Zerodha co-founder Nikhil Kamath recently revealed that he has purchased his first home, sparking a wave of reactions on social media. Known for promoting the idea of living on rent to save money, Kamath’s shift towards buying a house has drawn criticism from his followers and others online. Many called him out for what they see as a contradiction in his earlier advice about the financial benefits of renting.
Kamath’s Long Advocacy for Renting Over Buying
For years, Kamath has been an outspoken advocate of living on rent, suggesting that renting helps people save money which can be invested more wisely in other assets. Through his podcasts and public statements, Kamath emphasized that homeownership could be financially restrictive for many. However, his decision to buy a house now has left many surprised.
Kamath’s Experience That Led to Buying a Home
In a recent episode of his podcast, “WTF is with Nikhil Kamath”, the entrepreneur explained the reason behind his decision. Kamath shared that while renting has financial benefits, it also comes with uncertainty and instability. He disclosed that he had to vacate a rented property unexpectedly, even though he had hoped to stay longer. This experience led him to rethink the value of owning a home.
Kamath said, “Living on rent offers flexibility, but it also brings the risk of being asked to leave without much notice. That uncertainty played a big role in my decision to buy.”
Criticism on Social Media
Kamath’s shift has sparked a debate on social media, with some users calling him “hypocritical” and accusing him of offering advice that he himself didn’t follow. A user wrote, “You said it’s not smart to buy a house, but you bought one. Was that advice only meant for others?” Another user commented, “This shows the importance of taking financial advice with caution—experts often change their stance based on personal situations.”
Kamath Urges People to Make Decisions Based on Needs
Responding to the backlash, Kamath clarified that his choice to buy a house was driven by personal circumstances. He advised people to consider their own financial needs and life situations rather than blindly following the advice of consultants. “Everyone’s situation is different, and what worked for me now may not work for someone else,” he noted.
Real Estate Insights Shared with Industry Experts
Kamath also discussed the real estate market in depth during the podcast, where he was joined by notable industry leaders like Irfan Razack (Chairman of Prestige Group), Karan Virwani (CEO of WeWork India), and Nirupa Shankar (Executive Director of Brigade Group). The conversation covered various aspects of real estate, including investment strategies and market trends.
