The American dream Case Solution
Just after the three weeks of Lisa’s graduation, Tom and Lisa were married in June 1998. Both Tom and Lisa worked in their respective area of expertise. Lisa is very enthusiastic, and her ultimate goal is to set up her company, the couple is also motivated to attain their ideal way of living. Tom was glad to move in Bethesda where he spent his childhood. Many of his friends and family members are still reside in this area. However, Lisa wanted to raise the standard of their lifestyle and to live in the urban area rather than suburban area.
Their current residence is somewhat lavish in nature; their apartment has a swimming pool, fitness center and round the clock security system, the neighborhood is also quite satisfying, the workplace of the couple is also near to their current residence, but the traffic tribulations are increasing day by day.Although the couple is quite satisfied by their current residence, Lisa wants to build some equity by purchasing their home. Lisa was also concernedabout the increase in prices of property in Washington D.C. and would like to buy the house as soon as possible as it is forecasted that property prices are expected to further increase in the future.
The couple tried their level best in obtaining the house, but they found the process to be very complicated. Although, Lisa researched on various websites and virtually toured many homes but couldn’t find any houses that fulfilled their exact needs. Not only this, the couple contacted many real estate agents, but they didn’t thenecessary assistance they required. At last they found a house, “Grosvenor Park”, thatwas aligned with their needs and wants; however, the Grosvenor Park was quite expensive for them and required finance from outside and inside sources.
Answer Number 1:
An apartment is a residence that is aself-contained housing unit that occupies only some part or area of the building. Apartments may be owner occupied or can be rented for their rental incomes and can be bought for capital appreciation.
Advantages of Apartments:
- Apartments have ahigher degree of security because there is a 24 hours security system in many apartments; furthermore, many apartments can easily afford a state of the art security system and expensive security systems because the cost of this system is shared by many occupiers.
- Utility expenses and maintenance expendituretend to be lower because of the smaller area and also the occupier is not responsible for heat and water fees in many cases.
- Various luxurious services are provided to aresident of the apartments such as swimming pools, fitness centers, playgrounds and medical treatment centers which are considered to be essential in the modern stressful environment. These facilities are greatly welcomed by Lisa and Tom because they need these kinds of services for fulfilling their egoistic needs.
Disadvantages of Apartments:
- privacy may be compromised in the apartments, the walls of the flats are shared with other flats and sound can easily travel through the walls.
- In the recent days parking problem and is considered to be one of the biggest problems of the apartments, if the apartments do not have a sophisticated parking system, it can cause many problems for the residents.
- The services offered such as swimming pools and yardsare shared by the entire community which may again cause privacy issues.
- The congested nature of the apartments may cause disturbance and noise pollution in the surroundings which may cause some serious environmentalissues.
The townhouse can be defined as a tall narrow conventional house which has a terrace and typically has three floors. Townhouses are connected with each other with space for a small front lawn and backyard.
Advantages of Townhouse:
- Security is increased in the townhouse as compared to the stand-alone family houses because townhouses are tightly knit, neighbors can quickly notice some unusual activity and any prominent
- Townhouses are typically less expensive as compare to the stand-alone family houses The townhouses can easily be used for some legitimate commercial purpose by the permission of homeownerassociation; also, the maintenance is covered by the homeowner association membership fee. This factor may appeal to Tom and Lisa because they are very concerned regarding the prices of the property.
Disadvantages of Townhouses:
- Again, as the walls are shared by the neighbors, this will cause some privacy issues, and the sound can easily reach the neighbors as well.
- Renovations of the townhouse is sometimestough and time-consuming because the permission of the renovation is to be taken from the Additionally, Tom and Lisa will have to follow stringent policies and guidelines of the homeowner association.
- Resale value of the townhouses are sometimeslower than their purchase price, because of the above-mentioned limitation, this factor is of particular importance because they want to buy a property whichwill provide a good return on their investment.............................................................