Real estate terms and definitions
Real estate industry is one of the most growing industries in the world, providing more opportunities by opening new avenues of success. If you want to accomplish a name in real estate market, it is important to know about the basic glossary used in this particular industry. Brushing up the glossary knowledge will help you to understand the real estate news in a better manner. Let us take up a look on the following important terms:
Amenity: It is an additional feature of the home or that may benefit the buyer such as its natural location, woods, swimming pool or garden.
Amortization: It is process of repayment of a mortgage loan in monthly installments that include principal and interest.
Annual Percentage Rate (APR): It is calculated by using a formula. Usually, the APR defines the cost of a loan; taking the yearly interest rate, insurance cost and other fees in consideration.