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The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. SHARE: karamysh/Getty Images October 20, 2022 Mia Taylor is a contributor to Bankrate and an award-winning journalist who has two decades of experience and worked as a staff reporter or contributor for some of the nation's leading newspapers and websites including The Atlanta Journal-Constitution, the San Diego Union-Tribune, TheStreet, MSN and Credit.com. Michele Petry is a senior editor for Bankrate, leading the site’s real estate content. Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. Bankrate logo The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Buying or selling a home is one of the biggest financial decisions an individual will ever make. Our real estate reporters and editors focus on educating consumers about this life-changing transaction and how to navigate the complex and ever-changing housing market. From finding an agent to closing and beyond, our goal is to help you feel confident that you're making the best, and smartest, real estate deal possible. Bankrate logo Editorial integrity
Bankrate follows a strict , so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers. Editorial Independence
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Property used for residential purposes — that is, developed specifically as a place for people to live — is the most common type of . Residential areas are typically defined by local zoning ordinances and cannot be used for commercial or industrial purposes. Zoning laws vary by location and sometimes restrict the amount of buildings permitted or what kinds of municipal services may be provided to them. What is residential real estate
Residential real estate is property (both land and buildings) used for housing. This is in contrast to commercial or industrial real estate, where the land and buildings are zoned for operating a business, such as a store, an office or a factory. Purchasing residential real estate is often the largest and most important financial investment a person makes in their lifetime. Its value is determined by many factors, including size and location, and is subject to . Some individuals as a money-making venture, either by flipping it for a profit or renting it out to tenants. But most people simply live on their property. Types of residential real estate
Residential real estate encompasses various , from single-family houses to apartments. Deciding which type of housing is right for you comes down to budget, family needs and location, among other factors. Common types include: Single-family homes: The typical suburban house is a : a stand-alone residential structure that usually sits on its own land. These are single units meant for one occupant or family; they are not divided up into multiple units. Townhouses: Housing units that stand side by side, with shared walls separating one from the next, are known as (or townhomes, or row houses). This type of housing unit is typically individually owned and has multiple levels. Condominiums: Condominiums (condos for short) are privately owned units that are often located inside a large building or within a community of other such units. They are typically . The community of condo owners jointly owns and maintains any shared areas within their community, such as lobbies, hallways and elevators. In some cases, this may also include shared amenities like a gym, a pool or a parking garage. Residential real estate comes in many different as well. A few popular examples are single-story ; , which are typically square with covered front porches; and highly embellished, ornamental . Residential real estate vs other types of real estate
Residential real estate is for living in. It is typically zoned for housing and nothing else, meaning no large business ventures can be based there. Commercial or industrial real estate, on the other hand, can be used to operate businesses designed to generate revenue, such as retail stores, offices or factories. is often designated as such by local zoning laws and allows for a far broader range of buildings and activities than residential property. The common theme, though, is that buildings in commercial-zoned areas must house businesses, not residential structures. Find a trusted real estate agent
If you’re hoping to — meaning you’re in the market for some residential real estate — it’s a good idea to work with an experienced local . An agent who knows your area well can help you find homes that meet your needs and navigate the purchase process effectively. Asking friends and relatives for referrals can be a good starting point. Be sure to to find the one who’s the best fit for you. SHARE: Mia Taylor is a contributor to Bankrate and an award-winning journalist who has two decades of experience and worked as a staff reporter or contributor for some of the nation's leading newspapers and websites including The Atlanta Journal-Constitution, the San Diego Union-Tribune, TheStreet, MSN and Credit.com. Michele Petry is a senior editor for Bankrate, leading the site’s real estate content. Related Articles