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ENGR301 JJ 23F Individual Project - Part A Due date: See Moodle The year is 2020, and you are starting your engineering degree at Concordia university. You have collected the minimum cash down payment to buy either a house, condo, or 3-unit multiplex on the island of Montreal. You decide to analyze the housing market to determine what the best purchase is, considering income from potential tenants, travel type and travel time to arrive at 8:30 AM to Concordia University, SWG (downtown) campus. You plan on living alone, without roommates. Select a housing strategy which will minimize housing expenses and travel time to Concordia University with the use of the accompanying figures and add the score from the two criteria below. The arrangement with the lowest Housing Score gets the most points, which will be attributed based on a statistical analysis of all submitted projects. - Travel time 0.5 points / minute of unmotorized travel time (walk, bike, bus, metro) 1.5 points / minute of motorized travel time (car, taxi, uber) - Housing costs 1.0 point / 10000$ of overall present value housing costs Please submit a 3-5-page report in PDF format with your housing selection, neighborhood, and score, including all calculations, Google directions results, or programming used to aid you in your selection. - Assume a mortgage rate of 5.00% for the entire duration of a mortgage. - The mortgage amortization period is 25 years, with monthly compounding and payments. - All costs are to be calculated to present value. - Assume a growth rate of 2.00% for both home values and rental units over the entire mortgage amortization period. - If a housing type in a sector is noted as N/D (no data) in Table 2, it is unavailable. - If apartment costs are not available in a sector, use the average cost of all bordering sectors. - Housing costs are to be calculated without including taxes, maintenance costs or condo fees. - The average 3-unit multiplex in any borough has the following apartments: - one 3-bedroom - one 2-bedroom - one 1-bedroom - The basement of a single-family home can be converted into a 1-bedroom apartment. - The minimum cash down payment at time of purchase is: - 5% for a single-family home or condo - 10% for a 3 -unit multiplex - Travel time to Concordia University must be estimated by using Google Directions by using the name of the borough. - Use the "arrive by" function to estimate arrival time at 8:30 on weekdays. Note: Plagiarism is strictly prohibited. Keep your work confidential. Table 1 - Average Rental Rates by Listing Type and Neighbourhood Table 2-Median housing price by sector in Montreal, 2020 (see map on next page) ENGR301 JJ 23F Individual Project - Part A Due date: See Moodle The year is 2020, and you are starting your engineering degree at Concordia university. You have collected the minimum cash down payment to buy either a house, condo, or 3-unit multiplex on the island of Montreal. You decide to analyze the housing market to determine what the best purchase is, considering income from potential tenants, travel type and travel time to arrive at 8:30 AM to Concordia University, SWG (downtown) campus. You plan on living alone, without roommates. Select a housing strategy which will minimize housing expenses and travel time to Concordia University with the use of the accompanying figures and add the score from the two criteria below. The arrangement with the lowest Housing Score gets the most points, which will be attributed based on a statistical analysis of all submitted projects. - Travel time 0.5 points / minute of unmotorized travel time (walk, bike, bus, metro) 1.5 points / minute of motorized travel time (car, taxi, uber) - Housing costs 1.0 point / 10000$ of overall present value housing costs Please submit a 3-5-page report in PDF format with your housing selection, neighborhood, and score, including all calculations, Google directions results, or programming used to aid you in your selection. - Assume a mortgage rate of 5.00% for the entire duration of a mortgage. - The mortgage amortization period is 25 years, with monthly compounding and payments. - All costs are to be calculated to present value. - Assume a growth rate of 2.00% for both home values and rental units over the entire mortgage amortization period. - If a housing type in a sector is noted as N/D (no data) in Table 2, it is unavailable. - If apartment costs are not available in a sector, use the average cost of all bordering sectors. - Housing costs are to be calculated without including taxes, maintenance costs or condo fees. - The average 3-unit multiplex in any borough has the following apartments: - one 3-bedroom - one 2-bedroom - one 1-bedroom - The basement of a single-family home can be converted into a 1-bedroom apartment. - The minimum cash down payment at time of purchase is: - 5% for a single-family home or condo - 10% for a 3 -unit multiplex - Travel time to Concordia University must be estimated by using Google Directions by using the name of the borough. - Use the "arrive by" function to estimate arrival time at 8:30 on weekdays. Note: Plagiarism is strictly prohibited. Keep your work confidential. Table 1 - Average Rental Rates by Listing Type and Neighbourhood Table 2-Median housing price by sector in Montreal, 2020 (see map on next page)