When you hear the word “real estate”, what comes to mind – selling land and housing properties? However, it’s quite absurd that most people think they need to have prior knowledge about the system to fully make the best of it. This is not entirely true.
There are real estate companies such as the Century 21 team that are set up to help you experience a personalized real estate service. With us, you do not necessarily need to understand how the system works to get the best services. All that’s needed for you as a potential home buyer or seller is to know the basics of the system. Hence the need for this article. Here we will be discussing with you all you need to know about real estate and how you can get the best real estate services in Binghamton, NY.
What is Real Estate?
Real estate is a property that consists of land, buildings, fixtures, utility systems, roads, and so on. It is otherwise known as real property which is different from personal property.
Generally speaking, real estate encompasses the physical surface of the land, what is permanently attached to it, as well as all ownership rights. This includes the right to own, sell, lease, and enjoy the land.
Classifications of Real Estate
Real estate is not restricted to lands only. There are other classifications that make up for what real estate is. Each with a specific purpose and utility. Here are some of the categories of real estate:
Residential properties consist of housing for individuals or families. This is the most popular type of real estate and it’s also the asset class of real estate that most people are accustomed to.
Residential properties do have sub-categories, such as:
- Single-family resident
- Multi-family resident
- Condominiums, and so on
Once the word real estate is mentioned, the first thing that comes to mind is properties which are land. This is because lands are the baseline for all types of real property. Land refers to vacant spaces and undeveloped properties.
Most times, developers acquire these vacant spaces and combine them with other real properties. This process is known as Assembly. After which they modify the land acquired, for it to increase in density and value.
These are lands and buildings that are used to carry our commercial operations. Such as shopping malls, parking lots, medical centers, hotels, and office buildings.
Industrial properties refer to land and buildings that are used for industrial purposes. Such as factories, construction sites, warehousing, transportation, mechanical productions, and the like.
Example of Real Estate Properties
Now that we have outlined the four types of real estate there are, let us take a look at some examples of real estate property:
- Single-family building – Designed for a family
- Multi-family building – A group of homes designed for more than one family
- Attached building – A housing unit that connected to another
- Condominium – A building with individual units
- Detached house – A typical home. A free-standing building that’s not connected to anything else
What’s the Importance of Having Real Estate Brokerage?
You’re probably planning to purchase a property and you’re thinking, do I need a broker? Can I save this brokerage money? These are most likely questions you’re putting a lot of thought into and that’s okay.
However, before deciding not to invest in the expertise of a real estate brokerage firm, here are a few reasons we have put together to help you think twice.
- A brokerage firm gives Attention to Details.
- Real estate brokers help you prepare the paperwork with their expertise and ensure that there are no mistakes in the transactions.
- They’ll help you with any legal factors you may need regarding home building and selling process among other things.
The Best Real Estate Company in Binghamton, NY
If you live in Binghamton, NY and you’re planning on purchasing a property, not to worry, Sbarra real estate services is here to give you the best services.
With our years of experience in the real estate sector, it’s safe to say that you’re in good hands. Our level of commitment to our work over the last 50 years has helped us land #1 on Western Pennsylvania.
We are the best real estate company in and around Binghamton, NY. Furthermore, we also offer a one-stop-shop service, meaning that we are also one of the Best Real Estate Brokerage in Binghamton.
Do contact us for any real estate services you may need in and around New York and you’ll be glad you did.
Believe it or not, real estate brokers will save you lots of money, time, and energy. Rather than trying to figure out the entire home buying and selling process, save yourself the stress and get help from a professional. Plus, it’s always a smart choice to take advice from people who are experts and have more experience than you probably do.