Eli5<- what are the pros/cons of borrowing money from the bank vs paying cash when buying a house?

Question

And why would it ever be a good idea to borrow if you can pay cash and pay no interest to the bank?

In: 18

Answer 1

My dad retired young and invested in real estate. He always told me you never want to pay off ur house loan, it’s the cheapest money u will ever get.

Essentially the house is increasing in value and at the same time inflation is depreciating the dollar.