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 Choice Florida Realty, 4986 Park Forest Loop, Kissimmee Fl 34746 |
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| 1st Class Real T Treatment, 1631 Celleny Ct, Kissimmee Fl 34744 |
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| 2001 Broadway Realty, 7751 Black Lake Rd, Kissimmee Fl 34747 |
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| 2020 Vision Realty, 2473 Huron Cir, Kissimmee Fl 34746 |
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| 407 Realty, 601 Market St Unit 470354, Kissimmee Fl 34747 |
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| 52 Shares, 610 Sycamore St Ste 320, Kissimmee Fl 34747 |
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| A+ Home Rentals, 215 Celebration Pl Ste 170, Kissimmee Fl 34747 |
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| A1 Realty And Property Management, 2640 Michigan Ave Ste A, Kissimmee Fl 34744 |
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| Abc Investment Realty, 1881 Windward Oaks Ct, Kissimmee Fl 34746 |
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| Accent Realty Associates, 213 E Bass St, Kissimmee Fl 34744 |
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| Ackley Florida Property Management, 22 W Monument Ave Ste 1, Kissimmee Fl 34741 |
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| Ackley Florida Referral Network, 22 W Monument Ave Ste 1, Kissimmee Fl 34741 |
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| Ackley Realty, 22 W Monument Ave Ste 1, Kissimmee Fl 34741 |
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| Ads Florida, Po Box 470910, Kissimmee Fl 34747 |
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| Advanced Management Specialists, 1050 Plaza Dr Ste G, Kissimmee Fl 34743 |
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| Alexander Realty Group, 1722 Bridgets Ct, Kissimmee Fl 34744 |
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| All County Metro Property Management, 2949 Vineland Rd, Kissimmee Fl 34746 |
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| All Homes & Properties Corp, 2000 W Vine St, Kissimmee Fl 34741 |
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| All Realty Services Inc Of Orlando, 3160 Vineland Rd Ste 5a, Kissimmee Fl 34746 |
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| All Star Properties Of Central Florida, 26 N John Young Pkwy, Kissimmee Fl 34741 |
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| All Star Vacation Home Realty, 950 Celebration Blvd Ste A, Kissimmee Fl 34747 |
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| Allegiant Management Group, 803 Verona St, Kissimmee Fl 34741 |
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| Allied Realty, 7828 West Irlo Bronson Highway, Kissimmee Fl 34747 |
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| Alpha Homes And Investments, 1633 E Vine St Ste 106, Kissimmee Fl 34744 |
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| Amb Realty, Po Box 421378, Kissimmee Fl 34742 |
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| American Ideal Homes, 2810 Sleeping Dragon Ln, Kissimmee Fl 34747 |
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| American Property Management Group, 1000 Emmett St Ste 202, Kissimmee Fl 34741 |
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| Ara Realty, 400 Fountain Valley Ln, Kissimmee Fl 34759 |
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| Arista Realty Group, 507 Tapatio Ln, Kissimmee Fl 34759 |
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| Arista Realty Referral Group, 507 Tapatio Ln, Kissimmee Fl 34759 |
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| Ashtian Realty, 2747 Portchester Ct, Kissimmee Fl 34744 |
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| Atlantic Business Brokers, 1627 Oak Hill Trl, Kissimmee Fl 34747 |
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| Av Homes Legacy Developers, 395 Village Dr, Kissimmee Fl 34759 |
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| Avh Realty, 395 Village Dr, Kissimmee Fl 34759 |
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| Bache Realty, 721 Verona St, Kissimmee Fl 34741 |
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| Baker Realty Investments, Po Box 470607, Kissimmee Fl 34747 |
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| Beaulieu Realty, 3125 Harvest Ln, Kissimmee Fl 34744 |
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| Behlor Realty, Po Box 420729, Kissimmee Fl 34742 |
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| Benedetti Enterprises, 253 Genoa Ct, Kissimmee Fl 34758 |
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| Berkshire Hathaway Homeservices Results Realty, 206 1012 W. Emmett Street Suite More ... |
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| Best Realty 4 You, 1101 Miranda Ln Ste 131, Kissimmee Fl 34741 |
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| Better Homes And Gardens Real Estate Fine Living, 741 Front St Ste 130, Kissimme More ... |
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| Blackford Land Services, 1209 W Oak St # 2131, Kissimmee Fl 34741 |
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| Blue Apple Realty, 2785 Wells Ct, Kissimmee Fl 34744 |
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| Blue Sky Property Management Services, 720 Celebration Ave Ste 100, Kissimmee Fl More ... |
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| Blue Sky Realty Group, 720 Celebration Ave Ste 100, Kissimmee Fl 34747 |
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| Blue Sky Referrals, 720 Celebration Ave Ste 100, Kissimmee Fl 34747 |
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| Bnp Financial Group, 409 Tamarind Parke Ln, Kissimmee Fl 34758 |
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| Borchini Realty, 345 Sorrento Rd, Kissimmee Fl 34759 |
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| Brick & Mortar Community Service Organization, 3501 W Vine St Ste 524, Kissimmee More ... |
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| Bruce S Friedman, 639 Royalty Ct, Kissimmee Fl 34758 |
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| C L Steele Realty, 1501 E Wind Blvd, Kissimmee Fl 34746 |
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| C21 Blue Sky Realty Group, 720 Celebration Ave Ste 100, Kissimmee Fl 34747 |
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| Cambron Commercial Real Estate P A, 22 N Orlando Ave, Kissimmee Fl 34741 |
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| Captain America, 2200 E Trlo Bronson Mem Hwy Ste 204, Kissimmee Fl 34744 |
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| Carlos German And Team, 610 Sycamore St Ste 315, Kissimmee Fl 34747 |
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| Casa En Florida Realty, 3204 Townsend Ct, Kissimmee Fl 34743 |
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| Celebration Executive Realty, 1420 Celebration Blvd Ste 200, Kissimmee Fl 34747 |
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| Celebration Home Management Group Referrals, 741 Front St Ste 130, Kissimmee Fl More ... |
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| Celebration Real Estate Group, 741 Front St Ste 140, Kissimmee Fl 34747 |
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| Cfl Property Group, 8687 W Ibm Hwy Ste 200, Kissimmee Fl 34747 |
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| Champions Realty And Investments, 1420 Celebration Blvd Ste 200, Kissimmee Fl 34 More ... |
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| Chase Team Realty, 215 Celebration Pl Ste 520, Kissimmee Fl 34747 |
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| Clark Investment Properties, 1345 Shakerag Rd, Kissimmee Fl 34744 |
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| Clear Sun Holdings, 806 Verona St, Kissimmee Fl 34741 |
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| Coldwell Banker Ackley Realty, 22 W Monument Ave Ste 1, Kissimmee Fl 34741 |
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| Coldwell Banker Solomon, 780 Buenaventura Blvd, Kissimmee Fl 34743 |
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| Coldwell Banker West Realty, 7799 Styles Blvd, Kissimmee Fl 34747 |
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| Commerce Brokerage, 1061 Nash Dr, Kissimmee Fl 34747 |
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| Compass Medical Realty, 117b Broadway, Kissimmee Fl 34741 |
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| Compass Rose Real Estate Services, 1390 Celebration Blvd, Kissimmee Fl 34747 |
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| Cooperative Real Estate Orlando, 215 Celebration Pl Ste 520, Kissimmee Fl 34747 |
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| Coulter Team Realty & Associates, Po Box 470056, Kissimmee Fl 34747 |
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| Countrywide Realty Partners, 16 W Dakin Ave Ste B, Kissimmee Fl 34741 |
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| Cozy American Home Florida, 1633 E Vine St Ste 202, Kissimmee Fl 34744 |
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| Cq Universal Realty, 235 Royal Palm Dr, Kissimmee Fl 34743 |
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| D V Realty Consultants, 3137 Council Ct, Kissimmee Fl 34746 |
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| Dalouche Realty & Mortgage, 1734 Lee Janzen Dr, Kissimmee Fl 34744 |
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| Davies Realty, 104 Casavista Dr, Kissimmee Fl 34759 |
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| Dc Real Estate Services, 2225 W Orange Blvd, Kissimmee Fl 34741 |
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| Dean Bruner, Po Box 470686, Kissimmee Fl 34747 |
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| Dela Kai Realty, 318 N John Young Pkwy Ste 6, Kissimmee Fl 34741 |
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| Delegate Realty, 9015 Murano Mews Ct, Kissimmee Fl 34747 |
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| Dgl Realty, 1441 Fortune Retail Ct, Kissimmee Fl 34744 |
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| Dharman Realty, 236 Solivita Blvd, Kissimmee Fl 34759 |
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| Diamond Investments, 4730 Oren Brown Rd, Kissimmee Fl 34746 |
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| Dina Realty Group, 832 E Vine St, Kissimmee Fl 34744 |
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| Dowd Properties, 918 Westpark Dr Ste B, Kissimmee Fl 34747 |
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| Dream Builders Realty, 809 Mabbette St, Kissimmee Fl 34741 |
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| Elite International Realty Group, 1791 Gateway Ln, Kissimmee Fl 34746 |
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| Ellis Realty, 20 S Flag Ct, Kissimmee Fl 34759 |
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| Empire Realty & Management Services, 219 N John Young Pkwy, Kissimmee Fl 34741 |
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| Equity 1 Realty, 1101 Miranda Ln Ste 115, Kissimmee Fl 34741 |
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| Esg Investment Enterprise, 1046 Person St, Kissimmee Fl 34741 |
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| Evergreen Real Estate Services, 1420 Celebration Blvd Ste 200, Kissimmee Fl 3474 More ... |
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| Evista Resources Realty, 4683 Caverns Dr, Kissimmee Fl 34758 |
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| Exclusive Florida Villas, 7908 Sea Pearl Cir, Kissimmee Fl 34747 |
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| Exel Realty Corp, 3379 W Vine St Ste 309, Kissimmee Fl 34741 |
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| Ez Home Store, 1249 Radiant St, Kissimmee Fl 34747 |
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| Family Realty, Po Box 470419, Kissimmee Fl 34747 |
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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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