For a long time, conventional wisdom seemed to be that you grow up and buy a home because that’s just what you do. But lately, people are realizing that it isn’t always the smartest financial move. Obviously, the housing crisis has a lot to do with that—it’s made people question the standard assumption that homeownership equals financial stability.
Homeownership isn’t a good or bad idea on its own. It has everything to do with your own situation. Sometimes, buying a home is the smart thing to do; other times, it really isn’t. Whether or not it’s smart for you will depend on a few different factors. Here’s what you should keep in mind.
The biggest argument for owning a home is that it’s an “investment.” But a lot of people tend to overestimate the return on this investment.
People tend to believe that homes are appreciating assets, but this isn’t always true. Overall, the housing market doesn’t have a great long-term return. It barely outpaces inflation, in fact.
| 100 Pro Realty, 1616 Cape Coral Pkwy W Ste 102, Cape Coral Fl 33914 |
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| 1st Choice Property Management, 4828 Candia St, Cape Coral Fl 33904 |
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| 1st Class Realty, 1242 Sw Pine Isl Rd Ste 42-516, Cape Coral Fl 33991 |
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| 1st Community Realty, 1716 Cape Coral Pkwy W Ste 2, Cape Coral Fl 33914 |
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| 1st Realty, 1110 Del Prado Blvd S Ste A, Cape Coral Fl 33990 |
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| 4 Seasons Realty, 1615 Se 47th Ter Ste A, Cape Coral Fl 33904 |
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| 4 Seasons Referral, 1615 Se 47th Ter, Cape Coral Fl 33904 |
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| A A Associates Realty, 1402 Se 46th Ln, Cape Coral Fl 33904 |
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| A Competitive Edge Real Estate, 1023 Se 12th Ct, Cape Coral Fl 33990 |
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| Acheron Associates, 1412 Viking Ct, Cape Coral Fl 33904 |
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| Affinity Realty Group, Po Box 100689, Cape Coral Fl 33910 |
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| Allcape Realty, 3512 Del Prado Blvd S Ste 113, Cape Coral Fl 33904 |
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| Alvarado Realty Group, 1726 Nw 24th Pl, Cape Coral Fl 33993 |
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| American Brokers Realty Group, 2323 Del Prado Blvd S Ste 9, Cape Coral Fl 33990 |
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| American Pride Realty, 234 Sw 31st St, Cape Coral Fl 33914 |
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| American Properties Real Estate, 885 Se 47th Ter Ste D, Cape Coral Fl 33904 |
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| Amstate Advantage Realty, 4049 Del Prado Blvd S, Cape Coral Fl 33904 |
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| April Avenue Realty, 3734 Santa Barbara Blvd, Cape Coral Fl 33914 |
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| Aqua Realty Group Of Lee County, 4529 Se 16th Pl Ste 103, Cape Coral Fl 33904 |
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| Aranda Realty, 1326 Cape Coral Pkwy E, Cape Coral Fl 33904 |
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| Barclay Properties Group, 5336 Sw 11th Pl, Cape Coral Fl 33914 |
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| Barry Peterson Realty, 3922 Se 19th Ave, Cape Coral Fl 33904 |
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| Bay Water Realty, 160 Destiny Cir, Cape Coral Fl 33990 |
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| Best Invest Realty, 4406 Del Prado Blvd S # 6 # A, Cape Coral Fl 33904 |
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| Better Homes And Gardens Real Estate Gulf Shore, 5418 Sw 24th Pl, Cape Coral Fl More ... |
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| Bill Marron Real Estate, 907 Nw 18th St, Cape Coral Fl 33993 |
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| Blue Sky Realty, 5211 Skyline Blvd, Cape Coral Fl 33914 |
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| Bolcor Realty And Development, 2311 Santa Barb Blvd Ste 111-112, Cape Coral Fl 3 More ... |
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| Bonita Springs Realty, 2511 Se 19th Pl, Cape Coral Fl 33904 |
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| Builders Realty Services, 4707 Vincennes Blvd, Cape Coral Fl 33904 |
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| Camelot Realty Group, 102 Se 46th Ter, Cape Coral Fl 33904 |
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| Cape Coast Realty, 3929 Nw 41st Ter, Cape Coral Fl 33993 |
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| Cape Coral Enterprises, 1414 Se 12th Ter, Cape Coral Fl 33990 |
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| Cape Coral Real Estate & Rentals, 4921 Nassau Ct, Cape Coral Fl 33904 |
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| Cape Life Realty, 4845 Sw 24th Ave, Cape Coral Fl 33914 |
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| Cape Realty, 1616 Cape Coral Pkwy W Ste 117, Cape Coral Fl 33914 |
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| Cape Shore Realty, 4705 Vincennes Blvd Ste 4, Cape Coral Fl 33904 |
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| Carney Property Management, 2545 Sawgrass Lake Ct, Cape Coral Fl 33909 |
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| Carney Realty & Associates, 2110 Pondella Rd, Cape Coral Fl 33909 |
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| Cash Flow Realty, 246 Se 7th St, Cape Coral Fl 33990 |
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| Cc Houses, 1805 Sw 12th Ln, Cape Coral Fl 33991 |
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| Ccs Realty, 1406 Se 46th Ln Unit 2, Cape Coral Fl 33904 |
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| Century 21 Birchwood Realty, 4040 Del Prado Blvd S, Cape Coral Fl 33904 |
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| Century 21 Selling Paradise, 3409 Del Prado Blvd S Ste 103, Cape Coral Fl 33904 |
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| Century 21 Selling Paradise, 170 Sw 51st Ter, Cape Coral Fl 33914 |
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| Century 21 Sunbelt Realty #1, 725 Cape Coral Pkwy W, Cape Coral Fl 33914 |
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| Century 21 Sunbelt Realty, 506 Sw 47th Ter, Cape Coral Fl 33914 |
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| Century 21 Sunbelt Realty, 725 Cape Coral Pkwy W, Cape Coral Fl 33914 |
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| Charter Realty Group, Po Box 100203, Cape Coral Fl 33910 |
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| Coastal Realty Swfl, 3015 Sw Pine Island Rd Ste 111, Cape Coral Fl 33991 |
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| Comfort Homes Realty, 1113 Se 47th Ter Unit 4, Cape Coral Fl 33904 |
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| Cp Realty Network, 2434 Verdmont Ct, Cape Coral Fl 33991 |
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| Creative Realty, 531 Retunda Pkwy W, Cape Coral Fl 33904 |
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| Crown Shores Realty, 2710 Del Prado Blvd S Unit 2, Cape Coral Fl 33904 |
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| D And B Realty Inc Of Southwest Florida, 1517 Se 16th Pl Unit 1, Cape Coral Fl 3 More ... |
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| D R Zorn & Associates, 624 Sw 20th Ter, Cape Coral Fl 33991 |
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| Del Prado Realty, Po Box 101521, Cape Coral Fl 33910 |
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| Diamonds Real Estate, 4133 Se 10th Ct, Cape Coral Fl 33904 |
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| Discover Property Network, Po Box 100995, Cape Coral Fl 33910 |
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| Diversified Real Estate Services, 2022 Ne 17th Ave, Cape Coral Fl 33909 |
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| Dockside Realty, 107 Nw 9th St, Cape Coral Fl 33993 |
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| Dollar Investment Realty, Po Box 100744, Cape Coral Fl 33910 |
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| Douglas Realty & Development, 4821 Coronado Pkwy, Cape Coral Fl 33904 |
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| Dream Coast Management, 1811 Sw 46th Ter, Cape Coral Fl 33914 |
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| Dream Coast Realty, 1811 Sw 46th Ter, Cape Coral Fl 33914 |
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| Dynamic Assisted Living Brokerage, 2511 Se 20th Ave, Cape Coral Fl 33904 |
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| E Z Street Realty, 944 Country Club Blvd Ste 203, Cape Coral Fl 33990 |
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| Edison Real Estate Group, 914 Ne 24th Ln Ste 8, Cape Coral Fl 33909 |
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| Elite Team, 1222 Se 47th St # C1, Cape Coral Fl 33904 |
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| Elysium Realty, 4109 Sw 27th Ave, Cape Coral Fl 33914 |
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| Encore! Realty Services, 1710 Sw 53rd Ln, Cape Coral Fl 33914 |
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| Engel & Voelkers Cape Coral, 1031 Cape Coral Pkwy E, Cape Coral Fl 33904 |
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| Engel (&) Volkers Sanibel, 126 Sw 49th Ter, Cape Coral Fl 33914 |
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| Esquire Real Estate Services, 4905 Chiquita Blvd S Ste 103, Cape Coral Fl 33914 |
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| Exceptional Property Management, 3624 Del Prado Blvd S Ste D, Cape Coral Fl 3390 More ... |
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| Excite Realty, 1030 Se 9th Ave Unit 152355, Cape Coral Fl 33915 |
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| Experience Real Estate Group, 900 Sw Pine Island Rd Unit 107, Cape Coral Fl 3399 More ... |
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| Expert Advisors Realty Network, 3612 Nw 14th Ter, Cape Coral Fl 33993 |
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| Expo Realty, 3713 Embers Pkwy W, Cape Coral Fl 33993 |
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| Fast Closing Realty, 1405 Se 36th Ter, Cape Coral Fl 33904 |
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| Fgh Realty, 2130 Sw 48th Ter, Cape Coral Fl 33914 |
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| Florida 2000, 1639 Cape Coral Pkwy E Ste 102, Cape Coral Fl 33904 |
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| Florida Complete Realty, 3624 Del Prado Blvd S Ste A, Cape Coral Fl 33904 |
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| Florida Future Realty, 804 Nicholas Pkwy E Unit 3, Cape Coral Fl 33990 |
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| Florida Homes Realty Group, 4226 Del Prado Blvd S, Cape Coral Fl 33904 |
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| Florida Real Estate Assistance, 804 Nicholas Pkwy E Unit 3, Cape Coral Fl 33990 |
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| Florida Realty Team, 2326 Del Prado Blvd S, Cape Coral Fl 33990 |
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| Florida's 1st Choice Realty, 3606 Santa Barbara Blvd, Cape Coral Fl 33914 |
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| Florida's Link Realty, 3208 Ne 14th Ct, Cape Coral Fl 33909 |
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| G'vitale International Realty, 2511 Se 20th Ave, Cape Coral Fl 33904 |
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| Gcrn Properties, 4002 Del Prado Blvd S, Cape Coral Fl 33904 |
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| Gennaro Realty Group, 1222 Se 47th St Ste 301, Cape Coral Fl 33904 |
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| Gigahomes Real Estate, 1634 Se 47th St Unit 17, Cape Coral Fl 33904 |
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| Global Realty Of Southwest Florida, 3911 Sw 2nd Ave, Cape Coral Fl 33914 |
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| Go Florida Investments, 1224 Se 47th St Ste 404, Cape Coral Fl 33904 |
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| Gods House Realty, 1222 Nw 20th Ave, Cape Coral Fl 33993 |
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| Gold Key Properties, Po Box 309, Cape Coral Fl 33993 |
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| Greater Cape Realty, 1112 Nw 9th Ave, Cape Coral Fl 33993 |
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| Greider Realty, 12016 Matlacha Blvd, Cape Coral Fl 33991 |
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| Gulf Access Realty, Po Box 11, Cape Coral Fl 33993 |
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Over the past 100 years, home prices have only grown at a compound annual rate of 0.3%, adjusted for inflation. The S&P 500, on the other hand, has had an annual return of 6.5%. That’s a big difference.
While that single real estate asset might help protect you against inflation, a well-balanced stock and bond portfolio seems to be a better investment. But a lot of people’s portfolios are mostly made up of their home value. You wouldn’t put 80 percent of your portfolio in a bond simply to protect against inflation (unless maybe you were nearing retirement) so why would your home make up that same amount? That’s the argument against buying a home as investment.
When making the decision it is important to understand that buying a home might not be a great financial investment and to not forgo all of your investable assets in order to purchase a home because you are really purchasing a right to housing and not a long-term investment designed to generate income.
Most experts agree that while housing is an investment, it’s not a great investment. So if this is your only basis for buying a home, it’s probably not the best one.
Decide How Much You Can Afford: In deciding whether you can afford to buy, you’ll have to figure out how much home you’re planning on buying in the first place. One rule of thumb for figuring out this number: your home should cost no more than 2.5 times your salary. Of course, this just gives you a ballpark figure. It doesn’t consider your net worth.
Weigh the Opportunity Cost of Renting Versus Buying: While your home might not be the best investment, in the end, it’s still yours. Even if it barely outpaces inflation, at the end of the day, you own it, and that’s worth something. When you rent, you own nothing—the money is given to someone else. So lots of people argue that you should own a home because one day, you’ll pay that home off and it’ll be yours, rather than continuing to pay rent for the rest of your life.
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