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

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

Scenario #1 Purchasing a Condo Description   Address: 3721 COUNTRY CLUB DR Unit: 15 Long Beach, CA   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

More Detailed information On the Condo   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

Scenario #2 Purchasing a House Description   Address: 447 E ADAIR ST Long Beach, CA   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

More detailed information On the House   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)

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

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