Indian parents have to be the most vociferous when it comes to advocating the purchase of a house to kids. In the current scenario, however, it may not be a good idea for millennials to buy property as an investment. For self-occupation too, one must consider various factors before committing to a large EMI. It is better to rent when you start working instead of being tied down to a large EMI.

Pros of renting
Lower rent: Rent will be lower than home loan EMI. In NCR, you can rent a Rs 1 crore, 3-BHK house for Rs 15,000-25,000, but the EMI with 40% down payment @7% will be Rs 46,500 a month for 20 yrs.
Down payment: You don’t have to amass a large down payment amount early on in your career. For renting, you just need to provide a 2-3 month security deposit upfront.