Chapter 1: What is Real Estate?
IN THIS LESSON
Alright, let’s break this down in a fun way!
Imagine playing a video game like Minecraft or Roblox. You’ve probably built houses, cities, or even entire worlds in these games, right? Well, in real life, real estate is kind of like that, except people buy, sell, and live in the things they build!
So, what exactly is ‘real estate’?
Real estate is any land or buildings on that land, like houses, stores, schools, or even parks! It’s what people use to live, work, and play. If it’s land or something built on land, it’s real estate. Just like in Minecraft, where you can claim a piece of land and build something amazing on it, people in real life do the same thing. They buy land and decide what they want to do with it — build a house, open a shop, or even start a farm!
Types of Real Estate
Now let’s dive into the different types of real estate, kind of like picking different levels or maps in your favorite game. Real estate isn’t just houses! It’s split into a few main types:
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This is where people live. Think of your home or your friend’s house. Apartments, condos, townhomes, and even mansions all count as residential real estate. It’s basically anywhere you can sleep, eat snacks, and binge-watch your favorite shows!
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Imagine the places you love to go — like a mall, your favorite pizza place, or even a movie theater. All of these are commercial real estate because people use these buildings to run businesses. In Roblox, it’s like setting up a store in Bloxburg and charging people for awesome things you create.
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Sometimes, people buy a piece of land without anything built on it. It’s like starting a fresh new game in Minecraft with an empty plot. They might want to build something in the future, or maybe they use it for farming. Think wide-open spaces, like parks or fields, waiting for someone to build or grow something cool!
Why is Real Estate Cool?
So, in real life, real estate is like owning your very own piece of the world. Just like how you’d design and build something awesome in a video game, people in real life do that too with homes, stores, and even entire cities. And guess what? When you understand how real estate works, you can even learn how to make money from it in the future!
That’s just the beginning. In the next lesson, we’ll learn why real estate is super important and how people use it to create the world around us! Ready to explore more? Let’s go! 🚀
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