TYPES OF REAL ESTATE TO BE ACQUAINTED WITH.
Real estate indeed has a broad scope and encompasses quite a wide range of options that every intending home-owner or investor in the real-estate sector should be fairly familiar with to gain a good grasp of proceedings in the sector. Different real-estate companies often deal in different areas of Real-estate, some pitching their tent in one particular area while others combining the different areas in their real-estate business, thereby forming a structure that caters to the general real-estate needs of its clients.
Real-estate agents often start out in one of the niches of real-estate while acclimatizing with the real-estate industry and understanding client’s needs, property valuation and the expected returns on the different types of real-estate. It is therefore expedient to get an overview of the different types of real-estate that you might encounter in your journey as a real-estate investor.
These are some types of real estate you might be involved with.
1. Residential real estate
Residential real-estate seems to be the more popular form of real-estate as even people who cannot as yet afford to buy their own home would still need a place of residence, as shelter is considered to be one of the three basic needs of man apart from shelter and food.
Most Real-estate agents start at this point, some stay, while some proceed into some other forms of real-estate.
Residential real-estate consists of both new constructions and resale homes. The most common category seems to be the single-family homes. There are also condominiums, co-ops, townhouses, duplexes, triple-deckers, quaduplexes, high-value homes and vacation homes. Victoria crest homes real-estate company for example offers residential houses for sale in Lekki.
2. Commercial real estate
Commercial real-estate seems to be a functional and thriving aspect of real-estate. Commercial real-estate involves land or buildings that are intended or used for businesses. There are quite a number of factors that could affect the valuation of such properties, including the location, and the expected revenue generation.
Commercial real-estate include such buildings as shopping centers and malls, trade centers, medical and educational buildings, hotels, and offices. In certain open contexts, residential apartments can also be viewed as part of commercial real estate, even though they are mainly residential and this is simply as a result of their revenue-generating function.
3. Industrial real estate
Industrial real-estate includes such buildings as warehouses that allows for easy and efficient movement of goods through the supply chain to the end-users of such products. Most of these Industrial real-estate are strategically located close to major transportation hubs or large population centers. Industrial real-estate includes manufacturing buildings and property, including warehouses, that can be used for research, production, storage and distribution of goods. Industrial real estate ensures that the supply chain is not jinxed and is in a flow, optimizes trade and e-commerce, allowing for the easy movement of goods from makers to markets.
Land like they say is a free gift of nature. But obviously Land has become one of the most valuable assets any man can posses according to major economic statistics today. Land can be a very profitable investment due to the relative high demand for land. Land includes vacant land for farms and ranches and also lands for development. Subcategories within vacant land include undeveloped, early development or reuse, subdivision and site assembly.
Victoria crest homes real-estate company deals in the sales of land and houses for sale in Lekki.