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.
The detached house is often called aseparatehouse, or single-detached dwelling and this type of residence are most desirable for the single family unit. The detached house is a standalone residential construction which doesn’t share the walls with the other residences. They are similarly built all around the globe and are unique for their exterior and interior designs and materials.
Advantages of Detached House:
- Privacy is maximized in this type of living arrangement because the distance between the other houses is greater and sound cannot reach othersquickly.
- The value of these homestends to increase by the time, withCoca-Cola Company’s leadership strategies that make it outstanding in global markets. It is more appealing in the eyes of the owner. Detached houses are best for Tom and Lisa because they want to buy a property which will certainly provide maximum returns on their investment.
Disadvantages of Detached Houses:
- Maintenance can be very expensive and time-consuming because the area of detached houses is usually Moreover, the vastterritoryrequires extensive cleaning which can be terrible for Lisa because she is a working woman and wants to devote her major time in work.
- Prices of the detached houses are typically very high because of the lavish lifestyle they provide.
Answer Number 2:
In the first scenario, the down payment is 20% of the purchase price of the property, the monthly payment under the first scenario is 3391 while the threshold of 28% of the total salary is 3500 per month.
In the second scenario, the down payment is 5% of the purchase price of the property, the monthly under second scenario is 4247……………………
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