- Refined features or materials that are offered by the builder for an extra charge. These features allow home buyers to upgrade materials or add personal touches to their home instead of using the base (economical) materials and features chosen by the builder.
improvements, advancements, amend
Related Terms and Acronyms
- Allowances — Definition,
- Money set aside by builders for amenities, such as driveways, landscaping, carpeting and fixtures, that are standard but have optional designs.
- Built-ins — Definition,
- Items, such as appliances and cabinets, that are permanently attached to a building.
- Custom Builder — Definition,
- A contractor that constructs or remodels houses based on plans submitted by the client.
- Field Changes — Definition,
- Modifications made to a building on-site.
- 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.
- Pre-sold Home — Definition,
- A house that is sold prior to construction as opposed to a house built on spec.
- Production Home — Definition,
- Homes that are mass produced as part of housing developments.
- 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 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.