'₹80K A Month Is Almost Poverty In Mumbai': Journalist's Harsh Reality Check For 24-Year-Old Homebuyer

Mumbai’s soaring cost of living and expensive housing market have once again sparked discussion online after real estate and infrastructure journalist Vishal Bhargava said that earning Rs 80,000 a month is “almost poverty” in the city while responding to a 24-year-old seeking advice on buying his first home.

24-year-old seeks home-buying advice

Bhargava shared a video on Instagram after receiving questions from a 24-year-old who earns Rs 80,000 per month, lives in Andheri West and works in Mumbai’s Bandra Kurla Complex (BKC).

The young professional wanted to know whether he should purchase a home as soon as possible before property prices rise further. He also asked where he should consider buying since purchasing a property in Andheri was beyond his current budget.

“For most people, Rs 80,000 per month is a good salary. But if you're in Mumbai, Rs 80,000 per month is almost below poverty line,” Bhargava said in the video.

Sharing the video, he wrote, “Rs 80k/month salary is almost poverty in Mumbai.”

“That’s the harsh truth as a user asks me the strategy to pursue his home purchase,” he added.

‘Don’t rush to buy’

Bhargava advised the 24-year-old against purchasing a property simply because of the fear that home prices would continue climbing.

“Don't go with the assumption that you have to buy quickly because home prices will keep rising and rising. It's the most popular myth or lie in real estate,” he said.

According to Bhargava, property prices do not necessarily appreciate everywhere. “In many areas, home prices don't go up. In few areas, home prices go down as well,” he said.

In his Instagram post, Bhargava summed up his advice: “Don’t rush to buy. Permanent Price appreciation story is a myth.”

Wait and buy in Andheri

Addressing the question of whether the young professional should move elsewhere to purchase an affordable home, Bhargava suggested waiting rather than compromising on his preferred location.

“Andheri has its own vibe,” he said, laying out the choice between buying a property elsewhere quickly or earning more and purchasing a home in Andheri later.

“If I were a 24-year-old person today, I would go for the second option,” Bhargava said.

His advice was to focus on career growth and savings before making a major property purchase.

“Wait. Buy in Andheri but not now. Work hard, save, focus on career. Buy late but buy right,” he wrote in the Instagram post.

Home loan could affect career

Bhargava also highlighted the financial and psychological implications of purchasing a home early in one’s career.

“Once you buy a home, you get bound with the liabilities that come with it,” he said, adding that home loans could make young professionals more cautious about spending and career decisions.

“Psychologically, you start trying to cut expenses. Start taking lesser risks in your professional career. That hurts your growth going forward,” he said.

Bhargava said that if he were in the same situation, he would wait before buying.

“I would not buy a home today or soon. I would buy in Andheri, but I would wait for a period of time, focus on my career, earn the money and then buy in a place of my choosing,” he said. “Don't buy early, buy late, but buy right.”

Published on: Thursday, September 03, 2026, 07:27 PM IST