New Delhi: Zerodha co-founder Nikhil Kamath has been advocating renting instead of buying a house. Kamath, known for his outspoken views on real estate, has taken a U-turn. Recently he surprised everyone by buying his first house. His move has sparked a flood of reactions on social media. Critics have accused him of hypocrisy. In the recent episode of his podcast ‘WTF is with Nikhil Kamath’, the 37-year-old entrepreneur explained the reasons behind his decision. He said, ‘With all the advantages of living on rent, one disadvantage is that you do not know when you can vacate the house.’ He argued that it was this instability that forced him to rethink the benefits of homeownership.
During the episode Kamath shared his experience of leaving the previous rented house. It was a situation he described as disappointing. Reflecting on the emotional challenges of frequent relocation, he said, ‘I had to move out of that house, even though I would have liked to stay in that house longer.’
Debate on rent or own house…
Kamath’s revelations have sparked a debate on renting versus buying a house. At the same time, he also invited criticism from netizens. Many users expressed their displeasure on social media, saying that Kamath himself has bought a house after advocating living on rent for years.
One user wrote, ‘You used to advocate that it is better to live on rent than buying a house. But, you yourself went ahead and bought a house. It seems your ‘rent a house’ advice was only for poor people, while you enjoyed the perks of being a billionaire!’
The reaction of many other users was similar. Expressing similar sentiments, a user wrote, ‘Nikhil Kamath of Zerodha took a U-turn and bought a house after advocating renting instead of buying a house. He is misleading everyone who listened to his advice on his podcast.
Another user wrote, ‘Nikhil Kamath is the same one who advocated for so long about how it is best to buy a house on rent, only fools buy property. He has bought a house. So this is a lesson to anyone who listens to him or any other finance bro and bases their real estate decisions on bullshit reels.’
Decision should be taken based on your financial situation
Critics have emphasized that individuals should make real estate decisions based on their own financial situation rather than following the advice of wealthy influencers.
The podcast episode featured well-known guests from the real estate sector. These included Prestige Group Chairman and MD Irfan Razak and WeWork India CEO Karan Virwani. The conversation revolved around the financial advantages of owning a property versus renting.
Kamath’s recent transition from renting to homeownership has raised questions about the evolving landscape of real estate investing. Especially for young entrepreneurs. Kamath’s perspective on owning a home with a net worth of approximately $3.1 billion may impress many in the industry.