If you are looking to create a real estate portfolio or need information about selling your property, then first you need to know how many categories of real estate are there. Some of you might be receptive to property types, but who are not have got the chance now. Let’s get on track:
Also renowned as residential properties, homes are first choice of real estate investors. You must be among one of those who is interested to sell, buy or rent it. No matters if the home is a condo, apartment building or a duplex, housing properties were, are and will always be in demand. These can be located in the heart of the city, outskirts, urban or a rural area. It is important to know that the revenue laws might take it from a unique point of view than you. One of the best examples could be to use the biggest residential properties as an income producer but Alas! may not tune well with residential loans.
About every home dealer must be familiar with the term business property also called as commercial properties. A business property is one which is popular for trade or business use. To shed light on further types of business properties, here are few examples:
- Shopping Malls (Wal-Mart or Big Bazaar)
- Retail Shops
- Hotels and Restaurants
- Amusement Sites
- Business Parks
Commercial dealers have a different decisive factor to look at the business properties, since they are not just different in type but different in business use as well. Like an office space may hardly transformed into a beauty salon. Shareholders and capitalists prefer buying commercial properties as they proffer a high appraisal value and good return on investment. That is why people convert apartment buildings into commercial properties.
Many folks hoodwink into thinking the industrial is a commercial property since it is doomed for commercial use. On condition that it meets up all the zoning laws and regulations, a commercial property can be erected in a business park. On the other hand, industrial property are usually obtained for industrial units, power plants and other manufacturing constructions that are located in far-flung areas and hardly observe much of pedestrian travel.
Farming and Cultivation
This type of property is the most easy to understand as it is mainly bring into use for agriculture. Loads of people would take it for growing crops, but ranches is other thing it can be implemented for. Some of the main agricultural uses of agricultural or vacant land are orchards, horticulture and woodlands. Information about the same land is necessary as not all plants may fit into all hardiness zones. Like some agricultural areas being tropic might not be good to grow blueberries.
Singular properties are not the scope of influence of all investors, only few out of thousands are capable to handle them. It means this a singular purpose property which has certain restrictions on its use. These properties may be developed and only after squandering extra capital can generate some income. Such lands can include graveyards, green lands and holy places.
This information might have helped you a lot in deciding on a type of property you would like to invest in or sell in a while. Ensure the realtor knows the intended property falls into which category and zoning whether you are looking it for a purchase or an investment.
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