Easement:
A right given to a third party to use a portion of property for certain purposes, such as power lines or water mains.

S.E.E.R Rating:
S.E.E.R. stands for Seasonal Energy Efficiency Ratio and refers to the efficiency of the heating or cooling units in a home. The higher the rating the more efficient the unit.

Post-tension Foundation:
A foundation that uses cables to reinforce the concrete. These cables are stressed shortly after the foundation is placed.

Elevation:
The exterior face of a home, including the materials (like brick or stone) used on that face. In most cases builders will let you choose from 3 or 4 different elevations, or architectural styles, in addition to a selection of colors (stucco, fascia, trim) for each of our plans. So the house you buy will look like your house, not the one next door.

Framing:
The construction of the skeleton structure, or framework, of a house.

Floorplan:
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. Builders usually offer several different plans in a particular community to suit different needs.

HOA (Homeowners Association):
In many new communities, an association of all the homeowners is formed. This 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. A monthly fee is paid by all homeowners in the community to pay for the activities of the HOA. This fee varies from community to community, and can be from $30 to over $200 per month, depending on the extent of the community's common areas.

Lot Premium:
A charge paid by the buyer of a special lot that is either larger or in a more desirable location than the other home sites in the community.

Lot:
Each new community is divided into individual lots, or home sites. A homebuyer gets to choose the specific lot that they¡MC˜
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Master Plan Community:
A large community, with homes built by several different builders, at a wide variety of price ranges. Master plan communities usually include community centers, pools, and other recreational facilities. Often, there are commercial districts with 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 (e.g., sidewalks, sewage, landscaping, etc.).

Option:
An item in a home that is not a standard feature. Options can be purchased at the KB Home Studio to help personalize your home to fit your lifestyle. Options can range from fireplaces and appliances to pre-wiring and room configurations. See Upgrade.

Phase:
A group of lots 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, which are available for purchase.

Punch List:
A written list of items which need to be fixed, repaired or replaced prior to the final walk-through.

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.

Standard Feature:
A specific item that is automatically included when you purchase a new home. Standard features may include a specific style of cabinets, or a specific type of countertops. Homebuyers can personalize their home with choices of no-cost colors for their standard features.

Upgrade:
Often, a homebuyer can choose to upgrade to a higher-level of material or style in several areas of their home. Most builders have design centers where homebuyers can choose from thousands of upgrades to truly personalize their home.

Walk-through:
A buyer's final inspection of a newly-built home prior to move-in. The walk-through includes an orientation with instructions on how to maintain certain items in the new home, as well as a review of the ten-year limited warranty coverage. A home buyers uses a punch list to record the items need to be fixed before during the inspection.

Warranty:
A promise to fix or repair any damage to specific items of your home. Many builders offer a ten-year limited warranty that includes a ten-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. A sample copy of warranty book is usually provided after signing the contract.