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Thursday, April 30, 2015

Real Estate

REAL ESTATE This article is about the business of buying, selling, and renting real property. Real estate is "property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this (also) an item of real property; (more generally) buildings or housing in general. Also: the business of real estate; the profession of buying, selling, or renting land, buildings or housing. Residential real estate is a type of leased property, containing either a single family or multifamily structure that is available for occupation for non-business purposes. Residences can be classified by, if, and how they are connected to neighboring residences and land. Different types of housing tenure can be used for the same physical type. For example, connected residents might be owned by a single entity and leased out, or owned separately with an agreement covering the relationship between units and common areas and concerns. DEFINITION of 'Real Estate' Property comprised of land and the buildings on it as well as the natural resources of the land including uncultivated flora and fauna, farmed crops and livestock, water and minerals. Although media often refers to the "real estate market" from the perspective of residential living, real estate can be grouped into three broad categories based on its use: residential, commercial andindustrial. Examples of residential real estate include undeveloped land, houses, condominiums and townhomes; examples of commercial real estate are office buildings, warehouses and retail store buildings; and examples of industrial real estate are factories, mines and farms. Major Categories of Real Estate- 1. Apartment- An individual unit in a multi-unit building. The boundaries of the apartment are generally defined by a perimeter of locked or lockable doors. Often seen in multi-story apartment building. 2. Multi-family house-Often seen in multi-story detached buildings, where each floor is a separate apartment or unit. 3. Terraced house- A number of single or multi-unit buildings in a continuous row with shared walls and no intervening space. 4. Condominium-Building or complex, similar to apartments, owned by individuals. Common grounds and common areas within the complex are owned and shared jointly. There are townhouse or row house style condominiums as well. 5. Cooperative-A type of multiple ownership in which the residents of a multi-unit housing complex own shares in the cooperative corporation that owns the property, giving each resident the right to occupy a specific apartment or unit. 6. Semi-detached dwellings-(in UK, a "semi" is by definition two units with a party wall). 7. Duplex-Two units with one shared wall. (in UK, a duplex is an apartment on more than one storey). 8. Portable dwellings- Mobile homes, Houseboats, Tents. The size of an apartment or house can be described in square feet or meters. In the United States, this includes the area of "living space", excluding the garage and other non-living spaces. The "square meters" figure of a house in Europe may report the total area of the walls enclosing the home, thus including any attached garage and non-living spaces, which makes it important to inquire what kind of surface definition has been used. Investment Real Estate Unlike other investments, real estate is dramatically affected by the condition of the immediate area where the property is located, hence the well-known real-estate maxim, "location, location, location." With the exception of a national or global recession, real estate values are affected primarily by local factors such as the availability of jobs, crime rates, school quality and property taxes. Real Estate and Real Property Real estate is simply the land and any improvements on it. Renters and leaseholders may have rights to inhabit land or buildings that are considered a part of their personal estate but are not considered real estate. We are a small, personal team with a big reputation for friendly, professional service and high quality workmanship. There are a number of reasons to choose Building Elements, we aim to exceed your expectations of a builder and create a space that you’ll love, and that we’re proud to put our name to. We believe there are essential elements that you are looking for in a builder and fundamental principles that guide the way a great builder works with their clients. Our team has the skills and knowledge that come with years of experience, we have the ability to visualize what you are looking for and are able to share ideas to enable you to get the best possible result. Our quality workmanship and attention to detail sets us apart, we are constantly striving to create environments our clients love. We believe communication is the key to a successful building project, we make it a priority to develop a relationship with our customers from the very first meeting, and this enables us to understand your needs throughout your project. We understand that your project is a substantial financial investment, our goal is to help you get the most out of your budget, this is backed up with accurate quotes that ensure there are no nasty surprises.We’re up-front, honest and reliable, our approach to building and service is driven by the elements you are looking for in a builder – experience, skills, knowledge, professionalism, reliability and integrity.

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