Real Estate is a land with permanent improvements attached to it for instance homes, water, buildings, trees, minerals bridges and homes.
You can invest directly on real estate by renting a property or purchasing a home.
It is a form of real property that includes land and permanent attachments whether man made or natural.
Real estate have five categories industrial, residential, special use, raw land and commercial.
People do not know the difference between real property, land and real estate. These three are totally different and below are there differences.
Real estate is the land and any permanent properties such as buildings and houses. Land on the other hand is the solid part of the earth’s surface while real property is the interest, benefits and the ownership of real estate.
Physical characteristics of Real Estates
No parcel of land is exactly the same, they share same similarities but geographically different.
Some parts of land can be removed and topography changed but the geographic location can not be changed.
Land is permanent and durable
Economic characteristic of real estate
Location is one of the main economic characteristic of land, location refers to people’s tastes and choices at a certain area.
La d is considered rare but it’s total supply is fixed
This is any changes or additions to the land, improvements of a public nature is referred to as improvements to the land while improvement of a private nature is known as improvements on the land.
Now that you have known what real estate is you can buy one or hire one according to where you like. Before you rent any real estate property do a good research on the place.
Do not confuse real estate, land and property they are way much different, good enough you know the differences.