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Will my generation from the middle class never be able to buy a house in Chennai?
28M here and my family (father's side) has been living in Chennai for 3 generations (I am the 3rd gen). However, my father is a very complacent and ignorant man and so even though he grew up in Chennai, he never invested in real estate (let alone anything). I have lived in rented houses my whole life till now. I have shifted my house about 9 times now due to multiple reasons. Some problem or the other always happens or there is a need to shift (like office, school etc.) and so we did. I absolutely resent living in rent as I always feel like I'm a slave to these house owners. Especially when they live in the same building. Checking who comes and goes, not allowing or fighting for doing electrical or plumbing repairs, and so on. And obviously, we can't make changes to their house like hammering nails, adding sunshade etc. I often end up in houses with very poor plumbing and electrical work that keep causing problems that the owners are not willing to resolve. They just want us to adjust. We do have an own house beyond Avadi, that we bought 10 years ago. However, the civic facilities there are almost non-existent. No streetlights, drainage or roads. The building has 6 other apartments and my experience living there for 4 years changed my mind about staying in apartments. No one ever cooperates for anything and almost everyone hates each other there. We moved out from there because we couldn't tolerate the unfriendly neighbours and lower standards of living (civic facilities). My family regrets buying a house there. We tried selling it, but in the 10 years since we bought it, it has not appreciated much at all. The best offer we got was for a profit of just 3 lakhs. There is no development around that area. For the past 6 years, I have been in a veri to build my own house. I've been saving 30% of my salary just for this. I have been searching vigorously for plots or independent houses in Chennai, but they are extremely expensive. Real estate is inflated AF. I can only afford plots near Thirumaazhisai in the west or beyond Kelambakkam in the south. These are way too far from my office and all my friends and relatives. Once again, the civic facilities are non-existent there. I hate that even though my family has lived in Chennai for almost 3 generations, I don't have an own, independent house in Chennai. I don't want to buy a tiny flat in those super huge, gated apartments for an exorbitant price. I hate apartments and the complications that come with it. Is my generation (born in late 90s and 2000s) doomed to never own an independent house in the city? I hear some people giving advice that buying properties is a waste of money and that living in rent is the smart, economical move. But I've noticed that whoever gives those advice has an own house that they've inherited from their parents. To me, having an own house that I can do whatever I want with is freedom. Freedom of not having to bow down to a\*\*hole house owners. When I wanted to study abroad after my bachelors, every single bank asked for collateral for an education loan. I couldn't afford it and gave up on it. In my opinion, having an own house matters. Sorry for the long rant. I am not expecting answers, just needed to vent.4
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