American billionaire J Paul Getty, had a fairly simple solution to the rent-versus-buy debate: "If it appreciates, buy it. If it depreciates, lease it." However, the decision is not that simple these days with lenders offering attractive offers, especially on household electronics & furnishing. To boot, many argue that nothing compares to the feeling of ownership of, say, a car or a house. It could even be a status symbol. But from a purely financial angle, Bengalureans, primarily the floating population which changes job and city every three to four years, are just better off renting.
Source - http://economictimes.indiatimes.com/wealth/earn/why-renting-makes-sense-at-least-in-bengaluru/articleshow/50167726.cms