Basic Types of Real Estate
There are four main types of real estate:
Residential real estate includes both new construction and resale homes. The most common types are single family homes. There are also condominiums, coops, townhouses, duplexes, triple-deckers, quadplexes, high-value homes, multi-storey and holiday homes.
Commercial real estate includes shopping centers and strip malls, medical and educational buildings, hotels and offices. Apartment buildings are often considered commercial, although they are used for housing. They are because they are the ones who generate income.
Industrial real estate includes manufacturing buildings and real estate, as well as warehouses. Buildings can be used for research, production, storage and distribution of goods. Some buildings that distribute goods are considered commercial real estate. It is important to categorize that zoning, construction and sales work is done differently.
Land includes vacant land, working farm and farmland. The vacant sub-subcategories include developed, rapid development or re-use, subdivision and site assembly.