Real estate or real property on the other hand, out of our own wits, had already existed earlier than the renaissance period. This is believed to have fallen under the concept of the feudal system. Tenants would usually pay taxes to the king may it be in a form of cash, goods or the harvest itself. The term was already popularly used even during that era. The real estate industry has paved a long way through the tides of time wherein it underwent through a lot of changes and revisions and then back to the same stuff. It is pretty much surprising to know how this particular industry braved through its ups and downs. Nevertheless, it was able to achieve all that stunning success despite all the negating circumstances.

In these recent times, the real estate industry has even gained more popularity. This is not just a term that can be associated with the feudal system and the king. It is far beyond that. The term now deals more with some legal aspects and huge investments. To date, the real estate business is among the blossoming industries all over the world. This would usually entail hefty amount of investments, huge capitals and big gains.

Getting into the real estate business is no-joke stuff. There are many things that you have to consider and you should make yourself capable of learning. First up, you should be able to acquaint yourself with legalities that may be involved. There are terms that you should at least be familiar with. For example, housing tenure, this term would usually refer to the right to occupy a certain place of abode. Bear in mind that there are also different types of housing tenure and they are as follows:

1. Owner occupancy – in which the owner himself/herself is the one occupying a certain place of dwelling.

2. Tenancy – A tenant or a lessee is the one occupying in representation of the true owner.

3. Condominium- This is usually a whole property which is subdivided in to different units for ownership.

There are also other types of housing tenure that you may have to deal with along the way. These are just some of the basic types. The classification of household ownership may also be in reference to the neighboring lands. Take note that the different types of housing tenures can also be owned even by a single entity regardless if it’s more than one unit. All throughout North America and Europe, there are actually 4 major categories of housing. It can be attached or multi-unit, semi-detached such as duplex, detached or single family residences or portables ones such as house boats, mobile homes and even tents. Remember that these major categories would greatly vary as you traverse through different continents though somehow, there would be slight similarities in it. Talking about its market, residential properties have accounted for most of the cost amounting up to almost $48 trillion dollars. That leads to real estate being 54% of most individuals’ assets.

Author Bio: William Jake Fischer is a writer who shares information on Uruguay Real Estate and property in Uruguay as well as other real estate services.

Category: Real Estate
Keywords: real estate,real estate information,invest real estate