You still need to pay property taxes though which are based on your properties value. The real benefit in my opinion is that it locks you into a permanent shel

You still need to pay property taxes though which are based on your properties value. The real benefit in my opinion is that it locks you into a permanent shelter price so that you can live someplace long term without getting priced out and if the value of your home skyrockets causing your variable price property taxes to skyrocket (california not included due to prop 13), you can sell it and make a bunch of money and then move somewhere cheaper.