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.
| Affordable Real Estate Services, 8409 Eagles Loop Cir, Windermere Fl 34786 |
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| Agency International Realty, 8260 Tibet Butler Dr, Windermere Fl 34786 |
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| All Real Estate Appraisals, 9232 Woodbreeze Blvd, Windermere Fl 34786 |
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| Allied Commercial Partners, 12639 Butler Bay Ct, Windermere Fl 34786 |
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| Aps Realty Group Pa, 12659 Arley Dr, Windermere Fl 34786 |
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| Aspenlight, 13506 Summerport Village Pkwy, Windermere Fl 34786 |
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| B Live Pro, 8369 Bowden Way, Windermere Fl 34786 |
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| B Live Real Estate, 8369 Bowden Way, Windermere Fl 34786 |
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| Blue Springs Realty Partners, 2510 Meadowview Cir, Windermere Fl 34786 |
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| Bradley Corporation Of Winter Park, 6276 Blakeford Dr, Windermere Fl 34786 |
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| British Homes Group, 303 1/2 E 8th Ave, Windermere Fl 34786 |
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| Castle & Cooke Real Estate Services, 527 Main St, Windermere Fl 34786 |
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| Charter Property Management, 10520 Park Ridge Gotha Rd, Windermere Fl 34786 |
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| Circle Home Realty, 11940 Camden Park Dr, Windermere Fl 34786 |
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| Clearpoint Investments, 8351 Bowden Way, Windermere Fl 34786 |
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| Coggan Realty, 6320 Lake Smith Cir, Windermere Fl 34786 |
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| Commercial Real Estate Professionals, 920 Main St, Windermere Fl 34786 |
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| Cotton Realty & Associates, 79 Main St, Windermere Fl 34786 |
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| Covenant Realty Group, 11533 Delwick Dr, Windermere Fl 34786 |
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| Dansco Realty Corporation, Po Box 2226, Windermere Fl 34786 |
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| Dantin Realty Corp, 2936 Midsummer Dr, Windermere Fl 34786 |
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| Demetrius Real Estate, 11325 Center Lake Dr Unit 2101, Windermere Fl 34786 |
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| Dilson Caputo International Real Estate Corp, Po Box 2533, Windermere Fl 34786 |
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| Dvc Resale Market, 79 Main St, Windermere Fl 34786 |
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| Fairbanks Group, 3429 Bay Meadow Ct, Windermere Fl 34786 |
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| Fhc Realty, Po Box 1015, Windermere Fl 34786 |
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| Florida Golf And Beaches, 8202 Serenity Spring Dr, Windermere Fl 34786 |
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| Florida Realty Associates, 920 Main St, Windermere Fl 34786 |
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| Florida Realty Exchange, 13506 Summerport Village Pkwy, Windermere Fl 34786 |
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| Frontline Florida Realty, 1600 Glenwick Dr, Windermere Fl 34786 |
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| Gargoyle Real Estate, 13794 Brgwtr Xing Blvd Apt 108, Windermere Fl 34786 |
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| Generous Investment Properties, Po Box 352, Windermere Fl 34786 |
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| Go Florida Realty, 8409 Eagles Loop Cir, Windermere Fl 34786 |
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| Gold Key Homes & Investments, 11567 Vicolo Loop, Windermere Fl 34786 |
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| Greenergy Realty, 13506 Summerpt V Pkwy Ste 266, Windermere Fl 34786 |
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| H&r Properties Of Central Florida, Po Box 726, Windermere Fl 34786 |
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| Hand Picked Realty Corporation, 13506 Summerpt V Pkwy Unit 272, Windermere Fl 34 More ... |
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| Harvin & Associates Intl Realty, Po Box 1191, Windermere Fl 34786 |
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| Hexagon, 8318 Boyla Ct, Windermere Fl 34786 |
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| Independence Realty And Investments, 10939 Ledgement Ln, Windermere Fl 34786 |
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| Infinity Realty Group, 5131 Tildens Grove Blvd, Windermere Fl 34786 |
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| Innovate, 8533 Greenbank Blvd, Windermere Fl 34786 |
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| International Golf And Beaches Realty, 8202 Serenity Spring Dr, Windermere Fl 34 More ... |
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| International Real Estate Marketing, Po Box 921, Windermere Fl 34786 |
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| Irwin Realty Group, 11403 Citra Cir Ste 208, Windermere Fl 34786 |
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| Isleworth Realty, 9350 Conroy Windermere Rd, Windermere Fl 34786 |
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| J & D Florida Select Properties, 11775 Via Lucerna Cir, Windermere Fl 34786 |
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| J & F Management Corporation, Po Box 1650, Windermere Fl 34786 |
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| John H Cairns, 11128 Lake Butler Blvd, Windermere Fl 34786 |
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| Keene's Pointe Realty, 527 Main St, Windermere Fl 34786 |
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| Knob Creek Realty, 9685 Wild Oak Dr, Windermere Fl 34786 |
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| Lakeside Realty Windermere, 430 Main St, Windermere Fl 34786 |
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| Lakeside Referrals, 430 Main St, Windermere Fl 34786 |
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| Land Plus, Po Box 135, Windermere Fl 34786 |
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| Lexington Park Real Estate, 6036 Greatwater Dr, Windermere Fl 34786 |
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| Liink Corporation, 14545 Bluebird Park Rd, Windermere Fl 34786 |
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| Luxemark Realty, Po Box 3085, Windermere Fl 34786 |
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| Lynda Cassidy Realty, 3138 Seigneury Dr, Windermere Fl 34786 |
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| Magic Key Realty, 13506 Summerpt V Pkwy # 362, Windermere Fl 34786 |
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| Make A Brilliant Move Realty, 9300 Conroy Windermere Rd Unit 2227, Windermere Fl More ... |
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| Matik Global Realty, Po Box 706, Windermere Fl 34786 |
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| May Ho Realty, 11600 Brickyard Pond Ln, Windermere Fl 34786 |
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| Mba Realty Group, Po Box 1582, Windermere Fl 34786 |
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| Mcnally Realty, Po Box 818, Windermere Fl 34786 |
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| Mct Global Realty, Po Box 2934, Windermere Fl 34786 |
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| Mct Realty International, Po Box 2934, Windermere Fl 34786 |
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| Metro Brokers Realty, 13796 Brgwtr Xing Blvd Ste 1000, Windermere Fl 34786 |
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| Oakland Park Realty, Po Box 921, Windermere Fl 34786 |
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| Once Upon A Swiss Dream, 6436 Golden Dewdrop Trl, Windermere Fl 34786 |
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| Orlando Golf Estates, 2020 Water Key Dr, Windermere Fl 34786 |
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| Orlando Hub Real Estate, 12619 Lake Butler Blvd, Windermere Fl 34786 |
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| Orlando Realty Solutions, 6209 Talaria Dr, Windermere Fl 34786 |
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| Page One Property Management, Po Box 2386, Windermere Fl 34786 |
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| Park Place Realty & Investments, 11318 Shandon Park Way, Windermere Fl 34786 |
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| Prestige Luxury Estates, Po Box 1811, Windermere Fl 34786 |
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| Property Stop, 5540 Remsen Cay Ln, Windermere Fl 34786 |
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| Qs Group, 13794 Bridewater Crossings Blvd, Windermere Fl 34786 |
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| Ramases Properties, Po Box 432, Windermere Fl 34786 |
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| Real Estate Simplified, 11346 Rapallo Ln, Windermere Fl 34786 |
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| Real Property International, Po Box 686, Windermere Fl 34786 |
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| Realty International, 920 Main St, Windermere Fl 34786 |
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| Redweek Real Estate, 13506 Summerport Parkway #712, Windermere Fl 34786 |
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| Remax Prime Properties, 1515 Lake Whitney Dr, Windermere Fl 34786 |
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| Roche Real Estate, 3118 Butler Bay Dr N, Windermere Fl 34786 |
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| Rolls Realty, 12827 Water Point Blvd, Windermere Fl 34786 |
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| Romain Realty, 9300 Conroy Windermere Rd Unit 3281, Windermere Fl 34786 |
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| Roman Realty Group, 2121 Lilypad Ln, Windermere Fl 34786 |
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| Rossiter Commercial Real Estate, 8058 Tibet Butler Dr, Windermere Fl 34786 |
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| Saab Realty Group, 605 Butler St, Windermere Fl 34786 |
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| Sand Lake Realty, 501 Main St, Windermere Fl 34786 |
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| Schools For Sale, 8409 Tibet Butler Dr, Windermere Fl 34786 |
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| Serendipity Realty, 11002 Lake Butler Blvd, Windermere Fl 34786 |
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| Small Business Realty, 8409 Tibet Butler Dr, Windermere Fl 34786 |
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| Smith Property Group, 92 Pine St, Windermere Fl 34786 |
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| Socarras & Company, Po Box 257, Windermere Fl 34786 |
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| Southern Realty Group Associates, Po Box 681, Windermere Fl 34786 |
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| Southern Realty Group, Po Box 681, Windermere Fl 34786 |
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| Specialized Real Estate Of Florida, 13629 Lake Cawood Dr, Windermere Fl 34786 |
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| Strimple Realty, Po Box 504, Windermere Fl 34786 |
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| Strimple Referral Group, Po Box 504, Windermere Fl 34786 |
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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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