Homebuilding Terms
builder-included feature
All KB homes come with many of the most popular builder-included features.
Builder-included features may include a specific style of cabinets, or a
specific type of countertop. KB homebuyers can personalize their home by
choosing from a range of colors for their standard features at no
additional cost.
easement
A right given to a third party to use a portion
of property for certain purposes, such as power
lines or water mains.
elevation
The exterior facade of a home, including the materials (like brick or stone)
used on that face. At KB Home, you get to choose from three or four different
elevations, or architectural styles, in addition to a selection of colors for
each of our plans. So the house you buy will look like your house, not
exactly like the one next door.
framing
The construction of the skeleton structure, or
framework, of a house.
floor plan
An architectural drawing showing the overall
layout of a home. The size and shape of each
room, as well as any optional configurations
of those rooms, are shown on the floorplan.
At KB Home, most of our communities offer several
plans from which to choose: single-story plans,
two-story plans, etc.
HOA (Homeowners Association)
In many new communities, an association of homeowners
is formed. The Homeowners Association is responsible
for enforcing the rules and regulations of
the community, and also for the maintenance
and upkeep of any common areas, including community
centers, swimming pools, health club facilities
and landscaping.
homesite
Each new community is divided into individual lots, or homesites.
In most KB Home communities, a homebuyer gets to choose their homesite
and the floor plan that suits them best, with some restrictions to
ensure a varied neighborhood. floorplan suitability for homesite
homesite premium
A premium paid by the buyer for a special, unique homesite that may
be either larger or in a more desirable location.
homeowner orientation
The Homeowner Orientation provides buyers with the opportunity to
become acquainted with their new home prior to moving in. During
the orientation, a KB Home Customer Service Representative provides
a thorough demonstration of the completed home (e.g., mechanical
components, appliances, etc.) and reviews items covered by
the warranty.
LID (Local Improvement District)
A Local Improvement District is an arrangement
between property owners in a specified neighborhood
(district) that provides for the funding of
improvements to that district. Improvements
can be to the roadway and drainage (i.e. paving,
adding curbs/gutters, or simply chip-sealing).
Or it can be for public utilities such as installing
a city sewer system. The LID fee is added to
your monthly mortgage payment.
master plan community
A large community, often with homes built by several
different builders, in a wide variety of prices.
Master plan communities usually include community
centers, pools and other recreational facilities.
Often there are commercial districts, offering
shopping and entertainment within the master plan.
Mello-Roos
A tax or charge imposed upon property owners
in certain new California communities, usually
to help cover costs for developing and maintaining
the infrastructure of the community (sidewalks,
sewage, landscaping, etc.).
option
All KB homes come with many of the most popular
standard features and buyers are able to select
colors or textures for many of these features.
In addition, KB homebuyers are able to personalize
their home to fit their unique lifestyle by
purchasing additional options such as appliances,
designer finishes on cabinets, countertops and floors,
fireplaces and a variety of other choices through the
KB Home Studio. This enables us to keep the price of
the home low while ensuring that you only pay for the
options that are truly important to you.
phase
A group of homesites within a community.
Most homebuilders sell all the lots within the
current phase before moving on to the next phase
of the community. The benefit to the homebuyer
is that construction activity is focused in one
small area at a time. So when you move in to
your new home, most of the construction for neighboring
homes will already be complete. Builders "release" a
new phase when the current phase is almost sold
out. This means that there is now a completely
new selection of lots, available for purchase.
plan
See floor plan.
reservation
A non-binding agreement to purchase a home at
a future date. Often, a reservation is taken
for a specific lot in an upcoming phase, giving
the buyer the first opportunity to purchase
that lot when the phase is released. A reservation
usually requires a deposit.
warranty
A plan to fix or repair specific items of
your home according to the warranty terms. At
KB HOME, we offer a 10-year limited warranty
that includes a 10-year structural warranty;
a two-year warranty on electrical components,
heating or cooling systems, and plumbing; and
a one-year warranty for all other components
of the home. All elements of the warranty are
reviewed with the homeowner at the time of the
walk-through.
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