Assignment
Journal: The Rent or Buy Decision
Journal: Captain Olson and his wife have just been assigned to Norfolk, Virginia, naval base. Captain Olson is expecting that his tour of duty there will be 4 years. As a Captain in the U.S. Navy, Captain Olson earns $85,000 a year and his wife is a stay at home mother who cares for two teenage boys, Larry (age 13) and Calvin (age 15). The Olson family is trying to make a decision as to whether to buy or rent during Captain Olson's tour of duty in Norfolk. They have come to you to help them make this decision.
Using the information learned in this unit, think about what steps you would take and what information you would have them consider in making this decision.
Then based on your reading and research on the Internet concerning real estate in Norfolk, Virginia, respond to the checklist below.
Checklist:
• Determine the real estate values in terms of the Olson family's needs.
• Make a recommendation to the clients to rent or buy in this market.
• Explain your reasoning providing support for your recommendation.
• Show calculations to support the rent or buy decision above.
Respond in a minimum of 200 words in APA format in your Journal.