Residential actual property owned and occupied by a person or household serves as a main residence. This might be a home, a condominium, or perhaps a cell residence on owned land. For instance, a household buying a townhouse to stay in is buying this sort of asset.
Proprietor-occupied residences play a major function in private finance and societal stability. They provide a way of safety and belonging, construct long-term wealth by means of fairness accumulation, and contribute to native communities. Traditionally, homeownership has been related to monetary stability and upward mobility. It usually represents the biggest single funding for people and households.
