There is an important benefit to home ownership that is often overlooked. Over the course of  a 25 or 30 year mortgage, the total amount of money paid by many renters can actually exceed the amount paid by a home owner. This is  because rents generally increase over the long term.

Add to this the fact that after a mortgage is paid off, homeowners will no longer make mortgage payments while renters will continue to bear the burden for the rest of their lives. Money spent on rent is money down the drain and the difference can greatly impact your quality of life upon retirement.

Owning a home is the best way to assure the happiness and well-being of you and your family. A home gives a family room to grow, and room to prosper.

The best childhood memories many of us hold include weekend dinners in the family dining room, retreating to the rec room when friends visit, or playing outdoors in every season.

If you've made the decision to buy, the first person you should talk to is a Buyer Agent Realtor. These professional buying experts will help you with virtually every aspect of your home ownership needs. From putting together a 'buying blueprint' that details your specific housing requirements, to giving advice on what you can afford, and co-ordinating the whole process a Buyer Agent can cut through the complexities.

Constructing a 'buying blueprint' is a critical step for first time buyers. In it, you will list items such as: how many bedrooms do you really need; is a finished basement a necessity or can you afford to wait; how big a yard do you need; and most importantly, where do you want to live? All these considerations will affect your ability to buy.

For example, many first-time buyers may forego a property close to the downtown core in favour of a suburban or even a rural home. This can lead to savings which can be used to either lower the mortgage and monthly payments, or to acquire a bigger home for the same cost.

Opting for a townhome or condo are other alternatives that can help first-time buyers escape the 'rent trap' and channel their funds into a solid investment.

When you've narrowed your requirements, a Buyer Agent will scout properties for you and make recommendations on homes that suit your needs. Once you begin viewing, your Realtor will make appointments and accompany you, offering advice on matters such as the amenities of the neighbourhood, repairs or upgrades that could be necessary, inspections, carrying costs, first-time buyer's Tax Credit and so forth.

So, if you're one of the thousands of Ontario families caught in the cycle of paying rent and seeing nothing in return, now is the time to make a move. Buying a home can pay off in so many ways--you simply can't afford to pass up the opportunity.