Real estate is defined as land and any permanent structures, such as homes or improvements, attached to the land, whether natural or man-made
. It is a form of real property, which means it is something you own that is attached to a piece of land
. There are five main categories of real estate, including residential, commercial, industrial, raw land, and special use
Key aspects of real estate include:
Residential real estate: Property used for housing individuals, families, or groups of people, including single-family homes, apartments, condominiums, townhouses, and other living arrangements
Commercial real estate: Land and buildings used by businesses, such as shopping malls, individual stores, office buildings, parking lots, medical centers, and hotels
Industrial real estate: Property used for manufacturing, production, and warehousing, including factories, plants, and warehouses
Raw land: Undeveloped property and vacant land that can be used for various purposes, such as residential, commercial, or industrial development
Special use real estate: Property designated for specific purposes, such as schools, hospitals, or recreational facilities
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Looking good!!