money management topics. He is a patron and co-founder of “Fee-only India,” an organisation promoting unbiased, commission-free investment advice.
Our flagship course! Learn to manage your portfolio like a pro to achieve your goals regardless of market conditions! ⇐ More than 3,000 investors and advisors are part of our exclusive community! Get clarity on how to plan for your goals and achieve the necessary corpus no matter what the market condition is!! Watch the first lecture for free! One-time payment! No recurring fees! Life-long access to videos! Reduce fear, uncertainty and doubt while investing! Learn how to plan for your goals before and after retirement with confidence.
Our new course! Increase your income by getting people to pay for your skills! ⇐ More than 700 salaried employees, entrepreneurs and financial advisors are part of our exclusive community! Learn how to get people to pay for your skills! Whether you are a professional or small business owner who wants more clients via online visibility or a salaried person wanting a side income or passive income, we will show you how to achieve this by showcasing your skills and building a community that trusts you and pays you! (watch 1st lecture for free). One-time payment! No recurring fees! Life-long access to videos!
Our new book for kids: “Chinchu gets a superpower!” is now available!
Most investor problems can be traced to a lack of informed decision-making. We have all made bad decisions and money mistakes when we started earning and spent years undoing these mistakes. Why should our children go through the same pain? What is this book about? As parents, what would it be if we had to groom one ability in our children that is key not only to money management and investing but to any aspect of life? My answer: Sound Decision Making. So in this book, we meet Chinchu, who is about to turn 10. What he wants for his birthday and how his parents plan for it and teach him several key ideas of decision-making and money management is the narrative. What readers say!
Must-read book even for adults! This is something that every parent should teach their kids right from their young age. The importance of money management and decision making based on their wants and needs. Very nicely written in simple terms. – Arun.
Buy the book: Chinchu gets a superpower for your child!
How to profit from content writing: Our new ebook is for those interested in getting side income via content writing. It is available at a 50% discount for Rs. 500 only!
Want to check if the market is overvalued or undervalued? Use our market valuation tool (it will work with any index!), or get the Tactical Buy/Sell timing tool!
We publish monthly mutual fund screeners and momentum, low-volatility stock screeners.
About freefincal & it’s content policy. Freefincal is a News Media Organization dedicated to providing original analysis, reports, reviews and insights on mutual funds, stocks, investing, retirement and personal finance developments. We do so without conflict of interest and bias. Follow us on Google News. Freefincal serves more than three million readers a year (5 million page views) with articles based only on factual information and detailed analysis by its authors. All statements made will be verified with credible and knowledgeable sources before publication. Freefincal does not publish paid articles, promotions, PR, satire or opinions without data. All opinions will be inferences backed by verifiable, reproducible evidence/data. Contact information: letters {at} freefincal {dot} com (sponsored posts or paid collaborations will not be entertained)
Connect with us on social media
Our publications
You Can Be Rich Too with Goal-Based Investing
Published by CNBC TV18, this book is meant to help you ask the right questions and seek the correct answers, and since it comes with nine online calculators, you can also create custom solutions for your lifestyle! Get it now.
Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want
This book is meant for young earners to get their basics right from day one! It will also help you travel to exotic places at a low cost! Get it or gift it to a young earner.
Your Ultimate Guide to Travel
This is an in-depth dive analysis into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, and how travelling slowly is better financially and psychologically, with links to the web pages and hand-holding at every step. Get the pdf for Rs 300 (instant download)
