There are many different types of properties and some can technically fit more than one category. Different classifications allow for different taxation rates and the creation of areas dedicated to specific activities.
It also allows individuals to make home or business investments that matter most to them. No matter what type of property an individual is seeking, it’s important to work with a real estate agent that specializes in the kind of property in which they’re interested.
The properties include farms, ranches, orchards and timberland. The properties are often called the “Greenbelt Exemption.” It includes owned and leased land.
A commercial property encompasses offices and business spaces, hotels, shopping malls, and entertainment facilities such as movie theaters. It also includes parking lots.
Sites that meet the designation of industrial are power plants, factories, manufacturing plants, and warehouses.
An increasing number of developers are creating mixed-use properties. They typically have business establishments on the bottom floor and are combined with residential elements on the upper floors, but can include other types of mixed usage.
Single family homes are traditional dwellings. They’re in high demand by families to buy and investors as rental properties. They offer good appreciation rates and represent the most expensive type of dwelling other than a luxury condo.
Condominiums can be located in low to high-rise structures. They’re favored by retired people and part-year residents, but also house year-round residents. Usually located near downtown areas. Each resident has their own abode and share amenities.
A townhouse residence is an interconnection of individual single-family dwellings that share one or more walls with other single-family homes. The homes are typically connected in a “row.”
Properties designated as residential also include apartments, cooperatives, planned units, converted-use that have been converted from its original use to residential, and manufactured housing.
This is a property category that includes schools and parks, cemeteries and churches. The special use designation also encompasses schools, government buildings and libraries.
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