Real estate particularly refers to land and physical property affixed to the land which includes houses, bungalows, landscaping, official buildings, and all the other constructed properties. It’s called real estate as it literally means real physical property.
There are generally four types of real estate categories available and defined in the industry.
Types of real estate
Residential real estate –
This part constitutes of newly constructed homes as well as resale homes or any bungalow or property. The most common type can be single-family houses. Other types are like duplexes, townhouses, triple-deckers, quad plexes, high rated and valued bungalows, vacation homes, outhouses and all.
Commercial real estate –
This category includes shopping centers, shopping malls, institutional buildings as well as hotels, offices, company buildings, and the residential apartments too because they are owned to produce income, even though they are meant for residential purpose.
Industrial real estate –
This category particularly has all the manufacturing and industrial buildings and properties like warehouses. The buildings can be used for production, storage, sealing, packaging, and marketing as in the distribution of the products.
Land real estate –
This category includes vacant land, farms that have long stretches of empty land. Land as in general means just plain land with production or nothing going on but has to be an open and long stretch of property.
One of the most important in all the above four types is the first one that is the residential real estate. Whatever be the need for people’s choice of shelter, it covers that. Real estate for residential need is very important because the house is among the three basic need of human existence.
Everyone needs a home of their own where they can live with their family, comfortably. No matter whether they own it or just on rental but the existence of a house to live in is itself satisfactory.
Today’s market is so diverse that a person can get any type of property that he or she wants with all the filters they need and according to their budget. That’s the beauty of the real state.