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.
| 1st Floridian Corporation, 225 Beach Rd Apt 106, Jupiter Fl 33469 |
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| 684 Turk, 6749 Imperial Woods Rd, Jupiter Fl 33458 |
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| Admirals Cove Realty Co, 3535 Military Trl Ste 101, Jupiter Fl 33458 |
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| Adp Realty, 131 Ocean Grande Blvd, Jupiter Fl 33477 |
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| Affinity Property Group, 1931 Commerce Ln Ste 1, Jupiter Fl 33458 |
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| Anchor Realty Services, 3021 Jupiter Park Cir Ste 101, Jupiter Fl 33458 |
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| Apogee Real Estate Services, Po Box 2168, Jupiter Fl 33468 |
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| Apple Commercial Real Estate, 19649 N Riverside Dr, Jupiter Fl 33469 |
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| Are Solutions, 2430 24th Ct, Jupiter Fl 33477 |
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| Atlantic International Realty Group, Po Box 3634, Jupiter Fl 33469 |
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| Atlantic Real Estate International, 13194 169th Ct N, Jupiter Fl 33478 |
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| Auction Services Internationalflorida 100 Rea, 17140 Thunder Rd, Jupiter Fl 3347 More ... |
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| Award Business Brokers, 104 Seahorse Ln, Jupiter Fl 33477 |
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| Beach Town Real Estate, 900 E Indiantown Rd Ste 101, Jupiter Fl 33477 |
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| Bear Flag Properties, 19619 Trails End Ter, Jupiter Fl 33458 |
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| Bears Club Sothebys International Realty, 103 Bears Club Dr, Jupiter Fl 33477 |
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| Black Diamond Realty Services, 401 Pinecrest Cir Apt F, Jupiter Fl 33458 |
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| Bluffs Real Estate And Investment Properties, 4050 S Us Highway 1 Ste 320, Jupit More ... |
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| Bpg Realty, 601 Heritage Dr Ste 140, Jupiter Fl 33458 |
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| Broeman Carpenter Real Estate Corp, Po Box 359, Jupiter Fl 33468 |
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| Bsr Realty Group, 125 W Indiantown Rd Ste 204, Jupiter Fl 33458 |
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| Business Park Development Corp, 240 W Bay Cedar Cir, Jupiter Fl 33458 |
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| Business Real Estate, 825 S Us Highway 1 Ste 340, Jupiter Fl 33477 |
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| Callaway & Price, 1410 Park Ln S Ste 1, Jupiter Fl 33458 |
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| Callaway Realty, 19168 Loxahatchee River Rd, Jupiter Fl 33458 |
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| Camlet Copeland Realty, 275 Toney Penna Dr Ste 8, Jupiter Fl 33458 |
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| Campbell 1 Realty, 312 S Old Dixie Hwy # S201, Jupiter Fl 33458 |
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| Capital 21 Realty, 18890 Se Jupiter Rd, Jupiter Fl 33458 |
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| Charles James Real Estate, Po Box 4257, Jupiter Fl 33469 |
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| Christenson Elms Auction Company, 100 Waterway Rd Apt E206, Jupiter Fl 33469 |
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| City Center Realtors, 264 San Remo Dr, Jupiter Fl 33458 |
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| Clematis Realty, 18753 Se Federal Hwy, Jupiter Fl 33469 |
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| Coastal Commercial Real Estate, Po Box 2169, Jupiter Fl 33468 |
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| Coastal Florida Properties, 17581 122nd Dr N, Jupiter Fl 33478 |
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| Coastal Group Realty Advisors, Po Box 9261, Jupiter Fl 33468 |
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| Coastal Properties, 140 Intrcostal Pt Dr Ste 212, Jupiter Fl 33477 |
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| Coastal Real Estate Professionals, 725 N Highway A1a Ste D, Jupiter Fl 33477 |
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| Coastal Waterfront Realty, 4022 Community Dr, Jupiter Fl 33458 |
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| Coastside Properties, 4495 Military Trl Ste 109, Jupiter Fl 33458 |
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| Cobblestone Real Estate Group, 1203 Town Center Dr Ste 113, Jupiter Fl 33458 |
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| Cobblestone Realty, 1203 Town Center Dr Ste 113, Jupiter Fl 33458 |
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| Collins Florida Realty, 18560 Misty Lake Dr, Jupiter Fl 33458 |
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| Commercial Investment Realty Group, 7967 Se Rivers Edge St, Jupiter Fl 33458 |
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| Commercial Properties, 17 Bay Harbor Rd, Jupiter Fl 33469 |
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| Contractors Business Park Development, 240 W Bay Cedar Cir, Jupiter Fl 33458 |
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| Coral Shores Realty Palm Beach, 601 Heritage Dr Ste 110, Jupiter Fl 33458 |
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| Counselors Realty, 941 N Highway A1a, Jupiter Fl 33477 |
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| Country Development Realty, 10362 Se Terrapin Pl, Jupiter Fl 33469 |
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| Country First Realty, 725 N Highway A1a Ste B104, Jupiter Fl 33477 |
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| Crane Reed Properties, 967 N Highway A1a Alt Ste 3, Jupiter Fl 33477 |
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| Crane Reed Property Management, 967 Alternate A1a #2, Jupiter Fl 33477 |
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| Crosspointe Realty Advisors, Po Box 3120, Jupiter Fl 33469 |
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| Crossroads Real Estate Co, 50 S Us Highway 1 Ste 110, Jupiter Fl 33477 |
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| Cypress Holdings Of Florida, 18882 Se Old Trail Dr W, Jupiter Fl 33478 |
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| David Marshall & Associates, 725 Dakota Dr, Jupiter Fl 33458 |
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| Delta Group Realty Associates, 725 N Highway A1a, Jupiter Fl 33477 |
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| Deprez Team, 2141 S Us Highway 1, Jupiter Fl 33477 |
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| Desanctis Realty, 641 University Blvd Ste 201, Jupiter Fl 33458 |
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| Distinct Estates, 250 W Indiantown Rd Ste 103, Jupiter Fl 33458 |
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| Doctor's Choice Companies, 223 Shorewood Way, Jupiter Fl 33458 |
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| Domenica's Properties, 19141 Se Reach Island Ln, Jupiter Fl 33458 |
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| Down Payment, 183 Hampton Pl, Jupiter Fl 33458 |
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| Dreamworks One Source Real Estate, 661 Maplewood Dr Ste 12, Jupiter Fl 33458 |
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| Dubner Real Estate, 12994 170th Rd N, Jupiter Fl 33478 |
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| Engel & Voelkers Jupiter Real Estate, 400 S Us Highway 1 Ste 3, Jupiter Fl 33477 |
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| Esprit Realty, 250 Tequesta Dr Ste 203, Jupiter Fl 33469 |
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| Exit Realty Oceanside, 725 N Highway A1a Ste C, Jupiter Fl 33477 |
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| Faye Carter & Associates, 220 Venus St Ste 12, Jupiter Fl 33458 |
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| Ferm Real Estate, 127 Tierra Ln Apt 17, Jupiter Fl 33477 |
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| Fine Living Realty Of The Palm Beaches, 312 S Old Dixie Hwy Ste 208, Jupiter Fl More ... |
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| Firm Property Management, Po Box 1781, Jupiter Fl 33468 |
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| Flf Real Estate, 601 Heritage Dr Ste 227, Jupiter Fl 33458 |
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| Florida Coastal Living, 103 S Hwy 1 Suite E1, Jupiter Fl 33477 |
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| Florida Coastal Realty Group, 3900 E Indiantown Rd Ste 607-179, Jupiter Fl 33477 |
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| Florida Dental Practice Brokers, 185 E Indiantown Rd Ste 112, Jupiter Fl 33477 |
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| Florida Distinctive Properties, Po Box 3324, Jupiter Fl 33469 |
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| Florida Realty Referral Network, 4455 Military Trl Ste 100, Jupiter Fl 33458 |
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| Florida Trend Real Estate, 142 Pinehill Trl W, Jupiter Fl 33469 |
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| Frank Realty, 601 Heritage Dr Ste 111, Jupiter Fl 33458 |
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| Frankel Realty Group, 3535 Military Trl Ste 101, Jupiter Fl 33458 |
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| Fsbi Realty Co, 111 Sandpiper Cir, Jupiter Fl 33477 |
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| Golf Club Realty, 601 Heritage Dr # Suite437, Jupiter Fl 33458 |
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| Graham Auction Company, 19510 Us Highway 1, Jupiter Fl 33469 |
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| Grenz Enterprises Group, 222 River Park Dr, Jupiter Fl 33477 |
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| Gww Development, 900 S Us Highway 1 Ste 109, Jupiter Fl 33477 |
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| H Gohari Realty, 176 Queensland Ln, Jupiter Fl 33458 |
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| Harbourside Properties, 201 N Us Highway 1 Ste C3, Jupiter Fl 33477 |
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| Hartman Florida Real Estate, 18801 Misty Lake Dr, Jupiter Fl 33458 |
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| Health Care Reit, 661 University Blvd Ste 100, Jupiter Fl 33458 |
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| Healthcare Property Managers Of America, 661 University Blvd Ste 100, Jupiter Fl More ... |
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| Heavens Gate Realty, 18175 Se Federal Hwy, Jupiter Fl 33469 |
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| Helgevold Brackett Demers Invstmnt Prpts, 18801 Se Mack Dairy Rd, Jupiter Fl 334 More ... |
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| Homebuyers, 17170 Alexander Run, Jupiter Fl 33478 |
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| Hrg Referral Company, 654 W Indiantown Rd Ste 110, Jupiter Fl 33458 |
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| Hughes Realty Group, 654 W Indiantown Rd Ste 110, Jupiter Fl 33458 |
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| Index Realty, 1044 N Us Highway 1 Ste 101, Jupiter Fl 33477 |
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| Investpro Properties, 601 Heritage Dr # 472, Jupiter Fl 33458 |
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| Ira, Po Box 8464, Jupiter Fl 33468 |
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| Island Bridge Realty, 609 N Hepburn Ave Ste 105, Jupiter Fl 33458 |
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| Island Time Properties, 126 Center St Ste B6, Jupiter Fl 33458 |
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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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