What are defined as expected benefits to be received as a result of ownership?

The phrase "expected benefits to be received as a result of ownership" relates specifically to what a property owner anticipates gaining from their investment. This definition aligns closely with the term "value propositions."

Value propositions refer to the unique benefits or values that an owner can expect, such as increased quality of life, potential financial return, or enhanced convenience. These propositions are central in real estate because they help buyers determine whether a property meets their needs and expectations. In this context, amenities—while they often contribute to the overall value proposition—are specific features or services within a property (like pools, fitness centers, or community parks) that enhance the owner's experience.

While features and services do contribute to the overall appeal of a property, they are components within the broader concept of value propositions. Thus, value propositions encapsulate the expected benefits in a more comprehensive manner, making it the most accurate answer.