In the real estate market, it is quite common for a house and land to be advertised as part of a package deal. In other words, potential owners will be presented with a price that includes both the physical structure and the portion of land that it is located upon. The sizes of land (and the house) can vary dramatically. For example, it is not uncommon in urban environments for a standalone house to sit on no more than a few hundred meters (or much less) of land. On the contrary, rural locations may offer homes that are accompanied by hectares of additional property. It should be obvious that larger plots of land will equate to a higher overall purchase price.
Homeowners frequently require land that offers the right for further construction. This may be due to a desire to extend the dimensions of a house sometime in the future or the need to build additional and separate structures on a different part of the property. It is for this reason that many prospective buyers will enquire as to whether there are any existing building rights when considering a purchase. A parcel of land with building rights will inevitably be more valuable than one without.
So, it should come as no great surprise that the combination of a house and land is by far one of the most common types of real estate on the market. During economic booms, such an opportunity proves to be one of the most attractive real estate offers available.