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 America Real Estate, 5591 Nw 3rd Ter, Boca Raton Fl 33487 |
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| 1st Southern Realty Corporation, 264 Nw 46th St, Boca Raton Fl 33431 |
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| 441 Realty, 20283 State Road 7 Ste 300, Boca Raton Fl 33498 |
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| 444 Real Estates, 17276 Boca Club Blvd, Boca Raton Fl 33487 |
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| 5imiami Comercial Realty, 2255 Glades Rd Ste 218, Boca Raton Fl 33431 |
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| 5imiami Realty, 2255 Glades Rd Ste 218a, Boca Raton Fl 33431 |
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| 7 Stars Realty, 2851 S Ocean Blvd Apt 6d, Boca Raton Fl 33432 |
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| A & B Realty, 12438 Antille Dr, Boca Raton Fl 33428 |
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| A & N Realty, 902 Clint Moore Rd Ste 110, Boca Raton Fl 33487 |
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| Aaron S Adler Pa, 19024 Skyridge Cir, Boca Raton Fl 33498 |
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| Abastone Group Realty, 8430 Nadmar Ave, Boca Raton Fl 33434 |
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| Achieving Bliss Now, 20981 Verano Way, Boca Raton Fl 33433 |
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| Addison Reserve Realty, 901 Clint Moore Rd Ste C, Boca Raton Fl 33487 |
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| Adobe Properties, 798 Sw 18th St, Boca Raton Fl 33486 |
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| Advantage Referrals, 601 S Federal Hwy Ste 100, Boca Raton Fl 33432 |
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| Affiliate Services, 6080 Glendale Dr, Boca Raton Fl 33433 |
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| Agape Realty Group, 425 Ne 12th St, Boca Raton Fl 33432 |
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| Agency Luxe, 21301 Powerline Rd Ste 100, Boca Raton Fl 33433 |
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| Ags, 6767 Portside Dr, Boca Raton Fl 33496 |
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| Ahdc Realty, 19682 Black Olive Ln, Boca Raton Fl 33498 |
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| Ajr Realty, 20957 Boca Ridge Dr W, Boca Raton Fl 33428 |
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| All Prime Realty, 350 S Ocean Blvd Ste 7d, Boca Raton Fl 33432 |
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| Allstate Commercial Realty, 22261 Kettle Creek Way, Boca Raton Fl 33428 |
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| Alternative Networking, 750 Pk Commrce Blvd Ste 300, Boca Raton Fl 33487 |
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| Altman Management Company, 1515 S Federal Hwy Ste 300, Boca Raton Fl 33432 |
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| America Realty & Property Management, 210 Nw 9th St, Boca Raton Fl 33432 |
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| America's Prime Properties, 23385 Barwood Ln S Unit 1203, Boca Raton Fl 33428 |
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| America's Select Realty, 10315 Camelback Ln, Boca Raton Fl 33498 |
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| American 100 Realty Corp, 22944 Greenview Ter, Boca Raton Fl 33433 |
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| American Property Exchange, 20283 State Road 7, Boca Raton Fl 33498 |
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| American Site Selectors, 3700 Airport Rd Ste 302, Boca Raton Fl 33431 |
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| American Worldwide Associates, 701 Ne Harbour Ter Apt 215, Boca Raton Fl 33431 |
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| Amerivest Group, 4800 N Federal Hwy Ste 100d, Boca Raton Fl 33431 |
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| Amg Family Realty, 19605 State Road 7 Ste F, Boca Raton Fl 33498 |
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| Amoskeag Property Management, 1000 Holland Dr Ste 2, Boca Raton Fl 33487 |
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| Anchor Business & Financial Services, 5814 Nw 24th Ter, Boca Raton Fl 33496 |
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| Anchor Properties, 5630 Boca Chica Ln, Boca Raton Fl 33433 |
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| Angelic Real Estate, 5156 Majorca Club Dr, Boca Raton Fl 33486 |
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| Anthozka Capital Ventures, 7777 Glades Rd Ste 100, Boca Raton Fl 33434 |
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| Apartment Realty Advisors, 750 Pk Commrce Blvd Ste 230, Boca Raton Fl 33487 |
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| Api Realty, 5921 Vista Linda Ln, Boca Raton Fl 33433 |
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| Apt Specialist & Homes, 12689 Maypan Dr, Boca Raton Fl 33428 |
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| Ara Florida, 750 Pk Commrce Blvd Ste 230, Boca Raton Fl 33487 |
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| Ask4 Realty And Management, 1908 Nw 4th Ave Ste 112, Boca Raton Fl 33432 |
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| Aspect Realty, 7120 Via Marbella, Boca Raton Fl 33433 |
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| Associates Of Boca Raton, 601 S Federal Hwy Ste 100, Boca Raton Fl 33432 |
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| Atlantic Realty Group, 150 E Palmetto Park Rd, Boca Raton Fl 33432 |
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| Aucamp Realty, 1225 Sw 19th St, Boca Raton Fl 33486 |
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| Avise Realty, 150 E Palmetto Park Rd Ste 800, Boca Raton Fl 33432 |
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| Avistar Realty & Business Services, 6000 Nw 2nd Ave Ste 234, Boca Raton Fl 33487 |
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| Axis Realty Group, 492 E Boca Raton Rd, Boca Raton Fl 33432 |
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| B F O Enterprise, Po Box 880062, Boca Raton Fl 33488 |
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| Balistreri Realty, 1 N Federal Hwy Fl 3, Boca Raton Fl 33432 |
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| Bankers Advocate Group, 33 E Camino Real Ste 209, Boca Raton Fl 33432 |
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| Bankers Realty Corp, 3700 Airport Rd Ste 307, Boca Raton Fl 33431 |
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| Barbar & Associates, 1877 S Federal Hwy Ste 108, Boca Raton Fl 33432 |
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| Barbar Real Estate Co, 2424 N Federal Hwy Ste 150, Boca Raton Fl 33431 |
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| Barbara Martineau Rosenthal, 11154 Sea Grass Cir, Boca Raton Fl 33498 |
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| Barclay Commercial Realty, 1001 Nw 51st St Ste 307, Boca Raton Fl 33431 |
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| Barham & Company, 4722 Nw Boca Blvd Ste C106, Boca Raton Fl 33431 |
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| Beachside Properties, 902 E Boca Raton Rd, Boca Raton Fl 33432 |
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| Bedell Holdings &realty,inc., 984 Sw Pepperridge Ter, Boca Raton Fl 33486 |
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| Bella Casa Real Estate, 10945 Bal Harbor Dr, Boca Raton Fl 33498 |
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| Bergo, 356 S Maya Palm Dr, Boca Raton Fl 33432 |
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| Bernstein Realty, 8051 Congress Ave, Boca Raton Fl 33487 |
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| Betsy Lichtman Realty, 10718 Kirkaldy Ln, Boca Raton Fl 33498 |
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| Big Dog Realty Pros, 2403 Nw 32nd St, Boca Raton Fl 33431 |
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| Black Diamond Investment Group, 6884 Queenferry Cir, Boca Raton Fl 33496 |
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| Blue Chip Properties, 9770 Richmond Cir, Boca Raton Fl 33434 |
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| Blue Lake Realty, 301 Ne 51st St Ste 3151, Boca Raton Fl 33431 |
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| Blue Lighthouse Realty, 1198 Sw 13th Ave, Boca Raton Fl 33486 |
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| Blue Luxury Properties, 5800 Nw 24th Ave Apt 301, Boca Raton Fl 33496 |
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| Blue Moon Properties, 2385 Nw Executive Drive Suite 100, Boca Raton Fl 33431 |
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| Bluegreen Resorts, 4960 Conference Way N Ste 100, Boca Raton Fl 33431 |
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| Bluegreen Resorts Management, 4960 Conference Way N Ste 100, Boca Raton Fl 33431 |
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| Bluegreen Vacations Unlimited, 4960 Conference Way N Ste 100, Boca Raton Fl 3343 More ... |
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| Blye Realty, 9290 Vista Del Lago Apt 11b, Boca Raton Fl 33428 |
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| Boca Bows & Fairways Realty, 19989 Boca West Dr, Boca Raton Fl 33434 |
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| Boca Broker, 20100 Boca West Dr Apt 111, Boca Raton Fl 33434 |
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| Boca East Realty, 1400 S Ocean Blvd Ste N-203, Boca Raton Fl 33432 |
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| Boca Executive Realty, 4800 N Federal Hwy Ste A105, Boca Raton Fl 33431 |
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| Boca Expert Realty, 150 E Palmetto Park Rd Ste 800, Boca Raton Fl 33432 |
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| Boca Home Realty, 6395 Toulon Dr, Boca Raton Fl 33433 |
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| Boca Home Rentals And Sales, 2298 Nw 2nd Ave Ste 17, Boca Raton Fl 33431 |
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| Boca Lago Realty, 9039 Vista Del Lago, Boca Raton Fl 33428 |
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| Boca Luxury Realty, 2413 Nw 49th Ln, Boca Raton Fl 33431 |
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| Boca One Realty, 2255 Glades Rd Ste 218a, Boca Raton Fl 33431 |
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| Boca Palm Realty, 6971 N Federal Hwy Ste 103, Boca Raton Fl 33487 |
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| Boca Properties, 1701 Sabal Palm Dr, Boca Raton Fl 33432 |
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| Boca Raton Realty, 7243 Encina Ln, Boca Raton Fl 33433 |
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| Boca Real Estators, 2061 Nw 2nd Ave Ste 108, Boca Raton Fl 33431 |
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| Boca Realty Services, Po Box 1264, Boca Raton Fl 33429 |
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| Boca Valley Realty, 6363 N Federal Hwy, Boca Raton Fl 33487 |
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| Bomar Realty, 48 E Royal Palm Rd, Boca Raton Fl 33432 |
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| Bpi Inc-real Estate, 7409 Bondsberry Ct, Boca Raton Fl 33434 |
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| Branham Realty, 23123 State Road 7 Ste 300b, Boca Raton Fl 33428 |
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| Brasil Miami Usa Realty, 126656 Little Palm Ln, Boca Raton Fl 33428 |
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| Brinwo Development Corp, 7301 W Plmtt Prk Rd Ste 102c, Boca Raton Fl 33433 |
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| Brooke & Brett Realty Development Corp, 21624 Marigot Dr, Boca Raton Fl 33428 |
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| Brookside Realty Corp, 5801 Congress Ave, Boca Raton Fl 33487 |
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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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