What are the advantages and disadvantages of mortgage?

Answer 1

Advantages: You get to acquire a property without saving the purchase price. You get an income tax deduction in the US. You build credit history. You get to hold what is historically an appreciating asset without fully paying for it.

Disadvantages: You pay intesest charges, discount points , taxes and other fees. The tax deduction is only about 25% costs above. Without faithful payment you can be evicted. The mortgage holder controls various facets about the house and can prohibit you from selling small parcels or doing modifications to the structure and the like.