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.
| Adami International Realty, 517 E Atlantic Ave, Delray Beach Fl 33483 |
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| Advanced Plus Realty, 660 Linton Blvd Ste 107, Delray Beach Fl 33444 |
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| Allied Realty 4, 113 Valencia E, Delray Beach Fl 33446 |
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| Allure Realty Group, 136 Cocoanut Rd, Delray Beach Fl 33444 |
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| American Realty Estates, 2803 S Federal Hwy # C, Delray Beach Fl 33483 |
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| Aspen Leaf Realty, 750 Egret Cir, Delray Beach Fl 33444 |
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| Atlantic Commercial Group, 98 Se 6th Ave, Delray Beach Fl 33483 |
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| Atlantic One Realty Group, 25 Se 3rd Ave, Delray Beach Fl 33483 |
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| Azure Develop, 290 Se 6th Ave Ste 5, Delray Beach Fl 33483 |
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| Azure Development, 290 Se 6th Ave Ste 5, Delray Beach Fl 33483 |
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| Bink Realty, 258 Se 6th Ave Ste 11, Delray Beach Fl 33483 |
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| Blue Coast Real Estate & Development Group, 110 E Atlantic Ave Ste 400a, Delray More ... |
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| Boca Brokers, 715 Foxpointe Cir, Delray Beach Fl 33445 |
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| Brent Advisors, 16405 Bridlewood Cir, Delray Beach Fl 33445 |
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| Broker Fl, Po Box 8361, Delray Beach Fl 33482 |
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| Bruce Alan Realty Advisers, 365 Se 6th Ave Apt 404, Delray Beach Fl 33483 |
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| Calco Development Corp, 123 E Atlantic Ave, Delray Beach Fl 33444 |
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| Capital Growth Corp, 10320 W Atlantic Ave, Delray Beach Fl 33446 |
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| Carmel Real Estate & Management, 1450 Sw 10th St Ste 8, Delray Beach Fl 33444 |
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| Carney Select Properties, 135 Se 5th Ave Ste 202, Delray Beach Fl 33483 |
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| Carol Newman Realty, 6434 Punta Rosa Dr, Delray Beach Fl 33446 |
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| Castle Florida Realty L L C, 150 N Swinton Ave Ste 100, Delray Beach Fl 33444 |
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| Cava Real Estate, 1310 Lake Dr, Delray Beach Fl 33444 |
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| Cbr Realty Group, Po Box 6820, Delray Beach Fl 33482 |
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| Championship Realty, 6538 Camarillo Terrace Ln, Delray Beach Fl 33446 |
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| Chozick Realty Of Florida, 7315 Morocca Lake Dr, Delray Beach Fl 33446 |
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| Chris Davey Realty, 319 E Mallory Cir, Delray Beach Fl 33483 |
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| Cnj Realty, 15367 Tall Oak Ave, Delray Beach Fl 33446 |
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| Coastal Commercial Group, 760 Se 5th Ave, Delray Beach Fl 33483 |
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| Coastal Property Pros, 226 Ne 7th Ave, Delray Beach Fl 33483 |
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| Complete Real Estate Solutions, 5050 W Atlantic Ave, Delray Beach Fl 33484 |
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| Crefdi Realty Advisors, 70 Se 4th Ave, Delray Beach Fl 33483 |
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| D'addio Realty, 3104 Lowson Blvd, Delray Beach Fl 33445 |
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| D.r.e.a.m, 160 Congress Park Dr Ste 114, Delray Beach Fl 33445 |
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| Daryl G Bush Realty, 70 Ne 5th Ave, Delray Beach Fl 33483 |
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| David Stein, 15602 Messina Isle Ct, Delray Beach Fl 33446 |
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| Dba Prime Properties, 15787 Menton Bay Ct, Delray Beach Fl 33446 |
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| Destinations Realty, 279 Ne 2nd Ave, Delray Beach Fl 33444 |
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| Divine Providence Realty, 16768 Oak Hill Trl Ste 1222, Delray Beach Fl 33484 |
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| Dna Properties, 636 E Atlantic Ave Ste 206, Delray Beach Fl 33483 |
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| Dockerty Romer & Co, 70 Se 4th Ave, Delray Beach Fl 33483 |
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| Edward Taylor Sharp, 2905 S Federal Hwy Ste C6, Delray Beach Fl 33483 |
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| Elite Realty Advisors, 1721 Nw 20th Ave Apt 103, Delray Beach Fl 33445 |
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| Ellish Realty Group, 16920 Silver Oak Cir, Delray Beach Fl 33445 |
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| Ellish Realty Group, 2605 W Atlantic Ave, Delray Beach Fl 33445 |
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| Empire Real Estate Of Florida, 2135 Nw 15th Pl, Delray Beach Fl 33445 |
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| Fenley Realty Company, 665 High Point Dr Apt D, Delray Beach Fl 33445 |
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| Fish Group, 9965 Marsala Way, Delray Beach Fl 33446 |
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| Florida Premier Re Mgt & Sales, 2275 S Federal Hwy Ste 330, Delray Beach Fl 3348 More ... |
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| Florida Referral Realty, 136 Cocoanut Rd, Delray Beach Fl 33444 |
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| Florida's Finest Realty, 16805 Crown Bridge Dr, Delray Beach Fl 33446 |
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| Fpa Enterprises, 4415 Regal Ct, Delray Beach Fl 33445 |
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| Front Porch Real Estate, 4875 Sherwood Forest Dr, Delray Beach Fl 33445 |
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| Gersper Realty & Investments, 101 Puglieses Way, Delray Beach Fl 33444 |
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| Gleneagles Country Club Realty, 7261 W Atlanctic Blvd, Delray Beach Fl 33446 |
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| Goldman Group Investments, 3437 Place Valencay, Delray Beach Fl 33445 |
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| H H H Management, 2206 W Atlantic Ave Ste 201, Delray Beach Fl 33445 |
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| Hamlet Realty, 4978 N Citation Dr Ste 103, Delray Beach Fl 33445 |
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| Hasson Real Estate & Management, 14394 Via Royale Apt 4, Delray Beach Fl 33446 |
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| Hc Real Estate Capital, 660 Linton Blvd Ste 200, Delray Beach Fl 33444 |
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| Herman J Soifer Real Estate, 7260 Via Verona, Delray Beach Fl 33446 |
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| Hibiscus Partners, 1010 Hibiscus Ln, Delray Beach Fl 33444 |
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| Highland Beach Realty, 2022 Alta Meadows Ln Apt 612, Delray Beach Fl 33444 |
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| Home & Business Partners, 601 N Congress Ave Ste 428, Delray Beach Fl 33445 |
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| Home Asset, 201 Palm Trl, Delray Beach Fl 33483 |
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| Homes Of Distinction Realty, 311 Capri G, Delray Beach Fl 33484 |
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| Hsl Realty, 160 Congress Park Dr, Delray Beach Fl 33445 |
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| Huntington Lakes Realty, 7261 W Atlantic Ave, Delray Beach Fl 33446 |
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| Huntington Pointe Realty, 7261 W Atlantic Ave, Delray Beach Fl 33446 |
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| Hutchison Real Estate Company, 1202 Crestwood Dr, Delray Beach Fl 33483 |
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| Incite Sales, 2605 Windham Ct, Delray Beach Fl 33445 |
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| Ironwood Realty, 1118 Waterway Ln, Delray Beach Fl 33483 |
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| J T Walsh Realty, 1040 Seasage Dr, Delray Beach Fl 33483 |
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| Jarvis Group, 1045 E Atlantic Ave Ste 200, Delray Beach Fl 33483 |
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| Jsm Realty Services, 15141 Sweetgum Ave, Delray Beach Fl 33446 |
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| Juno Beach Real Estate Co, 100 Ne 5th Ave, Delray Beach Fl 33483 |
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| Jw Florida Real Estate Services, 55 Se 2nd Ave, Delray Beach Fl 33444 |
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| Jz Boca Brokers, 14931 Via Porta, Delray Beach Fl 33446 |
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| Karen J Newman & Associates, 3905 Sea Grape Cir, Delray Beach Fl 33445 |
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| Karl E Scott, 4475 N Ocean Blvd, Delray Beach Fl 33483 |
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| Kesnel Exantus, 4324 S Magnolia Cir, Delray Beach Fl 33445 |
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| Kim Thomas Pa, 1138 Vista Del Mar Dr S, Delray Beach Fl 33483 |
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| Kings Point Realty Corp, 421 Saxony Way, Delray Beach Fl 33446 |
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| Knight Group, 123 E Atlantic Ave Fl 2, Delray Beach Fl 33444 |
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| Laguna Realty, 100 E Linton Blvd Ste 135a, Delray Beach Fl 33483 |
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| Lake Charleston Realty, 7261 W Atlantic Ave, Delray Beach Fl 33446 |
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| Landex Realty, 110 S Ocean Blvd, Delray Beach Fl 33483 |
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| Leal Usa Realty, Po Box 8361, Delray Beach Fl 33482 |
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| Lehmann Realty, 55 Se 2nd Ave Ste 210, Delray Beach Fl 33444 |
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| Lianessa Realty, 16154 Rio Del Sol, Delray Beach Fl 33446 |
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| Life Of Riley, 6304 Lasalle Rd, Delray Beach Fl 33484 |
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| Love Usa Real Estate, 1301 Sw 10th Ave, Delray Beach Fl 33444 |
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| Luxury Partners Realty, 16950 Jog Rd, Delray Beach Fl 33446 |
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| Luxury Resort Portfolio, 16463 Braeburn Ridge Trl, Delray Beach Fl 33446 |
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| M J Walters Company, 6767 Royal Orchid Cir, Delray Beach Fl 33446 |
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| Magnum Two, 13366 48th Trl S, Delray Beach Fl 33445 |
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| Mangrove Realty, 1461 E Bexley Park Dr, Delray Beach Fl 33445 |
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| Marinus Real Estate Company, 219 Venetian Dr, Delray Beach Fl 33483 |
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| Mascara Burns Real Estate Pa, 55 Se N2d Ave, Delray Beach Fl 33444 |
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| Meredith Commercial Real Estate Advisors, 2054 Alta Meadows Ln Apt 2408, Delray More ... |
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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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