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.
| A 1 Realty Of S L C, 602 W Midway Rd, Fort Pierce Fl 34982 |
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| Ajl Realty, Po Box 13011, Fort Pierce Fl 34979 |
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| Apical Properties, 5300 S Us Highway 1, Fort Pierce Fl 34982 |
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| Beachland Real Estate, 202 Riverwalk, Fort Pierce Fl 34949 |
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| Blue Goose Growers, 9901 Okeechobee Rd, Fort Pierce Fl 34945 |
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| Branca Realty, 715 Delaware Ave, Fort Pierce Fl 34950 |
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| By The Sea Real Estate, 2901 N Hwy A1a N Hutchinson Island, Fort Pierce Fl 3494 More ... |
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| Compass Real Estate Group, 1803 S 25th St Ste 1, Fort Pierce Fl 34947 |
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| Dean A. Dekker Realty Co, 4915 S Header Canal Rd, Fort Pierce Fl 34945 |
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| Doris White Realty, 723 N Us Highway 1, Fort Pierce Fl 34950 |
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| Dwd Realty, 11650 Twin Creeks Dr, Fort Pierce Fl 34945 |
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| Fleischman Realty Group, 220 Orange Ave, Fort Pierce Fl 34950 |
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| Florida Properties Of Fort Pierce, 800 Virginia Ave Ste 56, Fort Pierce Fl 34982 |
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| Foerst Realty & Management, 212 S 7th St, Fort Pierce Fl 34950 |
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| Fuller Armfield Wagner Apprl & Rsrch, 200 S Indian River Dr Ste 300, Fort Pierce More ... |
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| Harbour Isle Resales, 801 Seaway Dr, Fort Pierce Fl 34949 |
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| Hilson Realty Group, Po Box 12843, Fort Pierce Fl 34979 |
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| Holland & Minton Properties, 2451 S Ffa Rd, Fort Pierce Fl 34945 |
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| Investors Real Estate Corp, 5703 Paleo Pines Cir, Fort Pierce Fl 34951 |
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| Island Sun Real Estate, 5051 N Highway A1a Unit 9, Fort Pierce Fl 34949 |
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| Jacobson Auction & Realty Co, 2103 Sunrise Blvd, Fort Pierce Fl 34950 |
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| Jaga Realty, 2801 Industrial Avenue 2, Fort Pierce Fl 34946 |
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| Kenneth A Durham Realty, 850 S 21st St Ste O, Fort Pierce Fl 34950 |
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| La Costa Realty Corp, 2005 Mimosa Ave, Fort Pierce Fl 34949 |
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| Lakewood Realty Company, 5005 Turnpike Feeder Rd, Fort Pierce Fl 34951 |
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| Laurel Agency, 5804 Indian Pines Blvd, Fort Pierce Fl 34951 |
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| Lighthouse Realty & Investment Corp, 201 Fernandina St, Fort Pierce Fl 34949 |
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| Look Realty, 5300 Oleander Ave, Fort Pierce Fl 34982 |
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| Lowe Realty Corp, 4949 N Highway A1a Apt 131, Fort Pierce Fl 34949 |
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| M R A Realty, 5404 Eagle Dr, Fort Pierce Fl 34951 |
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| Macwilliam Group, 2195 N Kings Hwy, Fort Pierce Fl 34951 |
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| Mccurdy And Company Realty, 171 Melody Ln, Fort Pierce Fl 34950 |
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| Ocean Village Property Owners Association, 2400 S Ocean Dr, Fort Pierce Fl 34949 |
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| Osteen Appraisal Services, 112 Orange Ave, Fort Pierce Fl 34950 |
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| Ozzie Realty, 7319 Indrio Rd Ste 1, Fort Pierce Fl 34951 |
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| Palm Realty Management, 2805 N Highway A1a Apt B, Fort Pierce Fl 34949 |
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| Pare Realty, 5311 Echo Pines Cir E, Fort Pierce Fl 34951 |
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| Pelican International Realty, 200 S Indian River Dr Unit 205, Fort Pierce Fl 349 More ... |
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| Pelican Properties Inc Of St Lucie Couny, 7501 S Indian River Dr, Fort Pierce Fl More ... |
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| Pierce Harbor Realty, 117 Orange Ave, Fort Pierce Fl 34950 |
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| Potpourri, 10203 S Indian River Dr, Fort Pierce Fl 34982 |
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| Preferred Properties Unlimited, 3211 North A1a, Fort Pierce Fl 34949 |
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| R E A, 531 N 2nd St, Fort Pierce Fl 34950 |
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| Real Estate Stan Jackson, Po Box 4493, Fort Pierce Fl 34948 |
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| Realty Group Of America, 4144 Worlington Ter, Fort Pierce Fl 34947 |
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| Reef To Ranch Real Estate, 112 Orange Ave, Fort Pierce Fl 34950 |
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| Reico, 6300 Floyd Johnson Rd, Fort Pierce Fl 34947 |
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| Rerw, 2321 Sweetwater Dr, Fort Pierce Fl 34981 |
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| Robbins Realty, 1215 S 27th St, Fort Pierce Fl 34947 |
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| Robert M Barrett, 1600 Mariner Bay Blvd, Fort Pierce Fl 34949 |
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| Russell Properties Of Indian River, 17 Crown Ct, Fort Pierce Fl 34949 |
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| Savannahs Management, 4313 Gator Trace Dr, Fort Pierce Fl 34982 |
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| Society Living Realty, 1607 Laurel Leaf Ln Apt A, Fort Pierce Fl 34950 |
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| Southern Eagle Realty, 7501 S Indian River Dr, Fort Pierce Fl 34982 |
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| Sunrise City Realty, 3950 Sunrise Blvd, Fort Pierce Fl 34982 |
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| T C P P Brokerage, 2726 Serenity Cir S, Fort Pierce Fl 34981 |
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| Terra Firma Realty Group, 5711 Palmetto Dr, Fort Pierce Fl 34982 |
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| Walters-schrader Auction Company, 531 S Us Highway 1 Ste B, Fort Pierce Fl 34950 |
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| Warner Realty Group, 2720 Lucy Ln, Fort Pierce Fl 34981 |
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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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