The time has arrived, and you no longer want to make monthly rent payments to your landlord. You’re ready to buy a home of your own. Perhaps you’ve been saving your money or you started a new job with a higher income, and now you
are in the prime position to become a homeowner.
Before you buy a home, it’s recommended that you do your research. You want to avoid potential mistakes that could cost you time, money, and many headaches.
We’re here to introduce you to the concept of real estate and offer some advice that you will find quite helpful on your own path to owning a home.
What Is Real-Estate?
Real-Estate is the property as it is, including the land and the structure that’s built on it. This structure has to be permanently settled on the land to be considered part of its real estate.
The land could have none, one, or several structures in it, and all of them are considered part of its determined real-estate. All of the natural resources immovable on the property, such as water, plants or minerals, are also considered part of its
What World of Real Estate Entails
When we talk about real-estate, it goes way beyond just a property. Real-estate also refers to the people, processes, regulations, institutions, companies, government entities, and others; that act, develop, carry out plans, and interact with
each other to make all real estate transactions possible.
Regardless of whether you want to sell, buy, rent or be a tennant, you are playing a part in the real estate world. We recommend that you learn about all the real estate
concepts you might use in your own process, and more importantly, the terms and conditions of any contract you could possibly sign in a real estate transaction.
It goes without saying that you should never sign something you aren’t sure about. Ask as many questions as needed. It’s also essential to work with an experienced realtor, as they can explain to you anything you are unclear on and how it will
It doesn’t matter if you are going to rent, sell or buy, a realtor could help you to get it done properly. Just make sure your realtor is a licenced professional. They are specialists who can guide you, offer advice, and can negotiate better deals on
your behalf, in any type of real estate transaction.
How Real Estate Works
As we explained before, real estate is a piece of land with a structure in it, and this structure could be any size and serve many proposes.
You decided you want to buy a house and live in it with your family. However, there are many different types of real-estate and all have different uses.
Here are the main types of real estate:
Land Real Estate: This is only a piece of land with no structure built on it yet. With this purchase, you would only get the land with its natural resources.
The main advantage of buying land only is that you can build the home you want on top of it, as long as it complies with local regulations. It is very important to check those regulations before you buy the land.
Residential Real Estate: This type of real-estate is designed for living purposes only.
The residential real estate category includes houses, apartments, villas, townhouses, condominiums, and more. It doesn’t matter if you buy it to live in as your primary residence, rent it out, flip it for a profit, or use it as a vacation
Commercial Real Estate: This is real estate used for conducting business, including restaurants, movie theaters, shopping malls, supermarkets, doctor offices, and many other types of businesses.
Companies or individuals buy commercial real estate to lease it out to other businesses.
Industrial Real Estate: Industrial real estate includes buildings for factories, distribution centers, warehouses, and
There is a growing need for more industrial properties,
especially as more people are buying merchandise online
these days. Therefore, there is a greater need for warehouses
to store these goods and distribution centers to ship the
If you’d like to own your own real estate, contact BuyHouseEZ
to begin your journey to homeownership.