It would be almost impossible to buy a house if you had to pay for it all at once. That's why most people have some kind of debt. The trick is to take advantage of debt instead of letting it take advantage of you.
When you borrow
money to buy a house, the obvious
benefit is having a roof over
your head. But also, you use the
bank's money to purchase this
real estate investment. When you
sell, you reap the entire increase
in the value of the house. In
between, you can borrow
against the equity in your home,
for example, to pay for home improvements.
Even credit
card debt has its benefits.
Besides convenience, they can
improve your credit score if you
use them wisely (paying the balance
each month on time and not charging
your cards to the hilt).
