Homeownership – The American Dream

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(Homeownership – The American Dream) In a 3-5 page academic paper, conduct research to identify homes within your region or neighborhood. Find a home that you would like to own. Conduct research, and identify the asking price of the home, as well as what the seller purchased the home for (most counties in the United States have public websites that show this information. Otherwise, use the multi-listing services of real estate companies). Calculate whether the seller made or lost on his/her investment while declaring the elapsed time of ownership. Calculate the annual yield of the seller’s investment. Furthermore, determine the down payment necessary to purchase this home, along with the closing costs you would be responsible for. Estimate the types of repairs that would be necessary to occupy the home, along with those appropriate costs. Finally, project the appreciation of the property (say over a 10-year period), and whether your investment would be positive, or whether you might lose value over this 10-year period.

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