Real estate is a common word used now a day, but are familiar with what exactly it means? Let’s first understand what it actually is. Real estate is a terminology used to refer to property that includes land or building, moreover, it constitutes of utility systems, roads attached to the property, structure, and fixtures.
The property can be available for sale and purchase, giving the ownership title to the buyer. Buying real estate is a safe investment. If you want to save for future then real estate, it is!
Now that you have an understanding of what real estate is, let’s look in more closely to understand it better. Here are the types of real estate properties available:
- Commercial property
- Industrial Property
- Residential property
The land is one of the basic property on which the rest of the properties are based. Land could be categories as a vacant piece of an area or farm land. It can be further categorized into site assembly, reuse, subdivision, early development, undeveloped. You can buy land for any further use and it will be your safe investment.
The demand for land has increased recently because of the growing need for residential and commercial projects. Builders are purchasing land for constructing other real estate properties such as the commercial or residential property.
Residential property is one of the most common of all. The dream house you wanted to purchase is actually the right example of a residential property. The apartment or house you live in is called residential; it is any property that you purchase to live in and not use it for any business purpose. With the increase in population, it is getting difficult to find an ideal residential property at the location you are wishing for. The struggle of buying a house gets more complicated when you are looking for a dream house. Among all real estate properties, the residential one is the category, which gives a good commission margin to the agents, because of growing need.
The land of every county is divided into zones with regard to activities, some are for a residential purpose and others are a commercial and industrial area. When we talk about commercial property, it can be both in the form of a fully constructed building or land. If you want to use a property for commercial, use then you can contact real estate agents they will show you the right place that will be a safe investment. Commercial property includes malls, shops, schools and colleges, restaurants, cafes, offices, and hospitals.
Industrial property is assigned away from the cities so that the industrial setup does not disturb life. Industrial property includes the land used for manufacturing, production, and research or storage purpose. Real estate properties such as industrial are one of the largest investment. The factories setups are so large that they are assigned a separate zone in the country so that it stays out of the city.