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.
| A & M Realty Services, Po Box 244331, Boynton Beach Fl 33424 |
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| Abassy Realty, 1420 Magliano Dr, Boynton Beach Fl 33436 |
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| Adam Realty, 1070 Grove Park Cir, Boynton Beach Fl 33436 |
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| Adams Realty, 6833 Ashton St, Boynton Beach Fl 33437 |
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| Adelson Realty, 10465 Gold Leaf Dr, Boynton Beach Fl 33437 |
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| All Platinum Properties, 6187 Bay Isles Dr, Boynton Beach Fl 33437 |
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| Allegiance Realty Services, 930 N Congress Ave Ste 220, Boynton Beach Fl 33426 |
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| Anaheim Properties, 1155 Sw 25th Ave, Boynton Beach Fl 33426 |
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| Anderson House Auctioneers, 3932 Palladium Shore Dr, Boynton Beach Fl 33436 |
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| Angler Real Estate, Po Box 672, Boynton Beach Fl 33425 |
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| Apex Residential And Commercial Properties, Po Box 243271, Boynton Beach Fl 3342 More ... |
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| Apogee Team Realty, 3600 S Congress Ave Ste N, Boynton Beach Fl 33426 |
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| Arena And Company, 209 N Heron Dr Apt Q, Boynton Beach Fl 33435 |
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| Ascot Real Estate, 20 Country Lake Cir, Boynton Beach Fl 33436 |
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| Atlantic Grove Realty, 3587 S Federal Hwy Apt G, Boynton Beach Fl 33435 |
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| Atlantico Real Estate, 10727 Canyon Bay Ln, Boynton Beach Fl 33473 |
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| Atlas Holding Corporation, 2500 Quantum Lakes Dr Ste 203, Boynton Beach Fl 33426 |
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| Bailey Realty Group, 3827 Barkis Ave, Boynton Beach Fl 33436 |
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| Bcv Management, 4597 Saint Andrews Dr, Boynton Beach Fl 33436 |
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| Bdm Realty, 1430 Magliano Dr # R, Boynton Beach Fl 33436 |
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| Berkowitz Acquisitions, 6615 Boynton Beach Blvd # 350, Boynton Beach Fl 33437 |
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| Birgitta Kaanto Realty, 7070 Ivy Crossing Ln, Boynton Beach Fl 33436 |
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| Boynton Beach Realty, 319 E Woolbright Rd, Boynton Beach Fl 33435 |
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| Boynton Waters Realty, 6849 Cobia Cir, Boynton Beach Fl 33437 |
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| Bpo Realty, 1500 Gateway Blvd Ste 220, Boynton Beach Fl 33426 |
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| Bray Realty Advisors, 7450 Liverpool Ct, Boynton Beach Fl 33472 |
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| Brett Realty, Po Box 740222, Boynton Beach Fl 33474 |
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| Builder Advantage Realty, 4010 Thor Dr, Boynton Beach Fl 33426 |
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| Buyer Destination Realty, 200 Knuth Rd Ste 101, Boynton Beach Fl 33436 |
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| Camelot Realty Services, 1104 Rialto Dr, Boynton Beach Fl 33436 |
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| Capital Income Properties, 4 Country Rd W, Boynton Beach Fl 33436 |
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| Capital Realty Group, Po Box 740405, Boynton Beach Fl 33474 |
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| Carolekay Realty, 639 E Ocean Ave Ste 301, Boynton Beach Fl 33435 |
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| Catalo Appraisal & Realty, 3890 Newport Ave, Boynton Beach Fl 33436 |
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| Catalyst Real Estate Services, 869 Nw 8th Ave, Boynton Beach Fl 33426 |
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| Century 21 Tenace Realty, 3960 Hypoluxo Rd, Boynton Beach Fl 33436 |
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| Choice Realty Of South Florida, 1781 N Congress Ave, Boynton Beach Fl 33426 |
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| Chris Lowry Realty Services, 10405 Saint Andrews Rd, Boynton Beach Fl 33436 |
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| Citadelle Real Estate & Investments, 402 Nw 24th Ave, Boynton Beach Fl 33426 |
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| Citadelle Real Estate & Investments, 402 Nw 24 Venue, Boynton Beach Fl 33426 |
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| Coast To Coast Realty Advisors, 8300 Muirhead Cir, Boynton Beach Fl 33472 |
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| Cool Breeze Realty, 7309 Falls Rd E, Boynton Beach Fl 33437 |
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| David Wunder Pa, 350 N Federal Hwy Unit 1202, Boynton Beach Fl 33435 |
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| Delray Beach Real Estate Co, 910 Sw 27th Ave, Boynton Beach Fl 33435 |
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| Delray Beach Ss Realty, 740 E Ocean Ave Apt 101, Boynton Beach Fl 33435 |
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| Domino Business Advisors, 4585 Gleneagles Dr, Boynton Beach Fl 33436 |
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| Donmar Global Business Services, 8254 Boulder Mountain Ter, Boynton Beach Fl 334 More ... |
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| Dubois Real Estate, 2433 Quantum Blvd, Boynton Beach Fl 33426 |
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| East Coast Realty Solutions, 1500 Gateway Blvd Ste 220, Boynton Beach Fl 33426 |
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| Egi Real Estate, 5000 N Ocean Blvd Ste O-205, Boynton Beach Fl 33435 |
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| Empery Realty, 130 Se 24th Ave, Boynton Beach Fl 33435 |
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| Ethanmour Realty, 1500 Gateway Blvd Ste 220, Boynton Beach Fl 33426 |
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| Everglades Real Estate Group, 801 Commerce Road, Boynton Beach Fl 33426 |
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| Executive Advantage, 9534 Equus Cir, Boynton Beach Fl 33472 |
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| First Impressions Realty, 5681 Caruso Ct Apt 102, Boynton Beach Fl 33437 |
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| Florida Home Consulting, 8194 Emerald Winds Cir, Boynton Beach Fl 33473 |
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| Florida Unique Homes Realty, 450 N Federal Hwy Ste 710n, Boynton Beach Fl 33435 |
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| Floridareferralnet.com, 930 N Congress Ave Ste 220, Boynton Beach Fl 33426 |
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| Flynn Reo Group, 1375 Gateway Blvd, Boynton Beach Fl 33426 |
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| Gallo Insurance Services, 2455 Quantum Blvd, Boynton Beach Fl 33426 |
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| Genesis Commercial Real Estate Group, 12118 Colony Preserve Dr, Boynton Beach Fl More ... |
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| Gfolio Real Estate, 11555 Rock Lake Ter, Boynton Beach Fl 33473 |
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| Gl Realty, 8169 Pinnacle Pass Way, Boynton Beach Fl 33473 |
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| Global Real Estate Collaborative, 3200 S Congress Ave Ste 104, Boynton Beach Fl More ... |
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| Grant Realty Corp, 7886 Stanza St, Boynton Beach Fl 33437 |
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| Gringle Doherty & Wheat, 12195 S Dunes Rd, Boynton Beach Fl 33436 |
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| Group Realty, 1375 Gateway Blvd, Boynton Beach Fl 33426 |
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| Gulfstream Commercial Realty, 9804 S Military Trl, Boynton Beach Fl 33436 |
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| Hampton Real Estate Group, 5108 N Ocean Blvd, Boynton Beach Fl 33435 |
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| Handy Realty, 2500 Quantum Lakes Dr Ste 203, Boynton Beach Fl 33426 |
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| Holthouse Property Management, Po Box 999, Boynton Beach Fl 33425 |
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| Home Choices, 19 Buxton Ln, Boynton Beach Fl 33426 |
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| Home Equity Realty, 11052 Sunset Ridge Cir, Boynton Beach Fl 33473 |
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| Home Free Realty, 7995 Saw Palmetto Ln, Boynton Beach Fl 33436 |
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| Home Solutions Team, 1851 Via Granada, Boynton Beach Fl 33426 |
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| Home Source, 2417 Quantum Blvd, Boynton Beach Fl 33426 |
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| Home Suite Homes, 2500 Quantum Lakes Dr Ste 203, Boynton Beach Fl 33426 |
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| Homepointe Realty, 1231 Via Fatini, Boynton Beach Fl 33426 |
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| Homerep, 7930 Parsons Pine Dr, Boynton Beach Fl 33437 |
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| Hudson Realty Of The Palm Beaches, 300 S Federal Hwy, Boynton Beach Fl 33435 |
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| Ideal Florida Realty, 3710 Barkis Ave, Boynton Beach Fl 33436 |
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| Ideal Florida Vacation Rentals, 3710 Barkis Ave, Boynton Beach Fl 33436 |
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| In Touch Professional Real Estate And Investments, 115 Ne 4th Ave, Boynton Beach More ... |
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| Innovo Property Group, 5532 Descartes Cir, Boynton Beach Fl 33472 |
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| Inspiration Realty Of Florida, 8169 Pinnacle Pass Way, Boynton Beach Fl 33473 |
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| Internet International Realty Corporation, 9815 Lemonwood Dr, Boynton Beach Fl 3 More ... |
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| Jamaica Bay Realty, 31005 Jamaica Bay Dr, Boynton Beach Fl 33436 |
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| James Michael Colby Properties, 1861 Finn Hill Dr, Boynton Beach Fl 33426 |
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| Jcs Realty Corp, 802 N Federal Hwy, Boynton Beach Fl 33435 |
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| Jennings Real Estate Investments And Services, 12937 Cocoa Pine Dr, Boynton Beac More ... |
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| K Hovnanian Florida Realty, 3601 Quantum Blvd, Boynton Beach Fl 33426 |
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| Keller Williams Realty Of Boynton Beach, 8188 S Jog Rd, Boynton Beach Fl 33472 |
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| Ken Bromberg Realty, 2240 W Woolbright Rd Ste 411, Boynton Beach Fl 33426 |
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| Kogan Estate Homes, 12358 Pleasant Green Way, Boynton Beach Fl 33437 |
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| Kottler Capital Group, 5701 Swaying Palm Ln, Boynton Beach Fl 33437 |
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| La Vance, 2080 Sw 14th Ave, Boynton Beach Fl 33426 |
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| Lamar Realty Corporation, Po Box 4216, Boynton Beach Fl 33424 |
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| Lauria Realty Group, 11036 Sunset Ridge Cir, Boynton Beach Fl 33473 |
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| Law Real Estate Corp, 625 S Federal Hwy, Boynton Beach Fl 33435 |
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| Law Realty, 625 S Federal Hwy, Boynton Beach Fl 33435 |
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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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