EGR 403 Project Proposal Buying A Condo

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EGR 403 – Project Proposal Buying A Condo vs. Buying A House Team 12 Organizer: Phat Bao Organizer: Lala Garabidian Techie: Samuel Mangampo Summarizer: Mark Mckinney

Demographics Ø Mr. K Ø Cal. Poly alumni Ø Graduated in 1999 Ø Electrical Engineer Ø 32 years old Ø $54 k/year salary Ø $27 k in savings account Ø Engaged ØPlans to get married next year Ø Plans to retire at 65 years old

Scenario #1 Purchasing a Condo Description Ø Address: 3721 COUNTRY CLUB DR Unit: 15 Long Beach, CA 90807 Ø Price: $340, 000 Ø 1, 120 Sq. Ft Ø Association fees are $150 mo. Ø Estimated payment: $1, 579 Per Month Ø Area: Long Beach; Bixby Knolls Ø County: Los Angeles Ø Condo style Ø Single level

More Detailed information On the Condo Ø Ø Ø Dining area Dressing area Formal entry Approximately 1120 sq. ft. Inside laundry area Wall/built-in oven Gas range and oven Walk-in closet(s) Parking space(s): 2 2. 00 total bath(s) Year built: 1974 3 total bedroom(s) Ø Ø Ø Composition roof Heated pool In-ground swimming pool Community clubhouse(s) Picnic/barbeque area(s) Community sauna/steam room(s) Community spa/hot tub(s) Community swimming pool(s) Detached garage Patio Master bedroom 2 car garage

Scenario #2 Purchasing a House Description Ø Address: 447 E ADAIR ST Long Beach, CA 90805 Price: $340, 000 Ø Living space: 1, 102 Sq. Ft Ø Estimated payment: $1, 579 Per Month Ø Single Family Property Ø Area: Long Beach; North Long Beach Ø County: Los Angeles Ø Single family style Ø

More detailed information On the House Ø Ø Ø Ø Ø Forced air heat Laundry area in kitchen 2 car garage Detached garage Concrete block Tile roof Yard(s) on property Lot is 2925 sq. ft. High School District: LONG BEACH UNIFIED SCHOOL DISTRICT Ø Ø Ø Ø Ø Formal dining room Living room Approximately 1102 sq. ft Dining area · Attached home Single level Year built: 1977 3 total bedroom(s) 2. 00 total bath(s)

Question? What is a better option for Mr. K buying a house or a condo?

Resources planning to use n n n Internet Book: Newnan, D. G, Essentials of Engineering Economic Analysis Dr. Rosenkrantz

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