Homeownership involves paying more than a mortgage. Your costs are going to include utilities, taxes and insurance on your house. You'll have regular and unexpected maintenance costs. Over time, you'll have to replace the roof, hot water heater, etc. It goes with the territory of owning a house.

I understand that some people hate debt. But to pay cash for a house at this point in your life doesn't make any sense at all. Interest rates are at historical lows. Putting all of your savings into an asset that isn't appreciating or may even be depreciating isn't financially smart.

I'm assuming that you're a relatively young person. If so, the best thing you could do is put a significant portion of those savings into a tax-free retirement account. Your generation isn't going to have guaranteed pensions and Social Security may not exist as a guaranteed income stream as it does today. You'll also likely live longer than current retirees. That means that you'll need more money for your future retirement. The best and easiest way to do that is to be putting money away for retirement when you're young. Those funds will compound over time and even if you save less for retirement later, you'll still be ahead of people who waited.

Personally, if I was young and without a family, I would be renting. There's plenty of rental homes that would give you a chance to experience owning a home without tying up all of your financial assets into a house. Keep your savings invested for the long-term and and you'll have enough money for a home when you really understand what you are getting into with buying a house.