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EGR 403 – Project Proposal

Buying A Condo. EGR 403 – Project Proposal. vs. Buying A House. Team 12 Organizer: Phat Bao Organizer: Lala Garabidian Techie: Samuel Mangampo Summarizer: Mark Mckinney. Demographics. Mr. K CalPoly alumni Graduated in 1999 Electrical Engineer 32 years old

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EGR 403 – Project Proposal

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

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

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

  4. 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) 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 More Detailed informationOn the Condo

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

  6. 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 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) More detailed informationOn the House

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

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

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