Owning a home is often seen as a major financial milestone. But a 28-year-old woman from Tripura is reminding people that the monthly loan payment is only one part of the story. In a recent Instagram video, Borni Banik broke down the recurring costs that come with owning an apartment near Paris and compared them with the cost of renting a similar property in the same area.

Her video focuses on something many first-time buyers may not think about until after purchasing a home — the extra charges that continue every month and every year, even after the mortgage begins.

A breakdown of the monthly and yearly costs

Explaining her calculations, Banik said, "I bought an apartment near Paris at the age of 28 and no one talks about how much it ends up costing every month apart from the EMI. Wait till the end to find out how much it cost versus how much it would have been costed if it was only rental."

She then listed the different expenses attached to owning her 44-square-metre apartment.

"So there is loan insurance which is around 29 euros per month, there's building charges around 400 per quarter so it's four times a year, there's tax sponsor which is around 800 euros per year, insurance at around 210 per year, electricity 80 euros per month, wi-fi 30 euros per month, so it's around 600-650 euros per month."

According to her, these are the costs people often overlook while planning to buy a home.

Banik holds a Bachelor’s degree in Banking and management from Symbiosis College of Arts & Commerce. As per her Instagram account, she got married to a Frenchman a few years back.

Renting the same apartment would cost more

Banik also compared those ownership expenses with rental prices in her neighbourhood. "Let's compare how much would be 44 meter square apartment with the 10 meter square balcony in my area. It would be 1200 and 1400 including everything."

She pointed out that the main additional cost of ownership is the interest paid on the home loan.

"What we are paying extra is the interest that is being adding up. This is the version of conversation you don't get to hear often. If you want more real money talks and life abroad follow Varni Manik. Bye!"

In the caption of her post, she added, "I bought an apartment in Paris at 28. No family money, no shortcuts — just numbers and a plan. But nobody told me what I’d actually still be paying for it every single month. Owning isn’t the finish line people make it out to be — it’s a different set of numbers, and most of us never see them until we’re already in it."

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Social media reacts to the financial reality

The post received several responses from people who appreciated the detailed explanation. One user wrote, "Love how transparent this is!"

Another commented, "Very helpful and informative. These hidden/ suprise costs can really impact your budgeting."

Responding to discussions under the post, Banik clarified that she was not discouraging people from buying a house. She wrote, "Buying is still a good move for a lot of people — this is just the part that doesn’t make it into the mortgage calculator."

She further added, "not discouraging anyone. just adding the numbers that come after ‘approved."

Others used the comments to ask about down payment, mortgage rates, taxes, insurance, and whether buying property in France remains worthwhile. Some also noted that expenses such as electricity, Wi-Fi and tenant insurance are paid by renters as well, although ownership may involve higher maintenance and insurance costs.