Real estate refers to the buying and selling of tangible property, land, buildings and other properties. Real estate includes commercial real estate, residential real estate and the land itself, and its accompanying natural resources like water, minerals or plants; immovable real property of that nature; an equitable interest in it, buildings or houses in general, and any improvements made on them. Real estate also includes improvements on the underlying assets held to be used for such purposes. It also includes rights to use, enjoy and possess the underlying asset. Real estate brokers deal with the buying and selling of property and are involved in brokering and facilitating transactions between buyers and sellers of real estate.
There are different types of real property as listed below: holdings under the building and construction authority, which are the legally-binding obligations of a building owner; trusts, which are mortgages on buildings and contain covenants and restrictions; franchises, which are the exclusive right to utilize a particular property and specific areas within a specified territory; and private hire, which are the exclusive right to use a specific building or area by hiring out. The various types of real estates include single family residences, multiple unit dwellings (also known as apartments), townhouses, condominiums, row houses and manufactured homes. Within the various types of real estates, there are numerous variations. One of the most common variations is single-family dwellings. These are usually of little importance to the overall structure of the real estate, but play an important role in determining the value of a real estate property.
Most residential real estate falls into one of four types. These are: row homes, single-family homes, bungalows and apartment buildings. Each of these four types of real estate has their own advantages and disadvantages and are used for different purposes. Here are the four types in order of their classification and the relative importance they play in the overall residential real estate market.
The first type of real estate is vacant land. Vacant land can be comprised of almost any piece of land with a minimum required space. This can include vacant fields, undeveloped tracts of land, undeveloped lakes and ponds, undeveloped forests and other natural landscape areas. In order for a piece of vacant land to qualify for purchase, it must meet the requirements of the Residential Real Estate Association (RES) and the requirements of the Division of Land Use and Environmental Quality of each city or county in which it is to be used.
The next type of real estate is commercial real estate. Unlike residential real estate investing, commercial real estate investing requires much more space than residential investing. Commercial real estate includes office buildings, warehouses, shopping malls, industrial facilities and hotels. There are many people who turn to this form of real estate investing because the capital required is generally lower than that required for residential investment.
One final type of real property is building’s tangible assets. This includes tangible equipment such as office buildings, warehouses and shop buildings. Examples include the real estate owned by Microsoft in North Vancouver, British Columbia, Canada. The Microsoft buildings tangible assets are comprised of twenty-five buildings, comprised of four apartment towers, retail shops, and one very impressive office building. While these real property examples are just a few of the real property that an investor may acquire, they are some of the more common types that investors seek out when looking to make investments.