Niche real estate
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A niche is a specialized sector of the property market. Examples include income property, garden real estate, condos, equestrian property, vacation property, farm property, golf property, golf course redevelopment, waterfront homes, beach houses and luxury homes. These are often categories in which potential buyers think about the property they seek. They are also used by real estate marketing companies to reach these types of buyers. In this context a niche describes a specific segment of home buyers and sellers, classified by ethnicity, nationality or socio-economic group (e.g. social housing or luxury real estate).
Types of Niche Real Estate
Income properties are bought for the purpose of making an income or profit through renting or leasing. These properties can be commercial or residential. Residential properties are also known as "non-owner occupied" and these types are considered to involve a higher risk, and a mortgage for it may carry a higher interest rate than a mortgage for ’’owner-occupied’’ income property.
Garden Real Estate
Garden real estates include a significant garden design that contributes to the overall value of the property. These properties originate in three different ways: gardens that are designed by prominent landscapers, gardens that were designed by architects or professional landscapers, and gardens that were designed by the previous owner.
Golf properties include residential properties and communities surrounding golf courses. The value of these properties may increase through being near well established golf courses.
Condominiums are individually-owned single housing units in a multi-unit building. The owner of a unit pays property taxes on his unit and may rent, mortgage, or sell the unit just like any other type of personal property. Condominiums can be residential or commercial, such as office condominiums.
Equestrian or Farm Properties
Equestrian properties, also called "horse communities," are facilitated communities where nearby facilities and trails cater to the needs of all types of horses and horse owners. Stables and open areas may be either shared or private with a resident staff. Hangars, fueling stations, and maintenance facilities may also be incorporated into the equestrian community. Farm property is an area of land that includes arable land used for growing crops together with home and surrounding facilities used for keeping animals and maintenance.
Vacation and Luxury Property
Vacation properties can be separated into smaller segments of the market defined by season of occupancy, locale and associated activity. Vacation property can be owned or rented by vacationers through agencies, and it usually includes beachfront condominiums, lakeside fishing retreats, mountain cottages, etc.
Waterfront homes sit near a body of water such as a river, lake, ocean or canal. Water frontage is likely to boost the value of homes and make them worth more than double of the value of homes overall.
Beach house is a property located on a beach or within a mile from a beach. It can be used for either residential or vacation purposes. Luxury homes are unique and exclusive properties. There is no exact size, style, and design that embodies a luxury home, but homes with a storied history, extraordinary views, remarkable architecture, or beautiful interior and exterior design can also be included in the category of luxury homes.
- "Types of Niche Real Estate". Villaway. Villaway Inc. Retrieved 2 March 2018.