The definition of real estate is “Real property consists of land and all the buildings and fixtures on it, including its underlying natural resources like water, minerals or vegetation; and an interest in the object itself, buildings, or residential real estate in general.” A short history of real estate would show that it started from the middle of the fifteenth century as a way for the powerful to accumulate wealth. Throughout history, countries such as England, Spain, the United States, and Australia have all used real estate as a way to develop their countries. This article focuses on real estate in the United States. The purpose of this article is to provide a brief history of real estate for students as well as a general overview of real estate in the United States.
There are two main categories of real estate: personal and real property. Personal real property can be comprised of homes, farms, jewelry, vehicles, businesses, and equipment. Real estate assets include buildings, land, forests, and other natural resources that can be leased, developed, or utilized. Other categories of real estate include permanent fixtures, vacant land, mining and mineral rights, easements, title, fences, barns, storage sheds, and private primary residences.
As discussed above, there are two main categories of real estate. One deals with residential properties. These are houses, condominiums, townhouses, apartments, and whatever other types of buildings people prefer to live in. The other category of real estate concerns natural resources. This includes natural gas, water, electricity, etc., as well as residential properties and buildings that provide support services to these natural assets.
So, what are the main economic characteristics of real estate? The first economic characteristic of real estate is the land it is built upon. The land used to build the property must meet the local zoning requirements to be considered legal residential property. Zoning requirements vary from area to area, so the first step to building any property is to ensure that the property complies with zoning laws. In many areas, this requirement is a minimum size of the lot that must be used for any building, whether it is a single-family home in an apartment building or even a store. Other zoning requirements may also apply to the construction of streets, sidewalks, driveways, and other property used by the property owner.
Now let’s take a look at the other characteristics of real estate. Within the single-family homes category, we find that buildings can generally be classified into one of several types. Manufactured homes are typically built on-site using a prefabricated building, which means that the actual construction of the building and its components occur only at the close of the sale. In the single-family manufactured housing category, you will also find manufactured homes that are designed to be both energy-efficient and to meet local code requirements. One category that is rapidly growing in popularity is manufactured housing that is designed as modular construction units. Modular housing is a term that describes how buildings are constructed in a factory and then moved to their final destination on the site of their construction.
Of course, there are also a variety of different real estate categories, including Single-family Residences, Multi-family Residences, Office Buildings, Retail and Office Parks, Condominiums, Townhouses, and Mobile Homes. In any category of real estate, residential or commercial, the primary distinguishing factor is the number of units in a building. There are building sizes ranging from apartment buildings up to huge multi-family residences. Most real estate resales follow a steady increase every year, but there is also an increase in the number of new construction resales as well as resale homes. Because the demand for housing is quite high right now, there has never been a better time to invest in New Construction properties than the present.
Investing in real estate today means that you need to become educated about the current trends regarding these different types of building and their location on the market. You must have a clear idea of which category of real estate you want to invest in. Whether you are planning on making a profit by renting or buying, there is a certain type of profit that you will make based upon the location of the building and its tenants. For example, if you are interested in investing in rental buildings, you can buy plots of land that are already built up or will soon be constructed. The tenants of these buildings will pay you rent, which is your gain.
The two main categories of real estate investment are residential and commercial. Residential real estate is usually located on a piece of property that is adjacent to a school, church, post office, shopping mall, or other similar business. Commercial real estate includes such real estate as apartment buildings, townhouses, condominiums, and mobile homes. These types of real estate investment properties usually have tenants that will use the space daily. Whether you are looking to buy a vacant lot of land where you can build a new house or a vacant lot that is surrounded by houses, there are many deals available on these pieces of property.