Real estate is property consisting of ground and the buildings on it, along with its natural resources such as crops, natural resources or water; fixed property of this nature; an interest vested in this (also) an item of actual property, (more generally) buildings or housing in common. Also: the business of real estate; the profession of buying, advertising, or renting land, buildings or housing. It is a legal term used in jurisdictions such as the United States, United Kingdom, India, Pakistan, Canada, New Zealand and Australia.
- Residential real estate
Residential real estate is a kind of property, containing either a single family or multifamily structure that is available for occupation for non-business purpose.
Residences may be classified by, if, and how they are connected to neighboring residences and land. Diverse types of housing tenure can be used for the same physical type. For example, connected residents can be owned by a single entity and leased out, or owned separately with an agreement covering the relationship between units and ordinary areas and concerns.
- Main categories in North America and Europe
- Attached / multi-unit dwellings
- Residence (American English) or Flat (British English) – An individual unit in a multi-unit building. The boundaries of the apartment are usually defined by a perimeter of locked or lockable doors. Often seen in multi-story apartment building.
- Multi-family home– Often seen in multi-story detached buildings, where each floor is a separate apartment or unit.
- Terraced home(a. k. a. townhouse or rowhouse) – A number of single or multi-unit buildings in a continuous row through shared walls and no dominant space.
- Condominium– Building or complex, similar to apartments, owned by individuals. Common ground and common areas within the complex are owned and shared jointly. There are townhouse or rowhouse style condominiums as well.
- Supportive (a. k. a. co-op) – A type of multiple ownership in which the residents of a multiunit housing complex own shares in the cooperative company that owns the property, giving each resident the right to occupy a specific residence or unit.
- Duplex– Two units with one shared wall.
- Single-family detached home
- Portable dwellings
- Mobile houses– Potentially a full-time residence which can be (might not in practice be) changeable on wheels.
- Houseboats– A floating house
- Tents– Usually very temporary, with roof and walls consisting only of fabric-like material.
The size of a residence or house can be described in square feet or meters. In the United States, this contains the area of living space, excluding the garage and other non-living spaces. The square meters figure of a house in Europe might report the total area of the walls enclosing the home, thus including any attached garage and non-living spaces, which makes it significant to inquire what kind of surface definition has beenused.
It may be described more roughly by the number of rooms. A studio apartment has a single bedroom with no living room. A single-bedroom apartment has a living or dining room separate from the bedroom. Two bedroom, three bedroom, and larger units are common.