If I have money, is it still necessary to avail of a bank loan for buying a home in Dallas TX?

It is generally advantageous to go for a home loan as it helps you in availing tax benefits.

This depends on many factors. How long do you plan to stay in the home? If 20+ years, then you may think about buying houses for cash in Dallas, TX, as the interest alone will often times double the purchase price over time. If you're planning to stay only for say 5-10 years or less, then paying cash for houses in Dallas, TX might not be a good option; a loan would be a better option and you can put that cash to better use elsewhere (say some kind of other investment). It is not necessary, but it has its advantages, like Jaciee was referring to. If you're planning to purchase the home as a rental, then we would most definitely recommend using loan to do so. You can pay cash, then refinance the property into long term financing. We pay cash for houses in Dallas, TX all the time. Hope this helps!