Any kind of property considered to be real estate including house land or any other building with legal improvements. The legal rights of the property give its owner the ownership of all the resources of these real estate like water minerals or anything happens to be found in that real estate. The major categories which are lie under the umbrella of real estate are as follows:
- First and most familiar type of real estate is residential real estate which includes all kinds of homes or buildings which can be used for living over there. The houses or buildings can be for single person or a joint family. The owner of the real state will be owner of every kind of resources find over there like minerals or any kind of metals. Most of the people know all about this residential type of real estate and also owning this.
- Land is also considered as real estate in Boxhill. But the land must be bare or non-developed that it not any building would be built over it. Most of the people prefer to buy or on the land so that they could combine it with any other real estate in the result of which the value of the total real estate could be increased to the maximum level.
- Commercial real estate includes any kind of building which can be used for the business purposes for example any shopping mall parking lots shops medical centres are there any building which can be used for the main office for any organization. Many people on commercial real estate and then give it others on rent basis and earn a lot from this. This is one of the best ideas of business that there is surety of get paid without any risk and your property will always be in a proper use. Many people give this kind of buildings to Educational Institutes on rent it and get paid from them.
- Like mentioned above the commercial real estate includes any kind of building or land which can be used for commercial purposes like factories, warehouses or any other industries. This kind of building owners earn Millions annually as they mostly prefer to give their buildings or properties on rent it and get paid from them on permanent basis. This is also very worth considering Idea if you are owning this kind of building which can be used for factories or warehouses.
After discussing the main types of real estate’s, we are going to explode them in some more details:
- Single dwelling home design for the living of single family at a time. This kind of real estate will give you an economical benefit when your houses for sale then you can get paid according to the area where it is situated and also according to the condition of the house building.
- Multi developing homes are designed for the living of more than one family. This type of houses are not mostly sold out but the owners prefer to give it to the paying guests on rent so that they could get more and continues profit. This type of houses is built in the form of apartments and each Apartment is allotted to a family.
- Attached real estate or property includes any kind of building which is attached to any other one. Parking lots or garages include in this type of real estate. They are mostly considerable when the houses for sale in Mitcham is on with which these properties are being attached.
- Apartment includes many portions of a single building. Mostly this type of buildings is made in vertical form like in more than one grounds so that the area of the ground cover can be reduced.
- Sometimes our building is made having individual apartments in it and these individual Apartments are owned by different or individual owners.
Working of real estate industry:
- The first function of real estate industry is to buy a Bare land, constructing it and then sale it by adding the construction and extra value to it. This is one of the major businesses all over the country.
- The marketing or sales department of this business includes the process of selling the real estate which the developers have built. They get Commission in all this process according to the financial value of both the parties the buyer and the seller. They have their agents who look after the whole process of selling a unit.