Property, of course, is anything and everything that can be owned. Real estate property, explicitly, is defined as land and all of the geological and man-made upgrades that are permanently associated and attached to it. This includes not only the geosphere itself and all that is connected to it, but the air above it and the minerals below it as well as all rights associated therewith. All property not categorized as real estate is personal property.
With the ownership of real estate comes not only the possession of the physical property and the characteristics that define it, but also the acquisition of certain legal rights to continuously enjoy the peaceful utilization and redistribution of it. What that means is that when we gain ownership of real estate property, we also earn an accompanying collection of rights in the property. These rights relate to the use, possession, control, enjoyment, exclusion, and distribution of the property, including the right to pass ownership along by way of a will. Collectively, these rights change the definition of real estate to real property.
Over the course of time, the ownership and control of real estate has very much become a central part of our lives. We rely on real property to feed, clothe and provide us with shelter. In the United States and other highly developed countries, these basic needs are met in a number of ways. As a result of the many technological inventions that have advanced our living standards, people are no longer directly dependent on owning land to meet their essential needs. Instead, we rent or own apartments or houses that are serviced by utility companies and financed by lending institutions. We work in office buildings, factories and shops and purchase the products and services we need from stores, play in parks and consume the meat and crops that comes to us from distant farms and ranches.
Many people now have the financial means to proceed beyond the use of real estate for the purpose of supplying their basic essentials. Now it is increasingly possible and desirable for individuals to purchase real estate as an investment, a wealth creator, and a depository of value that can effectively convert the results of their properly directed work efforts into a tangible, profitable asset.
A real estate investment can be described as the commitment of financial resources for the purpose of preserving and increasing capital and earning a profit. Most everybody makes investments of various kinds throughout their lives. We put our time, energy and money into educating ourselves and our children, buying cars, obtaining health care, accumulating savings and pursuing other ventures in search of gaining a better quality of life.
Frequently, making an investment also involves the setting aside for a while some present comforts in anticipation of earning future benefits. Forgoing instant gratification, while unpleasant, often is necessary in order to sufficiently accumulate the savings needed to acquire real estate property. Moreover, money isnít the only component typically applied to a real estate investment. Oneís time and effort,, referred to as sweat equity, can also be very much involved.
Yes, the resources necessary to reap the intended rewards from real estate investing in terms of money, time and effort must be budgeted and planned in advance, for they surely will be over and above what are needed for securing oneís life necessities. However, those rewards can be substantial, indeed. To best optimize the use of oneís limited resources when investing in real estate, I enthusiastically recommend that one acquire and carefully apply the expert instruction included in an essential how-to guide like Real Estate Investing available from JuJamVideoReview.com. Be sure to check it out!