I Pick Living In A Rented House Than Owning It: CEO!

Having a house is the dream of many. People see it as a big dream and some of them even put their life savings into it. This is the importance people give to their own house and it is no wonder in saying that people consider having their own house even after retirement as a big achievement.

Contrary to this, the founder of a big company made shocking statements. He said that he would pick a rented house over his own house. He said that living in a rented house has a few perks and this is why he picks a rented house.

Bombay Shaving Company founder Shantanu Deshpande gave an interesting observation on living in rented houses over having an own house. He said that the amount he pays as rent is less than the EMI he has to pay and it is easy for him to shift.

He said that he lives in a rented house in Gurgaon and he pays Rs 1.5 lakh as rent. The cost of the building is Rs 7.5-8 crore. If I want to buy the house then I have to take a loan for 70 percent and as EMI I have to pay around Rs 6-7 lakh.

Comparatively, I am paying less amount as rent than the EMI. I have another advantage of living in the same amount by paying a lesser amount.

Deshpande added that rather than paying lakhs as EMI he would invest the same amount in the public market as the liquidity is high there. He said that another advantage of living in rented houses is that he can shift to any house in just 15 days as moving becomes easy.