Real estate is simply property consisting of the actual buildings and land on it, and its accompanying natural resources like water, plants or minerals; and its intangible assets like land, buildings or houses in general. It is the most lucrative business in the world with a market worth trillions of dollars in North America alone. Most real estate investments today are made by private individuals as a financial investment or to use it as a pass-through in getting government loans. The most common real estate categories are single family homes, condominiums, estates, farm houses, manufactured homes, rental properties and the like.
Single-family homes are generally small in size and have one to four rooms. The land plot may be wide or long and may contain a field, a golf course or a residential building surrounded by crops or trees. In Canada, homes are generally built in rural areas, unlike in the United States where they are built in urban areas surrounding large cities. A typical type of single-family home in the U.S. is a tract home, which can be subdivided into smaller homes. These houses are generally built on a piece of land with the master’s or other inheritor’s property serving as the boundary of the property.
Condominiums are multiple unit buildings that are designed as apartment buildings, town homes, row homes or condominiums depending on their design and size. Most condominiums are built whether permanently attached or on some other kind of lien. Permanent attachable condominiums have the option to move into the next year, should the current residents choose to move out. However, owners who are renting the units may not be able to move if the building becomes unlivable because of problems like fire or flood.
Farm houses are constructed either on the land of the owner or on some kind of closed property belonging to someone else. The land on which these buildings sit is called the real estate property. Some of the people who own the land do not cultivate the land themselves but rather hire workers who do. Others may grow the crops that will be sold. The land is sold to those who are interested in purchasing it.
Other examples include retail stores, offices, restaurants, hotels, farms, monasteries and others. The term “Real Estate” encompasses a wide variety of things that could be included under the general heading. In actuality, the definition of Real Estate includes virtually anything that someone would want to buy, own, rent, lease, sell, and use. Examples of things that are considered Real Estate include: houses, land, mineral rights, buildings, mining claims, and other types of physical properties. Within the real estate category are two general categories that include: residential Real Estate and Commercial Real Estate. These two categories cover the broad spectrum of Real Estate, including both permanent attachments and non-permanent ones.
These five main categories of Real Estate cover what people commonly refer to as Real Estate. Within these five main categories of Real Estate, you can invest in residential, commercial, industrial and in some cases, agricultural Real Estate. This means that if you are an investor looking for an investment, it is easy to see that type of real estate you could make an investment in. The important thing to remember when investing in Real Estate is that you should take the time to look at the five main categories of Real Estate and then determine which one suits your needs.