Real Estate Assignment 1

In: Other Topics

Submitted By megneill
Words 1682
Pages 7
Household Scenario

The scenario is a young, newly married couple with no children, looking for their first house in the Greater Toronto Area’s market. This couple has a relatively high combined gross income of $130,197 a year. Therefore, they are able to provide a 30% downpayment of $39,056. This couple is looking for a long-term investment that is suitable for young professionals, but is also located in a good neighborhood if they were expecting to have children in the future. House Selection

Location Although this condominium is not very close to work, the married couple may be willing to give up this benefit for the benefit of owning a long-term home that fits their needs. With this condo, the couple would not need to own a car. This condominium received a relatively high walk score of 65 (Walk Score, 2013). This means that there are some amenities that are walkable by foot. After researching closer, the screenshot below shows that there is TCC, a GO station, a grocery store, a park, a Church, and even a Walmart in walking distance. Since there is a gym and pool inside the condo building, almost all amenities are within walking distance. Below is a custom made list of top ten amenities that a young married couple would look for. It is also beneficial that there is a day care and parks close by incase there were to be a baby on the way in the future.

Points of Interest Close to the Condo

Another analysis was considering the bike score. This apartment also has a relatively high bike score of 68. After analyzing close by amenities, I was able to compute a perimeter that could be biked to within 15 minutes (Walk Score, 2013). All of these points are able to be reached by bike within 15 minutes, if they are too far to walk to. Therefore, the couple could own bikes instead of car, and consider buying a car in their budget once they had children.…...

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