Real estate is considered as the property which is consists of land and buildings on it which also includes growing of natural resources such as crops, minerals or water. It is the immovable property of the nature and it is also the real property like buildings or the housing in general. Residential real estate contains either a single family or the group of families which is being available for the occupation or for the non-business purposes. Real estate is a real property which consists of land and the improvements which includes the buildings, fixtures, roads, structures and the utility systems.
Types of real estate:
There are several types of real estate with the unique purpose and the utility. The main categories in the real estate are given below:
Land – Land is considered as the baseline for all the types of real property. This land typically refers to the undeveloped property and the vacant land in which the developers acquire the land and also combine it with the other properties. They rezone it and so they can increase the density and also increases the value of the property.
Residential – The residential real estate consists of the individuals, families or the groups of people. This is considered as the most common type of the estate and also in the asset class there are most families being familiar with. Within the residential, there are more single-family homes, apartments, condominiums, town houses and also the other types of living arrangements.
Commercial – Commercial property refers to the land and also the buildings which are being used by the businesses to carry out the operations. Some of the commercial real estate includes shopping malls, individual stores, office buildings, parking lots, medical centers and also the hotels.
Industrial – The industrial real estate refers to the land and the buildings which are being used by the industrial businesses for the activities such as the factories, mechanical productions, Research and the development, construction, transportation and other things.
Examples of the real estate:
Some of the examples of the real estate’s are listed below:
Single family dwelling – This is designed for the home which can occupy one family only.
Multi-family dwelling – This multi-family dwelling home is designed for more than one family.
Apartment – This is an individual unit in a multi-unit building and the boundaries of the apartment are generally defined by the perimeter of locked or lockable doors. They often saw in multi-story apartment buildings.
Overview of real estate industry:
The real estate industry is being divided into the several different areas are given below:
Development – Real estate development is a process which involves the purchase of the raw land, rezoning, construction and the renovation of the buildings.
Sales and marketing – Sales and marketing firm are works with the developers who can sell the buildings and the units they can create.
Property management – In this property management, the real estate owners rent out the units in their buildings.