Home Building and Remodeling Glossary
 Construction, as do all trades, has a vernacular all its own. The following terms are commonly used in the construction business and you will almost certainly hear some or all of them as work on your new home progresses.
At Chesapeake Living Treasures we are always available to answer your questions, in layman's terms, and to explain any terms or concepts that you do not fully understand.
Allowance - the amount of
money a builder allocates for a particular item. If the item you select costs less,
you save; if it costs more, you pay the difference.
Appraisal - an estimate of
a home's fair market value based on the land, quality of construction, neighborhood, and
price of comparable homes in the area.
Bid - a proposal to work
on a project that should include an estimate of the price and a description of the work to
be performed.
Binder - a sum of money to
engage the services of a supplier or reserve a property or house until an agreement is
signed.
Blueprints - plans drawn
to scale, used by builders, plumbing, electrical, and other subcontractors in
construction. Blueprints include floor plans, elevations, a site plan, foundation
plan and wall sections, plumbing, electrical and mechanical plans, and construction
details.
Building Code - legal
requirements governing construction that are established and enforced by local government
to protect the public.
Certificate of Occupancy -
issued by a building inspector, this legal document certifies that a house has passed all
inspections and is ready to be inhabited.
Change Order - written
authorization to add, delete, or change an item in a contract, with any cost savings or
additions specified.
Contractor - sometimes
called the general contractor or the builder, this person or company is responsible for
the construction of a home, as well as negotiating with and overseeing the work of
subcontractors.
Covenant - also called a
deed of restriction, this agreement between seller and buyer of property restricts the use
of the property as to height, setback, or other restrictions on a new home or other
structures on the subject property.
Deed - legal document
confirming who owns a property.
Draw - scheduled payment
on a construction loan. Typically issued at selected construction milestones
throughout the building process.
Easement - a right given
by a landowner for a specific and limited use of the land.
Elevation - scale drawing
on a vertical plane of the exterior of a building.
Equity - the value of a
home and property over what is owed on the mortgage
Floor Plan - an
architectural drawing, drawn to scale, illustrating each floor and featuring the location
and size of rooms, windows, doors, walls, stairs, and fixtures.
Foundation - the structure
on which the building rests.
Grading - preparing the
site for a building as well as creating a slope around the completed structure for runoff.
Kiln Dried - a method of
drying the lumber to remove moisture which reduces shrinkage, twisting, splitting, or
checking of finished lumber.
Mortgage - a loan for land
and home that - along with interest - is paid off in installments. The property is
used as collateral and the borrower agrees to insure and maintain the property.
Permit - issued by a local
government agency, this document allows construction work to be executed according to
specified codes. The work is inspected periodically to ensure compliance.
Points - a one time charge
imposed by a lender at the closing of a loan. Each point equals one percent of the
loan.
Post and Beam Construction
- posts and beams, rather than walls and trusses as in conventional construction, support
the roof's weight.
Site Plan - lot and
building dimensions are shown on this illustration of the building site.
Subcontractor - the person
who agrees with the general contractor to perform a service such as excavate, landscape,
or install the plumbing or electrical system.
Warranty - protection a
builder or other supplier offers a homeowner covering workmanship and materials for a
specific period of time.
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