Meaning of the word "fools build houses and wise men live in them" in English

What does "fools build houses and wise men live in them" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

fools build houses and wise men live in them

US /fuːlz bɪld ˈhaʊ.zɪz ænd waɪz mɛn lɪv ɪn ðɛm/
UK /fuːlz bɪld ˈhaʊ.zɪz ənd waɪz mɛn lɪv ɪn ðəm/
"fools build houses and wise men live in them" picture

Idiom

It is easier to buy a house that is already built than to go through the trouble and expense of building one yourself; also implies that the person who pays for construction often loses money while the subsequent owner benefits.

Example:
I decided to buy an existing home rather than building a new one, because as they say, fools build houses and wise men live in them.
He lost a fortune on contractors and permits; he should have remembered that fools build houses and wise men live in them.