In Bangalore’s white-hot real estate scene, fear is selling faster than facts. The city’s tech-fueled growth, soaring rents, and flashy new launches are pushing young professionals and first-time buyers into snap decisions — driven more by panic than planning. Social media flaunts clubhouse views and “booked before price hike” captions, while brokers drum up urgency with tales of vanishing inventory.
But one user’s viral post is now flipping the script, laying bare the emotional and financial toll of falling for the hype — and urging others to take a breath before jumping in.
Cautioning others not to let fear dictate their finances, a Bangalore resident shared a raw account of regret after booking an under-construction flat and enduring a months-long ordeal to cancel the allotment and reclaim their booking amount.
“You might think you’re late to the real estate party. But here’s a different perspective: You’re actually right on time — to skip this overhyped wave and wait for a correction or stabilisation,” the user wrote on Reddit.
Having lived in Bangalore for six years, the user said they consciously chose renting over buying — valuing financial flexibility over a two-decade EMI burden. “The poor rental yield, the high interest burden, and the psychological weight of a 20-year loan just didn’t feel worth it,” they said. Between 2020 and 2022, they watched the market but stayed cautious. Then rents doubled, and friends started flaunting new homes online. FOMO kicked in.
“I gave in,” they admitted. What followed was a whirlwind of site visits and price shocks. “Tier 1 builders were quoting ₹1.8-₹2.2 crore for a 2BHK. Even Tier 3/4 builders wanted ₹1.3 crore or more!”
Eventually, they booked a ₹1.2 crore flat in East Bangalore after a sales pitch claiming “80% units are already sold.” But after the booking, red flags surfaced. Legal issues, a builder with a shady track record, and worse — the same flat was offered to a friend weeks later at ₹10 lakhs less.
“Then began the painful 100+ follow-ups to get my booking amount refunded,” the user said.
Their message was blunt: “Bangalore real estate is already inflated. Don’t believe the hype.” They questioned aggressive marketing, delayed possession timelines, and secret discounts — all signs, they argued, that demand isn’t as frenzied as it seems.
“In times like this, cash is king,” they said, citing economic uncertainty and job market volatility. Their advice? “Be smart. Be patient. And most importantly, don’t fall for FOMO.”
The post resonated widely. One user, now running a real estate firm, commented: “Grade 2 builders in Bangalore are cocky… rents have increased over 50% post-COVID.” Another said, “It’s a cycle. If you are living in the house you purchased then it’s a basic necessity, not an investment.”
A third called out the “builder-sales FOMO playbook,” warning that the power imbalance between seasoned sellers and anxious first-time buyers often leads to regret. “Good luck waiting for downturns in real estate,” they added, pointing to the persistent influx of black money and delayed infrastructure as price props.
And a final voice, echoing the original poster’s sentiment, shared: “I had booked a flat for ₹1.8 crore. The stress of vetting, legal issues, and cost escalations drove me to a nervous breakdown. Cancelling it was a relief.”
