Let's be honest.  Owning a home is not for everyone. At different times in your life renting might make the most sense. However, if you are ready to invest in a place the most important thing you can do is your homework.  Buying right and using programs that are available to you based on your circumstances can make buying not only work for you but be that good investment that we all want.

1. Quality of life – a home provides stability and security for you and your loved ones.

2. Pride of home ownership – it’s your personal haven.

3. Historically low interest rates – around 5 percent in the United States.

4. Appreciation potential – your home investment can grow in value.

5. Equity buildup and debt pay down – homeowners enjoy an average net worth of approximately $184,000 versus $4,000 for renters.

6. Leverage – where else can you buy an investment of this magnitude with 5–10-20 percent down?

7. Tax deduction advantages – property tax and mortgage interest write-offs (in Canada, homeowners gain a tax benefit upon selling).

8. Tax exemption – up to $500,000 per couple or $250,000 per person upon the sale of a primary residence in the United States (no tax upon sale in Canada).

9. The real cost of renting – at $800 per month, with the average 6 percent rental increase per year, you will pay $126,536 over a 10-year period but have zero ownership of the property.