What Is Real Estate?
Real estate is the land along with any permanent improvements attached to the land, whether natural or man-made—including water, trees, minerals, buildings, homes, fences, and bridges. Real estate is a form of real property. It differs from personal property, which are things not permanently attached to the land, such as vehicles, boats, jewelry, furniture, and farm equipment.
Types of Real Estate
There are five main types of real estate:
1. Residential real estate: Any property used for residential purposes. Examples include single-family homes, condos, cooperatives, duplexes, townhouses, and multifamily residences with fewer than five individual units.
2. Commercial real estate: Any property used exclusively for business purposes, such as apartment complexes, gas stations, Commercial Plot, grocery stores, hospitals, hotels, offices, parking facilities, restaurants, shopping centers, stores, and theaters.
3. Industrial real estate: Any property used for manufacturing, Industrial Area, production, distribution, storage, and research and development. Examples include factories, power plants, and warehouses.
4. Land: Includes undeveloped property, vacant land, and agricultural land (farms, orchards, ranches, and timberland).
5. Special purpose: Property used by the public, such as cemeteries, government buildings, libraries, parks, places of worship, and schools.
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