Real Estate is both an easy and a complicated topic, and choosing between the several types of it can be quite confusing. However, we are here to help, so that you have the complete information and are able to make an informed decision.
Read on to find out more about the different types of Real estate:-
- Residential Real Estate:-
This type is the most popular amongst the general public and includes construction of new houses as well as resale. Further, there is a specialization in the type of residence such as separate homes, duplexes, condominiums, vacation homes, etc. The builders and agents earn a hefty sum out of this real estate, and the people these days are investing more and more in the residential real estate.
- Commercial Real Estate
All the shopping complexes, malls, multi-story offices, hotels, gas stations, all of these come under Commercial real estate. Selling or acquiring a commercial real estate is more difficult than the former because it requires certain licensing and permission. Also, the rates of such properties are extremely high, and only the richest of businessmen and firms are capable of affording such kind of real estate.
- Industrial Real Estate
Industrial Real estate has under its umbrella several manufacturing units and buildings, such as factories and warehouses. Such kind of buildings can be used for production, storage, and distribution. Moreover, when it comes to these kinds of properties, the construction, zoning and selling are dealt with in a different manner.
Under this vast term comes the Vacant Lands and working farms. Moreover, the vacant lands consist of underdeveloped lands, and used lands. Although these are owned by someone, these lands are not being used for any productive purposes or residential purposes. However, even though they are not under any use, yet they have a considerable value in monetary terms.
All these are the various kinds of real estates that are available all around us, and all of these are highly utilized for the purpose of Industrialization and Urbanization, further making the world more wealthy and resourceful.