Step 1 Yes it’s a dream but is it time? Name: Mr. Nathan Leibowitz of Assante Capital Management in Montreal Occupation: Investment advisor since 2004 Mr. Leibowitz is a big believer in the (North) American dream: owning your own home. When you buy a house two things happen he says. First over time the house generally rises in value. Second you are creating equity in your home by paying down your mortgage.   “I know a rebbi ”Mr.Leibowitz says “who bought a house 20 years ago and paid his mortgage every month. When it came time to marry off his children he was able to access significant sums of money to pay for the weddings through a home equity loan ” a loan that allows an owner to borrow money against the value of his property. One of the biggest decisions to make is whether to continue renting or to buy. When making that decision Mr.Leibowitz says it is important to look at the price differential. That means the difference between the rent and the potential mortgage payment — plus property taxes maintenance fees insurance and other extras of home ownership. If the difference is minimal then it might be prudent to buy a home. When interest rates are low as they are now that translates into lower mortgage rates. That in turn means that buyers might be able to afford homes that were formerly out of reach. But don’t get stuck in the “shoulda woulda coulda” mode Mr.Leibowitz cautions. Yes it may be true that you could have bought the same house in 2008 for significantly less money and it’s hard to fork over that extra $100 000 but what are the options? With that thinking he says you’ll never buy a home.