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.
| Aero Real Estate & Development Corp, 18205 30th St, Lutz Fl 33559 |
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| Amazon Realty & Management Company, 14947 Lake Forest Dr, Lutz Fl 33559 |
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| American Dream Realty Network, 1834 Woodcut Dr, Lutz Fl 33559 |
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| Apartment Locators, 211 Crystal Grove Blvd Ste 101, Lutz Fl 33548 |
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| Arce Realty, 219 Willow Bend Pkwy, Lutz Fl 33549 |
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| Associates Referral Network, 24140 S R 54 Suite 101, Lutz Fl 33559 |
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| Ayra Real Estate, 926 Lake Charles Cir, Lutz Fl 33548 |
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| Bay Realty Of Florida, 16514 N Florida Ave, Lutz Fl 33549 |
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| Bay Vista Realty, 21035 Leonard Rd, Lutz Fl 33558 |
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| Bay Vista Realty Referral Group, 21035 Leonard Rd, Lutz Fl 33558 |
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| Buyers Home Store, State Road 54, Lutz Fl 33559 |
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| Capital Realty Referral Network, 23612 State Road 54, Lutz Fl 33559 |
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| Deborah Ordman Real Estate Corporation, 3959 Van Dyke Rd Ste 201, Lutz Fl 33558 |
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| Dennis Property Management, 1022 Land O Lakes Blvd, Lutz Fl 33549 |
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| Dennis Realty & Investments Corp, 1022 Land O Lakes Blvd, Lutz Fl 33549 |
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| Doyle & Mcgrath Real Estate, 19005 N Dale Mabry Hwy, Lutz Fl 33548 |
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| Drinkard & Company, 17006 Paula Ln, Lutz Fl 33558 |
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| Era Gulfcoast Realty, 18954 N Dale Mabry Hwy Ste 102, Lutz Fl 33548 |
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| Esquire Property Group, 24814 State Road 54, Lutz Fl 33559 |
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| Excellecore Group, 25344 Wesley Chapel Blvd, Lutz Fl 33559 |
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| Executive Appraisals And Realty, 1920 Vandervort Rd, Lutz Fl 33549 |
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| Exit Elite Realty, 19314 Sea Mist Ln, Lutz Fl 33558 |
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| F R A Realty Services, 18250 Clear Lake Dr, Lutz Fl 33548 |
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| Ferrin Realty, 205 Crystal Grove Blvd Ste 102, Lutz Fl 33548 |
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| First Florida Realty Of Tampa Bay, 1427 Hounds Hollow Ct, Lutz Fl 33549 |
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| First Quality Homes, 20200 Graham Ln, Lutz Fl 33558 |
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| First Referral Realty, 1022 Land O Lakes Blvd, Lutz Fl 33549 |
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| Florida Executive Brokers, 4619 Rue Bordeaux, Lutz Fl 33558 |
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| Florida Family Real Estate Services, 17717 Hunting Bow Cir Unit 101, Lutz Fl 335 More ... |
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| Florida Home Rental Properties, 278 Crystal Grove Blvd, Lutz Fl 33548 |
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| Freyre Real Estate, 19331 Aqua Springs Dr, Lutz Fl 33558 |
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| Germino Realty, 22704 Magnolia Trace Blvd, Lutz Fl 33549 |
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| Gordon & Associates Realty, 3959 Van Dyke Rd Ste 381, Lutz Fl 33558 |
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| Greater Tampa Bay Realty, 2019 Osprey Ln, Lutz Fl 33549 |
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| Hatfield & Mccoy Realty, 278 Crystal Grove Blvd, Lutz Fl 33548 |
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| Herr Valuation Advisors, 1422 Kensington Woods Dr, Lutz Fl 33549 |
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| Hogan Group, 16506 Pt Village Dr Ste 201, Lutz Fl 33558 |
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| Hogan Group, 16506 Pt Village Dr Ste 103, Lutz Fl 33558 |
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| Homes For Sale Florida, 17953 Hunting Bow Cir Ste 102, Lutz Fl 33558 |
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| Johanson & Associates, 24140 State Road 54 Ste 101, Lutz Fl 33559 |
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| Kelly Real Estate Services, 19909 N Us Highway 41, Lutz Fl 33549 |
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| Key Lime Real Estate, Po Box 264, Lutz Fl 33548 |
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| Level 3 Real Estate, 19720 Prince Benjamin Dr, Lutz Fl 33549 |
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| Live Real Estate Services, 17878 N Us Highway 41, Lutz Fl 33549 |
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| Lyons Heritage Tampa, 17852 N Us Highway 41, Lutz Fl 33549 |
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| Marlin Realty& Investments, 16540 Pt Village Dr Ste 201c, Lutz Fl 33558 |
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| Mcgrath Business Group, 19005 N Dale Mabry Hwy, Lutz Fl 33548 |
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| Mihara & Associates, 1407 Merry Water Dr, Lutz Fl 33548 |
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| Murray Bell Real Estate, 2504 Chateau Dr, Lutz Fl 33559 |
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| Murray Bell Referral Network, 2504 Chateau Dr, Lutz Fl 33559 |
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| National Era Servicing, 19239 N Dale Mabry Hwy # 138, Lutz Fl 33548 |
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| Panda Realty Services, 17904 Havenview Ln, Lutz Fl 33558 |
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| Pelham Real Estate Company, 1026 Crystal Lake Rd, Lutz Fl 33548 |
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| Phoenix Realty Southeast, 18735 Geraci Rd, Lutz Fl 33548 |
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| Quail Hollow Realty & Investment, 4744 Tampa Downs Blvd, Lutz Fl 33559 |
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| R J King & Associates, 18907 Fishermans Bend Dr, Lutz Fl 33558 |
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| R&r Ugol, 18832 Rue Loire, Lutz Fl 33558 |
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| Rairigh Realty & Investments, 1715 Ryan Dr, Lutz Fl 33549 |
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| Re/max Capital Realty, 23612 State Road 54, Lutz Fl 33559 |
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| Real Choice Realty, 18489 N Us Highway 41 Unit 1089, Lutz Fl 33548 |
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| Realtrust Realty, 2000 Sweetbroom Cir Apt 208, Lutz Fl 33559 |
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| Referral Connections, 18954 N Dale Mabry Hwy Ste 101, Lutz Fl 33548 |
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| Releve Real Estate, 18865 State Road 54 # 233, Lutz Fl 33558 |
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| Renaissance International Real Estate & Investments, 5103 Rue Vendome, Lutz Fl 3 More ... |
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| Residences, Po Box 954, Lutz Fl 33548 |
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| Restaurants For Sale, 17953 Hunting Bow Cir Ste 102, Lutz Fl 33558 |
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| Rp Realty Group, 18234 Clear Lake Dr, Lutz Fl 33548 |
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| Shine Bright Realty, 1915 Rebecca Rd, Lutz Fl 33548 |
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| Starlight Realty, 3630 Little Rd, Lutz Fl 33548 |
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| Stratus Corporate Finance, 17405 Lotino Pl, Lutz Fl 33548 |
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| Structure Property Group, 4310 Place Le Manes, Lutz Fl 33558 |
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| Sun Realty Estate Agents, 1532 Land O Lakes Blvd Ste C, Lutz Fl 33549 |
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| Suncorp Properties, 18606 Avenue Capri, Lutz Fl 33558 |
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| Tailwind Commercial Brokers, 18904 Adams Country Way, Lutz Fl 33559 |
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| Tampa Bay Premier Realty, 5314 Van Dyke Rd, Lutz Fl 33558 |
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| Teamkar Realty, 24814 State Road 54, Lutz Fl 33559 |
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| Tony Miller & Associates, 17123 Rich Jo Cir, Lutz Fl 33548 |
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| T\a Willis & Associates, 19515 Deer Lake Rd, Lutz Fl 33548 |
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| Us Business Brokers, 17419 Varona Pl, Lutz Fl 33548 |
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| Varas Group, 26614 Magnolia Blvd, Lutz Fl 33559 |
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| Wall Street Properties, 17812 N Us Highway 41, Lutz Fl 33549 |
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| Wild Realty And Investment Company, 26650 Wesley Chapel Blvd Ste B, Lutz Fl 3355 More ... |
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| Willis Realty, 1440 Hounds Hollow Ct, Lutz Fl 33549 |
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| Wise Property Management, 17824 N Us Highway 41, Lutz Fl 33549 |
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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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