Compared to some investment assets, residential real estate properties focus on personal use rather than commercial. There are several categories of residential real estate, including connected/multi-unit residences, semi-detached residences, single-family detached homes, and portable residences. Connected/multi-unit residences include apartments, condominiums, and multi-family homes. An apartment is a single unit included in a multi-unit complex, with a condominium being similar. The common areas built inside the complex are occupied and possessed together. A multi-family house is usually viewed as a multi-story structure with separate units.
A duplex is one example of a semi-detached residence where two units are divided with one wall. However, a single-family detached residence is an independent residential property all together. Examples of portable residences include mobile homes, and houseboats. Mobile homes can function as a full-time residence, but are capable of being moved if and when needed. The point is, there are a variety of different residential real estate forms that can be invested in, and it’s important to know that even as you hone in on the area of real estate that interests you, like residential, it’s still important to look even further into the details to determine which asset within that area is best for your needs as an investor.