Real estate is available on four types, commercial, residential, industrial and land. In this article you are going to learn how the four types differ from each other.
Residential real estate
This includes both resale homes and constructions, the common types of homes here are the single family homes. Apart from the homes, there are vacation homes, condos, duplexes, co-ops, quadplexes, townhouses, high value homes, multi general homes and triple-deckers.
It includes ranches, land and working farms, a vacant land has the following sub categories site assembly, early development and undeveloped.
Commercial real estate
This consists of hotels, shopping centers, educational buildings, offices, and strip malls. Apartment homes are always considered but they are residential buildings and that is because they are used to produce income.
Industrial real estate
It includes warehouses, manufacturing properties and buildings. These buildings can be used for distribution of goods, research, storage and production.
A real estate has three types of people, buyer’s agent, real estate agent and seller’s agent. These people play a major role when it comes to buying and selling properties.
Real estate agents
These are people who help homeowners, investors and businesses buy and sell the four types of properties.
They play a big role in finding buyers, they help in pricing your property as well as sprucing it up to look good for your customers. In addition to that, they assist in negotiations with the buyer.
They help a buyer find a property to purchase, they know everywhere and finding you a property will take little time. Apart from that, they help you compare a price which helps them to guide you to areas with affordable homes.
Pros of real estates
Has a unique tax benefit
Real estate appreciates over time
It lets you use leverage
Provides a unique cash flow
Provides a hedge against inflation