Real Estate
Real estate includes land with buildings as well as other fixed structures. It aids in creating areas to live in, work in, or even play in, thus is essential in everyday life.
It encompasses natural assets such as water, minerals, and flora present on the parcel of land. A person when owning real estate, has the right to possess and use their property, buildings put up on it, and even alter them in any way which they deem fit.
Real estate forms a very basic element of humanity since it offers housing, business locations, and serves as a means of investment. It is highly beneficial economically and is pivotal to community development.
Real Estate Categories
Broadly, real estate can be divided into four major categories:
- Land
- Residential
- Commercial
- Industrial
Let’s briefly explain each one of them.
1. Land
Land is the basis of all forms of real estate. It consists of unoccupied spaces of plots or non-developed land. Developers generally purchase land with the aim of constructing houses, offices or even shops to increase its value.
2. Residential Real Estate
These are properties that are exclusively built for people to live in. Examples include:
Independent houses – These are single family homes.
Apartments – Buildings with separate living units.
Condos – A set of apartments each owned by different people.
Townhouses – These are row houses.
Villas – Large luxury open spaced houses.
Mobile homes– Transportable houses.
3. Commercial Real Estate
These are properties purchased with the intention of setting up a business. Some examples include:
Shops And Malls – Places for selling goods.
Office Buildings – Building spaces for companies and businesses.
Hotels And Restaurants – Buildings meant fro providing hospitality service.
Medical Centers – Hospitals and clinical buildings offering healthcare services.
4. Industrial Real Estate
These refer to the properties used for manufacturing and production, including:
Factories – Buildings for producing goods.
Warehouses – Spaces for storing products.
Distribution Centers – Buildings where goods are shipped to various destinations.
How the Real Estate Industry Works
This sector consists of many professionals and undertakings. The key sectors are:
1. Development – Acquiring land, constructing buildings, and trading them for profit.
2. Sales and Marketing – Advertising and selling properties.
3. Brokerage – Agents acting in the interest of buyers and sellers in real estate transactions.
4. Property Management – Maintaining a property which is under lease.
5. Real Estate Lending – Loans given to purchase properties.
6. Professional services – Real estate lawyers, accountants, designers, etc., helping in the field of real estate.
Why Invest In Real Estate
Investing in real estate is an effective strategy to grow wealth, here’s the reason why:
Property value increases over time – Real estate usually appreciates with time.
Earn rental income – Properties can be leased for profit.
Tax benefits – Real estate investors enjoy tax breaks.
Diversification – Buying real estate helps in balancing an investment portfolio.
Career Opportunities in Real Estate
In case you want to pursue a career in real estate, here are a few options available:
Real Estate Agent – Sells and purchases property on behalf of clients.
Property Appraiser – Assesses property.
Building Inspector – Ensures all building standards are met and structures are safe.
Mortgage Specialist – Underwrites loans to potential homeowners.
Real Estate Lawyer – Deals with all legal issues pertaining to real estate.
The experts at Pranshi Infra Advisor are available to help you with valuable insights to help you invest right in real estate. Reach out to us now!
