It might surprise you to learn that a lot of celebrities choose to rent rather than buy in the glitzy world of Bollywood, where wealth and style are considered to be synonymous with famous life. Celebrities who rent upscale flats in Mumbai’s upscale neighbourhoods include Jacqueline Fernandez, Kriti Sanon, Katrina Kaif, Vicky Kaushal, Kartik Aaryan, and Imran Khan. This raises an interesting question: in an expensive city like Mumbai, is it better to buy or rent a property?
Bollywood Stars Embracing Rental Homes
Mumbai, known as the “City of Dreams,” is famous for its high cost of housing, especially in upscale neighbourhoods. For many Bollywood celebrities, renting becomes a more appealing option as a result. For instance, Vicky Kaushal and Katrina Kaif’s monthly rent for a Juhu home is an astounding 8 lakh rupees. Similar to this, Imran Khan pays 9 lakh rupees a month in rent to reside in Karan Johar’s Bandra home with his girlfriend Lekha Washington. Additionally, Kriti Sanon pays Amitabh Bachchan 10 lakh rupees a month to rent a duplex in Juhu.
Advantages of Renting for Bollywood Celebrities
- Financial Flexibility: Celebrities who rent can avoid the large outlay of funds necessary to own real estate in desirable locations. Their improved spending management is facilitated by their financial freedom.
- Predictable Expenses: Without the unforeseen expenditures associated with owning a house, monthly rent payments make it simpler to predict living expenses.
- Maintenance-Free Living: Renters can save time and bother by having their landlords take care of maintenance and repairs.
- Income fluctuations: Since many performers have erratic sources of income, renting allows them to avoid investing a significant amount of their money in real estate.
Drawbacks of Renting for Celebrities
- High Rent: A sizeable amount of money, which might be saved or invested, is needed for rent in Mumbai’s posh areas.
- Lack of Ownership: For individuals looking for long-term stability, the fact that renters do not acquire ownership in the property or have total control over it could be a disadvantage.
Advantages of Buying a Home for Bollywood Actors
- Eliminating Rent: Not having to pay rent each month when you own your own property might be a big financial relief.
- Investment Opportunities: Aside from their regular income, some celebrities own homes and rent them out.
- Financial Security: Having property may act as a safety net during hard times since it can be sold to obtain money.
- Complete Ownership: Having your own home gives you total control and ownership rights over it, as well as stability and a sense of permanency.
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