Research and knowledge serve as good companions during any major purchase. And few major purchases are as large or as meaningful and as long-lasting as a home purchase.
While general real estate knowledge helps any homebuyer feel more comfortable, some real estate terminology holds new-construction-specific nuances.
Here are some terms to understand. Be sure to ask the builders and lenders about these topics during the new-home seeking, buying and building processes.
Before exploring some California-specific terminology, let’s review some general, but related, terms.
CC&Rs: Often referred to as rules of a homeowners association (HOA), CCRs stand for the covenants, conditions and restrictions that a homeowner agrees to upon purchasing