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 Key Realty, Po Box 953192, Lake Mary Fl 32795 |
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| 1st Metro Realty, 250 International Pkwy Ste 134, Lake Mary Fl 32746 |
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| All County Sterling Property Management, 3208 W Lake Mary Blvd Ste 1710, Lake Ma More ... |
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| Arborside Properties, 3272 W Lake Mary Blvd Ste 1830, Lake Mary Fl 32746 |
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| Areate Realty, 1540 Intrntl Pkwy Ste 2000, Lake Mary Fl 32746 |
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| Ashton Orlando Residential, 1064 Greenwood Blvd Ste 124, Lake Mary Fl 32746 |
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| Ashton Tampa Residential, 1064 Greenwood Blvd Ste 124, Lake Mary Fl 32746 |
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| Assist 2 Sell Foutz Realty Team, 736 Keeneland Pike, Lake Mary Fl 32746 |
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| Atrium Management Company, 3256 W Lake Mary Blvd Ste 1110, Lake Mary Fl 32746 |
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| Blue Chip Realty Preferred, 101 N Country Club Rd Ste 118, Lake Mary Fl 32746 |
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| Blue Chip Referrals, 101 N Country Club Rd Ste 119, Lake Mary Fl 32746 |
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| Blue Line International Realty, 276 Broadmoor Ave, Lake Mary Fl 32746 |
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| Bluriver Realty Group, 3232 W Lake Mary Blvd Ste 1410, Lake Mary Fl 32746 |
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| Bomar Investments, 235 Promenade Cir, Lake Mary Fl 32746 |
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| Breen Financial Management, 1515 Intrntl Pkwy Ste 1019, Lake Mary Fl 32746 |
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| Burk Properties, 820 Bright Meadow Dr, Lake Mary Fl 32746 |
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| Cibro Management, 1331 S Intrntl Pkwy Ste 1291, Lake Mary Fl 32746 |
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| Cimmaron Associates, 281 New Gate Loop, Lake Mary Fl 32746 |
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| Corporate Real Estate Services, 106 Commerce St Ste 109, Lake Mary Fl 32746 |
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| Crown Capital Group, 142 Parliament Loop Ste 1000, Lake Mary Fl 32746 |
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| Dapore Realty, 135 Middle St Ste 1031, Lake Mary Fl 32746 |
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| Devan Realty & Development Corp, 781 Pickfair Ter, Lake Mary Fl 32746 |
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| Dover International Company, 1307 S Intrntl Pkwy Ste 1091, Lake Mary Fl 32746 |
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| Dover International Realty, 1307 S Intrntl Pkwy Ste 1091, Lake Mary Fl 32746 |
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| Easy Street Realty Florida, 463 Mangrove Ct, Lake Mary Fl 32746 |
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| Engel & Voelkers Orlando Winter Park, 1540 International Pkwy # 200, Lake Mary F More ... |
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| Fact Business & Realty, 1166 Kersfield Cir, Lake Mary Fl 32746 |
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| Far Points Group, 600 Chocktaw St, Lake Mary Fl 32746 |
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| Fbx Commercial, 1540 Intrntl Pkwy Ste 2000, Lake Mary Fl 32746 |
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| Fixed Fee Realty, Po Box 950580, Lake Mary Fl 32795 |
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| Florida Dream Real Estate, 255 Primera Blvd, Lake Mary Fl 32746 |
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| Florida Global Properties, 1021 Paddington Ter, Lake Mary Fl 32746 |
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| Florida Homes Real Estate, 725 Preserve Ter, Lake Mary Fl 32746 |
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| Florida Investment Brokers, 1881 Bridgewater Dr, Lake Mary Fl 32746 |
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| Florida Property Network, 255 Primera 255 Primera Blvd Suite 160, Lake Mary Fl More ... |
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| Florida Property Network, 255 Primera Blvd Ste 1041, Lake Mary Fl 32746 |
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| Florida Property Valuations, 255 Primera Blvd Ste 160, Lake Mary Fl 32746 |
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| G&l Realty Group, 725 Primera Blvd Ste 115, Lake Mary Fl 32746 |
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| G2g Real Estate, Po Box 951447, Lake Mary Fl 32795 |
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| Gallery Of Homes Real Estate Professionals, 255 Primera Blvd Ste 160, Lake Mary More ... |
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| Gates Realty Group, 2605 W Lake Mary Blvd Ste 127, Lake Mary Fl 32746 |
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| Giroux Investment Realty Corp, 255 Primera Blvd Ste 160, Lake Mary Fl 32746 |
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| Global Homes Realty, 3264 Night Breeze Ln, Lake Mary Fl 32746 |
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| Global Net Realty, 788 Banana Lake Rd, Lake Mary Fl 32746 |
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| Global Realty 1, 115 International Pkwy, Lake Mary Fl 32746 |
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| Gloria Schneeman Realty Co, Po Box 950192, Lake Mary Fl 32795 |
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| Gs Management Group, 703 Cricklewood Ter, Lake Mary Fl 32746 |
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| Harkins Commercial, 3595 W Lake Mary Blvd Ste B, Lake Mary Fl 32746 |
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| Home Delivery Real Estate, 853 Paddington Ter, Lake Mary Fl 32746 |
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| Homelife Realty, 255 Primera Blvd Ste 160, Lake Mary Fl 32746 |
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| Homepro Properties, 801 International Pkwy Fl 5, Lake Mary Fl 32746 |
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| Homepro Properties, 801 International Pkwy # 5, Lake Mary Fl 32746 |
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| Integra Land Company, 1525 Intrntl Pkwy Ste 2001, Lake Mary Fl 32746 |
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| Investors Real Estate, 2910 W Lake Mary Blvd Ste 201, Lake Mary Fl 32746 |
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| Keller Williams Heritage Realty, 3737 Lake Emma Rd, Lake Mary Fl 32746 |
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| Korr Realty Corp, 122 N 4th St Ste 1006, Lake Mary Fl 32746 |
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| Kunert Management, 1540 Intrntl Pkwy Ste 2000, Lake Mary Fl 32746 |
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| Kunert Realty, 1540 Intrntl Pkwy Ste 2000, Lake Mary Fl 32746 |
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| Lake Monroe Reality, 1485 Intrntl Pkwy Ste 1031, Lake Mary Fl 32746 |
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| Lakes & Links International Realty, 1663 Redwood Grove Ter, Lake Mary Fl 32746 |
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| Land Sharks, 1190 Business Ctr Dr Ste 2000, Lake Mary Fl 32746 |
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| Lear Enterprises, 981 Paddington Ter, Lake Mary Fl 32746 |
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| Legends Realty, 290 Waymont Ct Ste 100, Lake Mary Fl 32746 |
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| Life Realty, 109 E Crystal Lake Ave Ste 107, Lake Mary Fl 32746 |
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| Lincoln Bp Management, 100 Col Ctr Pkwy Ste 170, Lake Mary Fl 32746 |
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| Lincoln Condominium Group, 100 Col Ctr Pkwy Ste 170, Lake Mary Fl 32746 |
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| Lincoln Eastern Management Corporation, 100 Colonial Center Prkwy Ste 170, Lake More ... |
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| Living Green Realty, 243 Broadmoor Ave, Lake Mary Fl 32746 |
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| Lpc Southeast I, 100 Col Ctr Pkwy Ste 170, Lake Mary Fl 32746 |
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| Luxury Water, 111 Feather Edge Loop, Lake Mary Fl 32746 |
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| M/i Homes, 400 International Pkwy Ste 470, Lake Mary Fl 32746 |
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| Management 123, Po Box 950067, Lake Mary Fl 32795 |
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| Mango Hut Property Management, 255 Primera Blvd Ste 160, Lake Mary Fl 32746 |
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| Masten Realty Group, 868 Silverwood Dr, Lake Mary Fl 32746 |
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| Mitchell Realty And Investments, 1563 Cherry Blossom Ter, Lake Mary Fl 32746 |
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| New Quarter, 937 Birmingham Ct, Lake Mary Fl 32746 |
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| New Southern Properties, 4300 W Lake Mary Blvd, Lake Mary Fl 32746 |
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| New Street Realty, 1009 Ridgemount Pl, Lake Mary Fl 32746 |
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| Newhome Com Realty Florida, 1485 Intrntl Pkwy Ste 1001, Lake Mary Fl 32746 |
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| Ngp Global Realty, 489 Devon Pl, Lake Mary Fl 32746 |
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| Ngp International Realty, 489 Devon Pl, Lake Mary Fl 32746 |
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| Northside Realty, 152 Morning Glory Dr, Lake Mary Fl 32746 |
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| Office Building Partners, 250 International Pkwy Ste 134, Lake Mary Fl 32746 |
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| Omni One Real Estate Referrals, Po Box 952767, Lake Mary Fl 32795 |
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| Omnione Realty Group, Po Box 952767, Lake Mary Fl 32795 |
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| Orange Management, 3899 W Lake Mary Blvd Ste 123, Lake Mary Fl 32746 |
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| Orlando Home Store, 203 E Greentree Ln, Lake Mary Fl 32746 |
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| Orlando Land And Investment Properties, 1418 Pinestream Ct, Lake Mary Fl 32746 |
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| Orlando Luxury Homes, 1301 1301 S. International Pkwy Suite 1005, Lake Mary Fl More ... |
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| Paradise Realty Group, 749 Silversmith Cir, Lake Mary Fl 32746 |
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| Parker Realty Group, 1246 Stonehaven Ct, Lake Mary Fl 32746 |
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| Pelloni Commercial Brokerage, 1025 Greenwood Blvd Ste 121, Lake Mary Fl 32746 |
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| Pilot Properties, Po Box 953034, Lake Mary Fl 32795 |
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| Pinnacle Development & Investments, 1525 Intrntl Pkwy Ste 4051, Lake Mary Fl 327 More ... |
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| Pinnacle Partnership, Po Box 950873, Lake Mary Fl 32795 |
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| Premier Realty Partners, 801 International Pkwy Ste 500, Lake Mary Fl 32746 |
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| Priority One Realty Group, Po Box 950877, Lake Mary Fl 32795 |
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| Providence One Realty, 400 Col Ctr Pkwy Ste 120, Lake Mary Fl 32746 |
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| R & E Realty, 290 Evansdale Rd, Lake Mary Fl 32746 |
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| R Michaels Realty, 1540 Intrntl Pkwy Ste 2000, Lake Mary Fl 32746 |
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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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