Before considering a home loan, you must do your research. Understand both the advantages and the disadvantages. Purchasing a home is a major financial decision. A good question to ask yourself is why are you looking to purchase a home now? Understand that the benefits of home ownership include costs and responsibilities. Before even considering a home loan, know the pros and cons of purchasing your dream house. A lot of people see debt as a bad thing. Others see it as a tool to improve their life and wealth. The reality is, all of us need somewhere to live, however, purchasing a house with cash is almost impossible for many people. Here you will find the advantages as well as the disadvantages when considering a home loan.