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.
| Abba Realty Services, Po Box 5153, Winter Park Fl 32793 |
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| Ac Commercial Realty, 1350 Orange Ave Ste 100, Winter Park Fl 32789 |
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| Acre Commercial Real Estate, 126 S Park Ave Ste C, Winter Park Fl 32789 |
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| Acton Group Managers, 200 E Canton Ave Ste 102, Winter Park Fl 32789 |
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| Acton Management Lllp, 200 E Canton Ave Ste 102, Winter Park Fl 32789 |
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| Albekord, Po Box 4028, Winter Park Fl 32793 |
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| Alexander Investments Realty Corp, 174 W Comstock Ave Ste 112, Winter Park Fl 32 More ... |
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| Amcar Realty Group, 3458 Arnel Dr, Winter Park Fl 32792 |
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| American Icon Resorts, 201 N New York Ave Ste 200, Winter Park Fl 32789 |
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| Anderson Property Management, 1340 Palmetto Ave, Winter Park Fl 32789 |
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| Apartment Realty Advisors Of Florida, 941 W Morse Blvd Ste 100, Winter Park Fl 3 More ... |
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| Appel Consulting, Po Box 714, Winter Park Fl 32790 |
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| Apple Realty, 2431 Lee Rd, Winter Park Fl 32789 |
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| Atkins Commercial Realty, 501 N Orlando Ave Ste 313-309, Winter Park Fl 32789 |
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| Bailey Campbell Properties, 7707 Country Pl, Winter Park Fl 32792 |
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| Beach Solutions Realty, Po Box 2012, Winter Park Fl 32790 |
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| Bell & Associates Realty, 2431 Aloma Ave Ste 255, Winter Park Fl 32792 |
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| Belmont Realty, Po Box 1972, Winter Park Fl 32790 |
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| Benge Development, 1157 Tom Gurney Dr, Winter Park Fl 32789 |
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| Bindery, 611 N Wymore Rd Ste 100, Winter Park Fl 32789 |
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| Blurock Commercial Real Estate, 1150 S Orlando Ave Ste B, Winter Park Fl 32789 |
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| Bone Island Realty, 1415 Westchester Ave, Winter Park Fl 32789 |
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| Brightleaf Properties, 2031 Temple Dr, Winter Park Fl 32789 |
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| Brio Real Estate, 1095 W Morse Blvd Ste 201, Winter Park Fl 32789 |
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| Buckeye Realty, 2431 Aloma Ave Ste 112, Winter Park Fl 32792 |
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| Burkey & Associates Realty, 1071 W Morse Blvd Ste 200, Winter Park Fl 32789 |
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| Buyer Rebates Realty, 2281 Lee Rd Ste 202, Winter Park Fl 32789 |
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| Buyers Broker, 2281 Lee Rd Ste 202, Winter Park Fl 32789 |
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| C Anthony Group, 220 E Morse Blvd Apt 204, Winter Park Fl 32789 |
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| C Brenner, 3586 Aloma Ave Ste 5, Winter Park Fl 32792 |
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| C E B Management, 3586 Aloma Ave Ste 5, Winter Park Fl 32792 |
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| C&r Land Development, 2250 Lee Rd Ste 120, Winter Park Fl 32789 |
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| Cassidy Realty, 505 N Park Ave Ste 201, Winter Park Fl 32789 |
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| Cathy S Marino Realty, Po Box 2337, Winter Park Fl 32790 |
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| Century 21 Carthen Realty, 2471 Aloma Ave, Winter Park Fl 32792 |
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| Century 21 Morehouse Realty, 2281 Lee Rd Ste 200, Winter Park Fl 32789 |
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| Cfse Business Services, 1400 W Fairbanks Ave Ste 202, Winter Park Fl 32789 |
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| City Asset Management, 1071 W Morse Blvd Ste 101, Winter Park Fl 32789 |
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| City Commercial, 1071 W Morse Blvd Ste 101, Winter Park Fl 32789 |
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| Clear Vision Realty & Associates, 941 W Morse Blvd Ste 100, Winter Park Fl 32789 |
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| Clemens Commercial Real Estate, 452 Covey Cv, Winter Park Fl 32789 |
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| Coledev Real Estate, 135 N Knowles Ave, Winter Park Fl 32789 |
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| College Suites Property Management L C, Po Box 1508, Winter Park Fl 32790 |
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| Colonial Land Company, 2211 Lee Rd Ste 100, Winter Park Fl 32789 |
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| Colony Realty Group, 2105 N Park Ave, Winter Park Fl 32789 |
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| Commercial Equity Partners, 1971 Lee Rd Ste B, Winter Park Fl 32789 |
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| Commercial Realty Group, 2265 Lee Rd Ste 1117c, Winter Park Fl 32789 |
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| Compass Investment Properties, 861 W Morse Blvd Ste 250, Winter Park Fl 32789 |
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| Condev Real Estate, Po Box 1748, Winter Park Fl 32790 |
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| Condev Realty, Po Box 1748, Winter Park Fl 32790 |
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| Consortium Capital, 180 S Knowles Ave Ste 3, Winter Park Fl 32789 |
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| Core Community Realty, 1200 Tom Gurney Dr, Winter Park Fl 32789 |
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| Coughlin, 250 S Park Ave Ste 300, Winter Park Fl 32789 |
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| Courtney Properties, 1333 Alberta Dr, Winter Park Fl 32789 |
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| David Tanner Team, 941 W Morse Blvd Ste 100, Winter Park Fl 32789 |
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| Debbie Gloss Properties, 5415 Lake Howell Rd # 131, Winter Park Fl 32792 |
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| Demetree Real Estate Services, 1350 Orange Ave Ste 100, Winter Park Fl 32789 |
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| Devlin Investors & Assocs, 3328 Raiders Run, Winter Park Fl 32792 |
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| Duke Real Estate, 7201 Sandscove Ct Ste 5, Winter Park Fl 32792 |
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| Eastern General Realty Corp, 1211 Orange Ave Ste 102, Winter Park Fl 32789 |
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| El Tier 1 Realty, 1048 Lundy Ct, Winter Park Fl 32792 |
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| Enego Investments, 1600 Lasbury Ave, Winter Park Fl 32789 |
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| Enterprise Referral Realty, 954 S Orlando Ave, Winter Park Fl 32789 |
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| Epoch Management, 359 Carolina Ave, Winter Park Fl 32789 |
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| Epoch Realty, 359 Carolina Ave, Winter Park Fl 32789 |
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| Ews Advisors, 757 French Ave, Winter Park Fl 32789 |
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| Exclusive Realty And Consulting, 1802 Howell Branch Rd, Winter Park Fl 32789 |
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| Exit Realty Access, 515 N Park Ave Ste 217, Winter Park Fl 32789 |
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| Fannie Hillman & Associates, 205 W Fairbanks Ave, Winter Park Fl 32789 |
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| First Capital Realty Investments, 950 N Orlando Ave Ste 190, Winter Park Fl 3278 More ... |
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| First Team Commercial, 1089 W Morse Blvd Ste D, Winter Park Fl 32789 |
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| Fl Protective Investments, 1555 State Road 436 Ste 1021, Winter Park Fl 32792 |
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| Florida Business Investments, 1964 Howell Branch Rd Ste 207, Winter Park Fl 3279 More ... |
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| Florida Home Realty & Investments, 2021 W Fairbanks Ave, Winter Park Fl 32789 |
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| Florida Land Advisors Orlando, 280 W Canton Ave Ste 210, Winter Park Fl 32789 |
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| Florida Living Properties, 2273 Lee Rd Ste 201, Winter Park Fl 32789 |
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| Florida One Real Estate, 147 E Lyman Ave Ste A, Winter Park Fl 32789 |
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| Florida Property, 400 S Park Ave, Winter Park Fl 32789 |
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| Florida Property Solvers, 3044 Dikewood Ct, Winter Park Fl 32792 |
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| Florida Real Estate Brokers, Po Box 657, Winter Park Fl 32790 |
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| Florida Realty And Development, 2105 N Park Ave, Winter Park Fl 32789 |
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| Florida World Realty Incorporation, 147 E Lyman Ave Ste E, Winter Park Fl 32789 |
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| Fontenay Real Estate, 535 N Park Ave, Winter Park Fl 32789 |
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| Forness Properties, 2221 Lee Rd Ste 11, Winter Park Fl 32789 |
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| Franchise Clearly, 1177 Louisiana Ave Ste 205, Winter Park Fl 32789 |
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| Fun Homes, 271 S Orlando Ave, Winter Park Fl 32789 |
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| G R B Enterprises, 1177 Louisiana Ave Ste 201, Winter Park Fl 32789 |
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| Gagnon Enterprises, Po Box 5219, Winter Park Fl 32793 |
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| Gay Bryan, Po Box 4249, Winter Park Fl 32793 |
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| Gilco Central Florida, 1920 Woodcrest Dr Apt 13, Winter Park Fl 32792 |
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| Gillen & Associates, 915 Bonita Dr, Winter Park Fl 32789 |
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| Global Building And Consulting Corp, 8 Isle Of Sicily, Winter Park Fl 32789 |
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| Good Neighbor Realty, 1977 Dundee Dr, Winter Park Fl 32792 |
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| Goodwill Realty, 643 Dunblane Dr, Winter Park Fl 32792 |
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| Grail Management Group, 520 N Orlando Ave Ste 20, Winter Park Fl 32789 |
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| Greenbriar Realty & Management Co, 5454 Lake Howell Rd, Winter Park Fl 32792 |
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| Group One, 2555 Temple Trl, Winter Park Fl 32789 |
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| Hara Management, 931 S Semoran Blvd Ste 214, Winter Park Fl 32792 |
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| Henderson Investment Corp, Po Box 150, Winter Park Fl 32790 |
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| Henin Realty, Po Box 940, Winter Park Fl 32790 |
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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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