For six years, a Bengaluru techie happily rented homes, valuing freedom over fixed assets. His choice wasn’t about affordability—it was strategic, tied to career mobility and the unpredictable tech landscape. But by 2024, soaring rents and the social media-driven pride of homeownership began eating away at that confidence.

“Rents almost doubled in some places,” he shared in a Reddit post. “Colleagues flaunted clubhouses, balconies, and ‘no more rent’ posts. I started second-guessing myself.”

Motivated by fear of missing out, he dived headfirst into the home-buying frenzy. Property visits, real estate chats, and endless online browsing followed. The price tags stunned him: ₹2 crore for 2BHKs from top builders, ₹1.5 crore from mid-tier ones—and even ₹1.3 crore from developers with patchy records.

Finally, he gave in and booked a ₹1.2 crore 2BHK in East Bengaluru, driven by classic sales pressure: “Almost sold out! Book now or miss the price hike.”

But doubts crept in soon after. His lawyer pointed out title issues. Friends whispered about the builder’s fund diversions and slow handovers. To make things worse, someone else was offered the same flat for ₹10 lakh less.

He cancelled. And the nightmare began—over 100 follow-ups and sleepless weeks trying to recover his money.

His cautionary tale mirrors a broader crisis. Property prices in Bengaluru have shot up, with hotspots like Whitefield and Indiranagar commanding staggering rates. Meanwhile, rents in tech hubs surged 20–30% in a year.

The bottom line: don’t let FOMO override due diligence.