WHAT ARE THE 5 TYPES OF REAL ESTATE?
Real estate investment in California comprises various factors, and it can be a beneficial way to earn. If you are planning to enter the real estate sector, you need to understand the basic types of real estate in California. Once you understand them, you can easily analyze which type of property is best for you as per your budget and needs.
The term real estate means a physical or real property, like a home, office, man-made structure, natural land, and building. Also, real estate can then be defined as a property that can include a structure or land that has the rights that come with being the owner of it. Also, to purchase or sell a property in California, contact me.
TYPES OF REAL ESTATE
Now that you have some knowledge of real estate, it is now time to share knowledge of the basic types of real estate in California. Here are the basic types of real estate:
- Residential real estate property
- Industrial real estate property
- Commercial real estate property
- Vacant Land
- Mixed-Use real estate property
RESIDENTIAL REAL ESTATE PROPERTY
Residential real estate properties are the most popular type of property in California. As the name indicates, residential real estate properties are used for residential purposes, and they can be sold, rented, or bought for the same purpose.
INDUSTRIAL REAL ESTATE PROPERTY
One most of the common types of properties in California is industrial real estate property. This real estate type can be defined as a property that is used specifically for manufacturing, producing, packing, or storing goods (known as a warehouse). Industrial properties can also be used for the distribution of goods and research purposes, while they can co-exist with other industrial units.
COMMERCIAL REAL ESTATE PROPERTY
Commercial real estate property is the second most common type of property in California. This type of property is used for business purposes like shopping centers, malls, and even private firms. Any property that is used for generating income or profit falls under the category of commercial property.
Vacant land includes agricultural lands, lands for housing societies, and for commercial projects. Often these lands are used for income generation or sometimes for agricultural purposes.
MIXED-USE REAL ESTATE PROPERTY
Mixed-use real estate property is a type of property that serves more than one purpose. Just like Malls, apartments, condos, and big buildings. Many real estate properties in California have mixed purposes. If a property can be used for both residential and commercial purposes then it lies within the (Mixed-Use Real Estate Property) categories.
Real estate property can be used for both commercial and residential purposes. Due to this, real estate properties are categorized into different types. We have discussed 5 types of real estate property and came to know that all of these different types of properties have their purpose. However, residential and commercial real estate properties are the most common type of property in California. Lastly, if you are in search of your desired property in California then here is a search bar provided.