While the term real estate is familiar to most people, understanding the intricacies of what the term encompasses might be a different matter. Real estate is a type of property that can include different land, buildings, or both. It is a tangible asset that is owned or leased and depending on the nature of your lease or ownership, you’ll have certain rights to use and enjoy the land and its buildings. People purchase or lease real estate for different purposes including as a principal place of residence, a vacation home, an investment, commercial purposes and a rental property. Here we dive a little deeper into what real estate is, the different types of real estate and the benefits it offers. Types of Real Estate In general, there are three categories of real estate: Residential real estate can be single-family or multi-family dwellings that are owned or rented by individuals and include undeveloped land, houses, condominiums, and townhouses. Their sole intent is providing a
