FACT #5 Renting does not protect you against rising occupancy prices.

Rental units are just as susceptible as houses to rising taxes and insurance, utility and maintenance costs — and the landlord will pass the costs on to the tenant.

FACT #6 Homeownership enhances your overall financial credibility.

As a homeowner, you prove yourself in a number of ways: you’re viewed as  prudent, credit-worthy and selfsufficient when you take on the responsibility of ownership.

Facts about buying

FACT #7 You probably can get a home protection plan when you buy a house, whether it’s old or new.

When you buy a new house, the builder should give you a protection plan to guard against faulty materials or quality of work. With older homes, buyers in most states can now obtain such a plan to protect them against major repair expenses and breakdowns.

Note: Ask your local GMAC Real Estate sales representative if the GMAC Real Estate Home Protection Plan is available in your area.

FACT #8 You can typically arrange better terms if you check out financing before you look for a home.

Shop around for financing before you look at houses. Mortgage lenders should be able to give you an idea of how much money they

FACT #9 Quality of construction is important when you buy even if you don’t expect to be in the home very long.

You can't afford to overlook quality of construction in a home purchase. Poorly built homes can require costly repairs and maintenance and can waste energy, too. Look for a house that works efficiently with a minimum of cost and aggravation on your part.’ll lend you based on your income and credit rating. Knowing what you can afford helps you bargain more confidently with sellers. Your GMAC Real Estate sales professional should be able to suggest mortgage lenders in your area.

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