Introduction: 4 Common Types of Real Estate
Real estate has always been a popular investment for people. There are 4 common types of real estate. Real estate is versatile, can be used for residential or commercial purposes, and is a good long-term investment. In order to help you understand the different types of real estate options available, we have compiled this list of the most common types of real estate.
There are four major types of real estate: residential property, commercial property, industrial property and raw land.
Residential property is any type of home that can be used as a residence. In its most literal sense, it refers to homes that are offered for sale or rent as residential properties.
Examples of residential property include: apartments, townhouses, single family homes, villas.
Single Family Homes- 2 Bedroom Mansion for rent, Kshs 32,000, in Kamakis.
Commercial properties are typically office buildings or retail stores that are rented out to businesses in need of space to operate from.
Commercial buildings are designed for specific purposes, such as offices, retail stores, or warehouses. These buildings can be classified into two types: office buildings and retail buildings.
Office Buildings: Office buildings are used to provide space for offices and other commercial activities.
Retail Buildings: Retail stores are used to sell goods or offer services in a public space. Retailers need a lot of space for the storage of inventory and displays.
Industrial properties are generally factories where goods are manufactured on a large scale.
Raw land is not developed at all and consists mostly of unused land with no structures on it at all.
Factors to consider before investing in real estate.
Investing in a real estate is a long-term investment. Therefore, it is important to consider certain factors before investing in one. The following are the factors that you should consider before investing in a residential real estate:
– The type of real estate.
– The location of the property.
– The size of the property
– The price of the property
– Your financial situation and needs
We have discussed the different types of real estate properties in the market and what they offer. We have also discussed some of the factors that you should consider before investing in a property.
Investing in a property is always a difficult decision to make. There are so many factors to consider and it is important that you do your research before making any decisions. Real estate websites like Nyumbani offer a great start and I would highly recommend you starting there.