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.
| Adache Real Estate, 843 Se 8th Ave, Deerfield Beach Fl 33441 |
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| Agent Plus Realty, 206 S Military Trl, Deerfield Beach Fl 33442 |
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| Aim Realty Group, 1061 Sw 30th Ave, Deerfield Beach Fl 33442 |
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| America Realty, 825 S Federal Hwy Ste B, Deerfield Beach Fl 33441 |
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| Ancora Realty & Investments, 605 Se 10th St, Deerfield Beach Fl 33441 |
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| Ann Grainger Realty, 1601 Se 3rd Ct, Deerfield Beach Fl 33441 |
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| Appraisalsource, 1516 Se, Deerfield Beach Fl 33441 |
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| Atlantic Coast Group, 741 Villa Portofino Cir, Deerfield Beach Fl 33442 |
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| Beaver Properties, 290 Sw 12th Ave, Deerfield Beach Fl 33442 |
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| Bellrose Realty, 1215 E Hillsboro Blvd, Deerfield Beach Fl 33441 |
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| Bertelle Realty, 4142 Nw 6th St, Deerfield Beach Fl 33442 |
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| Boca Rent Finders, 327 Farnham P, Deerfield Beach Fl 33442 |
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| C&c Realty Usa, 3275 W Hillsboro Blvd Ste 306, Deerfield Beach Fl 33442 |
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| Campbell & Rosemurgy Real Estate, 1233 E Hillsboro Blvd, Deerfield Beach Fl 3344 More ... |
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| Campbell And Rosemurgy Real Estate, 1233 E Hillsboro Blvd, Deerfield Beach Fl 33 More ... |
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| Capital Business Solutions, 1525 Nw 3rd St Ste 9, Deerfield Beach Fl 33442 |
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| Capital Real Estate Professionals, 1525 Nw 3rd St Ste 9, Deerfield Beach Fl 3344 More ... |
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| Cardoso International Realty, 2400 Deer Crk Cc Blvd, Deerfield Beach Fl 33442 |
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| Casa Bella Investments, 1015 W Newport Ctr Dr Ste 106, Deerfield Beach Fl 33442 |
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| Casa Bella Realty And Management, 426 S Military Trl, Deerfield Beach Fl 33442 |
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| Casa Bella Realty, 1015 W Newport Ctr Dr Apt 106, Deerfield Beach Fl 33442 |
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| Century 21 Guspav Realty, 1646 Se 3rd Ct, Deerfield Beach Fl 33441 |
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| Commercial Department, 1548 Se 11th St, Deerfield Beach Fl 33441 |
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| Comres Brokerage Firm, 306 Nw 7th Ct, Deerfield Beach Fl 33441 |
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| Cozzi Properties, 3573 Deer Creek Palladian Cir, Deerfield Beach Fl 33442 |
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| Cre Investment Advisors, 2024 Oakridge D, Deerfield Beach Fl 33442 |
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| D M I Realty, 318 S Powerline Rd, Deerfield Beach Fl 33442 |
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| Di Martino Realty, 633 Ne 19th Ave, Deerfield Beach Fl 33441 |
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| Dns International Realty, 455 Fairway Dr Ste 100, Deerfield Beach Fl 33441 |
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| Dubman Real Estate, 1868 W Hillsboro Blvd, Deerfield Beach Fl 33442 |
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| Empire Global Financial Services, 265 S Federal Hwy # 252, Deerfield Beach Fl 33 More ... |
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| Find-a-home, 330 S Powerline Rd, Deerfield Beach Fl 33442 |
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| Florida Atlantic Real Estate, 665 Se 21st Ave Ste 102, Deerfield Beach Fl 33441 |
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| Florida Brokers Group, 1157 Sw 44th Way, Deerfield Beach Fl 33442 |
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| G&i Commercial Realty, 18 Peoples Trust Way, Deerfield Beach Fl 33441 |
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| Geiser & Associates Commercial Dev Group, 1645 Se 3rd Ct Ste 200, Deerfield Beac More ... |
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| George A Trask And Associates, 3130 Lake Shore Dr, Deerfield Beach Fl 33442 |
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| Global Assets Realty, 1761 W Hillsboro Blvd Ste 314, Deerfield Beach Fl 33442 |
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| Golden Realty Best Investment, 1130 S Powerline Rd Ste 103, Deerfield Beach Fl 3 More ... |
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| Hansen Homes, 453 Nw 38th Ave, Deerfield Beach Fl 33442 |
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| High Class Realty, 208 S Military Trl, Deerfield Beach Fl 33442 |
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| Himmelrich And Co, 805 E Hillsboro Blvd Ste 103, Deerfield Beach Fl 33441 |
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| Hofmann Home, 191 S Ocean Dr Apt 412, Deerfield Beach Fl 33441 |
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| Home Advantage Realty, 913 Se 10th Ct, Deerfield Beach Fl 33441 |
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| Homepath-realty, 603 Se 7th Ave, Deerfield Beach Fl 33441 |
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| Homesetpro International Realty, 10 Fairway Dr Ste 120, Deerfield Beach Fl 33441 |
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| Homezone Brokerage, 2253 Sw 17th Dr, Deerfield Beach Fl 33442 |
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| Ics, 411 S Federal Hwy Ste F, Deerfield Beach Fl 33441 |
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| Inland Realty Associates, 183 Deer Creek Blvd Ste 606, Deerfield Beach Fl 33442 |
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| Investin Real Estate Corp, 1114 Little Harbor Dr, Deerfield Beach Fl 33441 |
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| Investment Realty Advisors, 3010 Lyndhurst H, Deerfield Beach Fl 33442 |
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| Kender Realty, 4572 Sw 14th St, Deerfield Beach Fl 33442 |
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| Konover South Development Corporation, 431 Fairway Dr Ste 201, Deerfield Beach F More ... |
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| Kosker Realty, 1761 W Hillsboro Blvd Ste 314, Deerfield Beach Fl 33442 |
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| La Playa Real Estate, 817 Se 9th St, Deerfield Beach Fl 33441 |
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| Llg Asset Realty, 240 Sw 12th Ave, Deerfield Beach Fl 33442 |
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| M C A V A Real Estate, 406 W Hillsboro Blvd, Deerfield Beach Fl 33441 |
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| Maniscalco Realty, Po Box 5023, Deerfield Beach Fl 33442 |
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| Mck Realty, 1048 Sw 42nd Ave, Deerfield Beach Fl 33442 |
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| New Century Realty & Investments, 901 Tivoli Ter Apt 203, Deerfield Beach Fl 334 More ... |
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| Newshott Realty Group, 835 Se 9th St, Deerfield Beach Fl 33441 |
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| Number One Realty Corp, Po Box 979, Deerfield Beach Fl 33443 |
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| Ocean Club Rentals, 2345 W Hillsboro Blvd Ste 101, Deerfield Beach Fl 33442 |
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| Off Market Acquisitions & Dispositions, 426 S Military Trl, Deerfield Beach Fl 3 More ... |
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| Open To Close Realty, 225 Se 15th Ter, Deerfield Beach Fl 33441 |
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| Otten Realty, 293 Nw 36th Ave, Deerfield Beach Fl 33442 |
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| Palm Beach Business Brokers, 515 S Federal Hwy, Deerfield Beach Fl 33441 |
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| Palm Property Management Network, 2345 W Hillsboro Blvd Ste 101, Deerfield Beach More ... |
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| Park Partners Residential, 1201 E Hillsboro Blvd, Deerfield Beach Fl 33441 |
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| Phoenix International Realty And Management Co, 816 Se 9th St Ste A, Deerfield B More ... |
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| Preferred Realty & Management Services, 426 S Military Trl, Deerfield Beach Fl 3 More ... |
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| Premium Choice Realty, 1110 Sw 44th Way, Deerfield Beach Fl 33442 |
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| Pro Realty, 410 N Federal Hwy Ste 119, Deerfield Beach Fl 33441 |
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| Professional Direction Relocation Servies, 1631 Riverview Rd Apt 808, Deerfield More ... |
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| Proodian Properties L C, 333 Ne 21st Ave Apt 316, Deerfield Beach Fl 33441 |
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| Putnam Realty Group, 1191 E Newport Ctr Dr Ste 209, Deerfield Beach Fl 33442 |
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| R1s1 Realty Deerfield, 1807 W Hillsboro Blvd, Deerfield Beach Fl 33442 |
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| Realty Connection International, 431 Nw 36th Ave, Deerfield Beach Fl 33442 |
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| Realty Standard, 600 Fairway Dr Ste 109b, Deerfield Beach Fl 33441 |
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| Rent-a-home Realty, 330 S Powerline Rd, Deerfield Beach Fl 33442 |
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| Rentals Realty, 330 Se 19th Ave Unit H, Deerfield Beach Fl 33441 |
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| Retamar Real Estate Company, 823 E Hillsboro Blvd, Deerfield Beach Fl 33441 |
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| Riant Realty, 2173 Discovery Cir W, Deerfield Beach Fl 33442 |
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| Royal Star Banker Realty, 1415 Sw 45th Way, Deerfield Beach Fl 33442 |
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| Samco Properties, 455 Fairway Dr Ste 301, Deerfield Beach Fl 33441 |
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| Seer Corp, 89 Nw 44th Ter, Deerfield Beach Fl 33442 |
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| Six Hundred Jack, 632 Deer Creek Run, Deerfield Beach Fl 33442 |
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| Smart Property Moves, 10 Fairway Dr Ste 200, Deerfield Beach Fl 33441 |
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| Sol International Real Estate Services, 407 Liberty Ct, Deerfield Beach Fl 33442 |
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| South Florida Commercial Properties, 1421 Se 3rd Ct Apt 1, Deerfield Beach Fl 33 More ... |
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| Southeast Property Associates, 1645 Se 3rd Ct Ste 200, Deerfield Beach Fl 33441 |
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| Stebbins Brokers, 1701 W Hillsboro Blvd Ste 103, Deerfield Beach Fl 33442 |
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| Stor All Realty & Property Management, 1375 W Hillsboro Blvd, Deerfield Beach Fl More ... |
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| Total Realty Concepts, 244 Sw 12th Ave, Deerfield Beach Fl 33442 |
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| Two Brothers Brokerage, 1002 E Newport Ctr Dr Ste 200, Deerfield Beach Fl 33442 |
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| U S Realty Advisors, 1761 W Hillsboro Blvd Ste 315, Deerfield Beach Fl 33442 |
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| Venture Partners Realty, 1416 Se 3rd Ter, Deerfield Beach Fl 33441 |
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| Zay Management, 1166 W Newport Ctr Dr Ste 314, Deerfield Beach Fl 33442 |
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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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