- Money set aside by builders for amenities or services such as driveways, landscaping, carpeting, and fixtures. These amenities are usually standard, but they can have optional designs.
- An amount of something that is permitted or within guidelines.
Related Terms and Acronyms
- Builder Upgrades — Definition,
- Refined features or materials that a builder offers for an extra charge.
- Custom Builder — Definition,
- A contractor that constructs or remodels houses based on plans submitted by the client.
- Fixture — Definition,
- Personal property that becomes real property when it is attached to a building. Examples include chandeliers, built-in bookcases and cabinets and drapery rods.
- Semi-custom Home — Definition,
- A house in which the buyer cannot alter the layout, but can specify amenities such as type of cabinets and floor coverings.
- Speculation Builder — Definition,
- A developer that builds houses without a commitment from a purchaser.
- Speculation Home — Definition,
- A house built before a buyer has been found, on the assumption that one will be found.
- Upgrades — Definition,
- Options that allow buyers of newly built houses to select higher-quality floor coverings, cabinets, windows and other amenities for more money.