Monday, March 8, 2010

REAL ESTATE 101 GLOSSARY "H" - OAKVILLE HOMES




Half-bath Also called a powder room, a half-bath contains a toilet and a sink but no bathtub or shower stall.

Header
Crossbeams above windows and doors.

Hectare
The equivalent of 2.471 acres.

High density
The concentration of housing units in a specific area or on a specific property.

High-rise
Any building higher than six stories.

Hip roof
A pitched roof with sloping sides.

Home equity conversion mortgage
Loans made to older owners who want to convert equity into money. Because borrowers are qualified on the basis of the value of their home, e, the loan is not the same as a home equity loan. Also known as reverse mortgages.

Home equity loan
A loan that allows owners to borrow against the equity in their homes.

Home inspection
An examination of a home's construction, condition and internal systems by an inspector or contractor prior to purchase.

Home warranty
A type of insurance that covers repairs to certain parts of a house and some fixtures.

Homeowners' insurance
This insurance includes hazard coverage for any damages that may affect the value of a house, in addition to personal liability and theft coverage.

 Hopper window
A window that contains a single sash that tilts inward.

Hose bibb
A threaded faucet connection for devices such as a washing machine.

House wrap
A polyethylene barrier wrapped around a house to save energy.

Housing discrimination
The illegal practice of denying an individual or group the right to buy or rent a home based on race, color, religion, national origin, sex, disability or family status.

Housing expense ratio
The percentage of gross monthly income devoted to housing costs.

View My Website

No comments:

Post a Comment