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SCENARIO Scenario Summary After a number of years of planning, you have made the decision to evaluate the potential purchase of a home. The goal of the assignment is to compare two homes based on demographics, and also to analyze a number of additional factors related to the homebuying process and ongoing possession.
You will first need to research the housing market and compare the values of two similar homes in two different areas. The two homes must be extremely similar in structure size, land size, year built, and additions such as swimming pools or barns. Then, based upon your findings, you will select one of the homes to purchase, calculate a monthly payment on the mortgage note, compare this information with what you can potentially afford, and address additional questions related to home ownership.