Residential Real Estate
What Is Residential Real Estate?
Residential real estate in Sandton, South Africa, is developed for people to live on. It can’t be used for commercial or industrial purposes. Laws can vary by location and can determine how many buildings are allowed on a block and the kinds of municipal services that can reach those buildings.
Residential real estate areas can encompass different varieties of potential dwellings from houses to even houseboats. Neighborhoods also range from poor areas to rich areas. Residential real estate happens when land sanctioned for residential use is then purchased by somebody and it becomes real property. Residential real estate can often be the most important investment a person owns and the value of the property is subject to shifts in the market. Some people will purchase property with the hopes of selling it and making money or leasing it to others and charging rent. Some people purchase property just to live on it. Residential real estate is usually financed with a mortgage.