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BUSI 330 - Project #1BUSI 330 - Project #1
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BUSI 330 - Project #1BUSI 330 - Project #1
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25BUSI 330
Project #1
Address of Subject Property:
1658 Vernon Street
Halifax, NS
Prepared By:
Tremain Sampson
RED Student ID: 3700597
UBC Student ID: 26619247
Real Estate Division
Table of Contents
, 25
PART A
Question #1 ...............................................................................................................3
Question #2 .............................................................................................................. 4
Question #3 .............................................................................................................. 6
Question #4 ...............................................................................................................7
Question #5 ...............................................................................................................8
PART B
Photographs of the Subject Property .....................................................................13
Neighbourhood… ................................................................................................... 14
Site Description… ................................................................................................... 16
Land Use Controls & Zoning................................................................................... 18
Description of Improvements… ............................................................................. 20
Assessment and Property Taxation…..................................................................... 21
Appendices
Appendix A Property Location… ......................................................................... 23
Appendix B Residential Appraisal Reports… ......................................................24
References…............................................................................................................ 26
PART A - Questions
, 25
Question #1
Discuss two examples from your own personal experience when you found yourself assigning
or justifying a “value” for something. What category or definition of value were you applying?
What factors influenced your decision to buy and pay the price you did for the item?
1. The first example from my own personal experience when I’ve found myself assigning
value to something was when I made the decision to purchase my first smartphone. In
today’s society, there are a variety of way’s people are able to communicate with one
another. Whether it be through devices such as computer’s, cellphones or tablets, these
electronic gadgets all have a variety of unique applications that allow individuals to
achieve what they want, such as, gaming, editing or creating documents, even the
invention of new applications seems to be a common trend. In order to add value to the
cellphone I wanted to purchase, I asked myself several questions: which brand is more
suitable to my liking? How much memory do I need? Which one is the most price
efficient?
In order to choose the proper brand name device, I had decided to benchmark
comparable smartphones in order to come to a final conclusion. While drawing up my
final conclusion I had to ensure that the smartphone I purchased could transfer my files
from my desktop to the phone, it was easily upgradable, user friendly and it was able to
carry a large amount of data. With the process of elimination based on these attributes I
was able to purchase a smartphone that was not only cheap but could also carry and
store the music and data I desired, without the worry of diminishing the value of my
purchase. I was able to conclude that the situation described above is a form of one of
the four economic factors of value, effective purchasing power. As defined in the book, I
displayed the ability of an individual to participate in a market to acquire goods and
services with cash or its equivalent.1 I purchased something that was worth my money.
2. The second example from my personal experience when I found myself not only
applying but justifying value was when I had decided to enroll in university rather than
community college. My purpose was to gain the academic knowledge necessary in order
to become a trained professional in the world of business and real estate. This became
the foundation as to why I took out a student loan and paid a higher price for university
courses over the cheaper route of college. I believe this has benefited me tremendously
as I have gained a more in depth understanding on my professional career interests
which has allowed me to apply financial knowledge for investment strategies while
setting myself up for future success by completing my degree. I would define this
situation as an investment value, “the specific value of a property (in this case education)
to a particular investor or class of investors based on individual investment
requirements.” 1 This investment will benefit me where ever I go in my career and my
completion of courses will outweigh the cost of getting there.
Question #2
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