Residential Property Fun Facts
Sure, moving is an exciting idea. But, before anything else, you may need to read these residential property fun facts first.
What qualifies as residential property?
Residential property is property zoned specifically for living or dwelling for individuals or households. It may include standalone single-family dwellings to large, multi-unit apartment buildings.
How do you value residential properties?
The only way to value residential property is to look at the selling prices of what estate agents and surveyors call comparables (similar properties that have recently sold). Properties that are currently on the market are not comparables.
What is a residential income property?
Income properties, on the most basic level, are assets that produce a revenue stream for real estate investors. In the context of residential income properties, this usually comes in the form of monthly rent payments from tenants.
What are the types of residential property?
Residential real estate includes both new construction and resale homes. The most common category is single-family homes. There are also condominiums, co-ops, townhouses, duplexes, triple-deckers, quadplexes, high-value homes, multi-generational and vacation homes.