Owing an apartment or car might have been the traditional measure of success, but recent research shows that an increasing number of youngsters around the world feel that investing money to buy expensive things is simply out of date. They look out for geographical and financial independence, and the concept of ‘success’ too has changed a great deal. For them, investing in experiences, travelling or building a start-up is considered smart and successful, rather than buying a car or a property.
Be it a house, car, furniture or even designer wear, three quarters of today’s youngsters believe that renting makes more financial sense. “Renting saves time. Also, I don’t want to spend a lot of money on buying expensive designer wear just for a day. I usually get party wear and expensive designer wear for rent and it will cost me around Rs 600 to Rs 2,000 for a day. There are many start-ups that provide expensive dresses for cheap rates, and they custom fit the outfit according to your measurements,’’ said Deepthi Pavagad, an operational manager at a private firm.
Anglin Correyo, a freelance photographer, rents bikes often, and says that renting has its own set of financial advantages. “For travelling long distances, a rented bike is easier on the pocket than a rickshaw. You have to shell out Rs 100 or Rs 120 to rent a bike for six to seven hours. A bike is convenient as one can stop on errands, without an argument with the rickshaw driver. The freedom and flexibility we get on a bike cannot be offered by cabs and rickshaws,’’ said Anglin Correo.
For Akhila Joseph Antony, renting means a hassle-free life as there are no maintenance costs or repair bills to deal with. “Renting furniture is easier as I don’t intend to stay here for long. Buying, reselling, and transportation furniture is a pain. It just costs me a monthly rent of '1,700 to get a refrigerator and sofa. There is also a wide range of options available online so there is no monotony as we can change it whenever we want to,’’ said Akhila, a civil services aspirant.
Business analyst Neelesh Kumar feels that buying new things is nothing but a liability. “I’d love to travel and move around before settling down in life. Buying new things is a liability that ties one down to a particular place. From play stations to laptops, you can get almost everything for rent. I have rented all my home decor from online sites,’’ said Neelesh.
