Real estate simply refers to properties that consist of land, a factor of production and all the buildings erected on it along with the natural resources which includes water, crops or minerals, immovable property of such nature. On the other hand, the business of real estates is a profession of buying or selling and even renting of housing or buildings or land.
The term real estate is legal and is constantly used in jurisdictions such as Canada, Nigeria, New Zealand, United Kingdom, Australia and United States of America.
Just to enlighten you on residential real estates in many of powerful states, housing tenure is the legal arrangement for a citizen to have a right to occupy a dwelling. There are many types of housing tenures which are in existence, this includes; tenancy, owner occupancy, condominiums, co-housing, squatting, public housing and the popular housing cooperatives. Usually, the total occupants of a residence constitute what we call household. Click here to read more about real estate and all of its terms.
Residence is classified on how they are connected to the neighbors and land. A number of housing tenures is normally used for the same physical type. A classic example is connected residence that is being owned by a single entity and is being leased out or is owned separately with a good arrangement which covers relationship between areas which are common and units and concern.
The size of a house is normally determined using square feet or meters. In United States, this is including the living space and excludes garages and other spaces which are nonliving. In Europe, the square meter figure of a building in Europe can easily report the total area of a wall enclosing home.
Real estate can be described by the total number of rooms in a building that has been erected in a piece of land. For more information do not hesitate to visit this website, LCRG USA.