I still remembered my college professor who is from Bangladesh said he will not buy a house until he has enough cash. I am sure a lot of people from Asia countries have the same mantality, I applaud that, but like any financial decision, there are pros and cons of paying cash for a house. Pros: 1. You do not need a credit history. 2. You can probably negotiate a better deal. 3. You actually own the house. It's a big benefit psychologically.