What is Real Estate? By ResaleAdvisor

What is Real Estate? By ResaleAdvisor



What is Real Estate?


Real estate generally refers to real or physical property. It includes buildings, lands,  air rights (above the land), and underground rights (below the land). But in terms of business, real estate also refers to buying, producing, and selling properties.

Real estate is real property that consists of land and improvements, which include buildings, fixtures, roads, structures, and utility systems. Title of ownership is given to the land, improvements, and natural resources such as minerals, plants, animals, water, etc which is called property rights.


Types of Real Estate:-



There are a variety of property options available in the market. Whenever a person thinks about buying a property, one question arises, which kind of property will fulfill their requirements? Whether you should go for an apartment, plot, individual home, etc. For answering these questions we need to know the different types of properties available out there. So, people can decide which property suits their requirements the best. Let’s know about different types of properties.


There are different types of real estate, and all of them has different purpose and utility. But they come under 4 main categories for those who are looking for understanding how the industry works and what each of the major categories represents, the details given below will work as a guide:-



  • Housing/Residential property 

  • Commercial property 

  • Industrial property 

  • Land  


Housing/Residential property 


If you talk about which is the most invested real estate in the market. You will mostly get one answer from everyone, and that is residential properties. Under residential properties, there are some other Categories like single-family houses, apartments/flats, condos, villas, duplexes, townhouses, multifamily, and cooperative residences. But if we look at these properties from an investment point of view, all of them have different prospects. Like in the case of an individual house, with time the value of land increases, but in the case of an apartment, the value doesn't increase after the use of 10-20 years. If you are interested in and considering buying a residential property then visit ResaleAdvisor.com


Commercial property 


Commercial property refers to land and buildings that are used by businesses to carry out their operations. When we say commercial properties, we are talking about the lands and buildings which are used by businesses to carry out their business operations. Like malls, hospitals, assembly plants, storage warehouses, shopping centers, office spaces, or any other location for a business enterprise. Commercial properties are generally classified as primary, secondary, and tertiary, and these are based on their distance from the city center. It is costlier than residential properties.  If you are want to invest in real estate and considering buying a commercial property then visit ResaleAdvisor.com



Industrial property 


Industrial real estate refers to land which is basically used for constructing a factory or manufacturing buildings, mechanical productions, construction research and development, logistics, transportation, and warehousing.

The industrial properties are mostly located on the outskirts of cities mainly to avoid the pollutants to reach the general public. In addition, to this, there are specific areas that are designed for industrial properties so that they don't disrupt other businesses and residences. Industrial property is a risky and costly investment and it's definitely not for beginners. But because it has higher risks, it also has higher ROI ( RETURN ON INVESTMENTS). If you are interested in and considering buying an industrial property then visit ResaleAdvisor.com


Land


For someone who is new to real estate and wants to play safe than investing in land is the safest option to go for.  Because these are mostly underdeveloped areas and that's why the least expensive and safest option. The land is also categorized into two:-agricultural and non-agricultural land. These types of properties are fulfilling basic human needs, which is why it's easy to obtain finance for them than for other properties.  And for land, the property tax and maintenance are also not very high. But yes, the interest rate on loans for land is higher than on home loans. However, investing in land is still a good option because it could pay generously in the long run. If you want to invest in the land then visit ResaleAdvisor.com


Examples of Real Estate


Now that we understood the four main categories of real estate, let’s find out more about real estate with examples of real property.


  • Single-family dwelling – A home that is designed only for a single family.


  • Multi-family dwelling – A group of homes designed for more than one family.


  • Attached – Any unit that is connected to another.


  • Condominium (Condo) – It is basically a building in which each unit is owned by a single person.


  • Detached house – A free-standing building that is not connected to anything else. Like a stereotypical house.


  • Apartment – A single unit in a multi-unit building. 


  • Multi-family house – We can see this in multi-story detached buildings where each floor is a separate apartment or unit.


  • Villa – A building that has only one room and generally a steep pointy roof.


  • Portable house – Houses that are moveable.


  • Mobile home – A vehicle on wheels that has a permanent residence attached to it.


You can find many of these real estate properties by visiting ResaleAdvisor.com


You are always at an advantage if you buy any kind of property like a home to live in and land because it gives high returns. You just need to analyze your requirements before investing in real estate, and in this process, ResaleAdvisor will work as a guide.






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