If you own a house, you know that being a homeowner has both pros and cons. Pro: The people screaming upstairs are probably your children and you can tell them to settle down. Pro: You earn equity against your house as you pay down your mortgage which means you can take out a home equity line of credit for various expenses that may arise in your life. Con: Things break, and when you're the landlord and owner, you have to fix them. Con: Mowing your lawn is not always pleasant. Con: Your house is potentially a money pit.
"Wait...what's a money pit?"