Residential Real Estate

Acquiring a residential property is the most important investment you can make. This is so because of two major reasons: 1) the property is a good source or passive income, 2) the value of the property increases over time, especially when it is located in a prime location.

Whether you are acquiring a property to live at or to rent, it is important know what you are putting your money at. With that in mind, we offer you here an insight on various types of residential properties.

Residential Neighborhood

Apartment is an individual housing unit in a multi-unit building which can either be owned or rent. An apartment property is cheaper to acquire and do not cost much to maintain. Renting it could be a lucrative income generator, especially if the property is located in a prime business area.

Condominium is a housing complex similar to that of an apartment, but what makes condominium different from apartment is that the former is owned, while latter is often just for rent. Living in a condominium offers a lot of advantages, such as 24-hour security. However as a financial investment, condominiums do not offer a good ROI on the long-term. This is so because of the condominium unit’s physical depreciation, long-term maintenance dues and real estate taxes, according to entrepreneur and Colayco Foundation for Education (CFE) chairman Francisco J. Colayco.

Duplex is one of the best investments you can make according to Jim Hart, a real estate and business consult at Smart Books Solutions. With a duplex, one can live on one side of the property, while generating an income on the other to help you pay the mortgage.

Mobile home is an excellent investment opportunity for low-income individuals and for those who tend to frequently transfer from one place to another. It can also be a good income generator for many are surely seeking for cheap housing, while building their dream home.