Terms with Category Real Estate
- Goods and Services Tax (GS, GST) — Acronym, Canada,
- A sales tax that applies in all Canadian provinces charged at 5% (as of 2012).
➥ Bank account transaction code. - Gross Living Area (GLA) — Acronym, Important,
- The gross above ground, finished living area in a property.
➥ Above ground total floor area of a home excluding porches and balconies. - Ground Rent — Definition,
- Amount a leaseholder pays periodically for use of land only.
- Guarantor — Definition,
- Someone who guarantees something.
- Half-bath (½ bth, hbh, ½ bath, ½ ba) — Abbreviation,
- A room that contains a toilet and sink, but no tub or shower.
- A bathroom with a toilet, a sink, and a bathtub or shower (usually a shower rather than a tub).
- A bathroom with a toilet and a sink.
- Harmonized Sales Tax (HST) — Acronym, Canada,
- A sales tax used in some provinces to merge the GST and PST.
➥ Canadian consumption tax. - Hectare — Definition,
- An area equal to 100 meters by 100 meters
- Heritage Conservation — Definition,
- Protecting historical and culturally important buildings, structures or environments like a park or garden.
- Historic Preservation (HP) — Acronym,
- A movement to protect buildings with historic value from destruction or extensive renovation.
- Historic Structure — Definition,
- Important structure significant to history
- Holdback — Definition,
- A dollar amount that is withheld by the lender during construction of a home to ensure construction is satisfactory at every stage. The amount of hold-back is typically equivalent to the estimated cost to complete the construction.
- Home Buyers' Plan (HBP) — Acronym, Canada, Very Important,
- A way for a homebuyer to use part of his or her RRSP as a down payment on a mortgage.
➥ Government assistance for first-time homebuyers. - Home Inspection — Definition,
- A thorough examination of a house's visible structural parts and systems, conducted before purchase.
- Home Inspector — Definition,
- A person who has a broad general knowledge relating to basic home construction, common household problems and methods for their correction.
- Home Office (HO) — Acronym,
- A part of your home or other structure on your property for which you qualify to take a deduction for its business use.
➥ Many mortgage and insurance brokers do work from home and utilize a home office. - Home Owners Warranty (HOW) — Acronym, Very Important,
- A policy that guarantees workmanship on construction of a home and functionality of some appliances, and which pays for repairs for a specified period.
- Home Warranty — Definition,
- A policy that guarantees workmanship on construction of a home and functionality of some appliances, and which pays for repairs for a specified period.
- Homeowners Insurance — Definition,
- A policy that includes hazard coverage, covering loss or damage to property and/or assets located within, as well as coverage for personal liability and theft.
- Homeowners Insurance Binder — Definition,
- A document accompanying a homeowner's insurance policy that verifies the property is properly insured.
- Homeowners' Association (HOA) — Company,
- An elected group that governs a subdivision or planned community. It collects fees from owners to maintain common areas and enforce covenants, conditions and restrictions set by the developer and the association itself.
- Housing Discrimination — Definition,
- The illegal practice of discriminating against buyers or renters of dwellings on the basis of race, colour, religion, national origin, sex, family status or disability.
- Illegal View — Definition,
- The existence of any exterior openings in a building which creates an illegal view of adjoining lands.
- Income Approach — Definition,
- A step in the valuation process of an income property. The value is reached by estimating the annual income minus an allowance for vacancies and bad debts and then subtracting annual operating expenses, real estate taxes, and insurance premiums to obtain the net operating income. This is then converted by capitalization into a capital value.
- Income Property — Definition,
- Real estate developed or improved to produce income. Also referred to as "non-owner occupied property" or "rental property."
- Index — Definition,
- A table of yields or interest rates being paid on debt (such as Treasury notes or bank deposits) that is used to determine interest-rate changes.
- Infrastructure — Definition,
- Basic installations that a community needs, such as schools, roads, water and electrical lines, power plants and communications systems.
- Inspection — Definition,
- A critically and carefully performed examination.
- Inspection Report — Definition,
- The documentation of a thorough examination of a house's visible structural parts and systems, conducted before purchase.
- Insurable Title — Definition,
- A title that can be insured.
- International Organization for Standardization (ISO) — Company Est. 1946, Geneva, Switzerland,
- An international organization created to promote standardization around the world.
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Goods and Services Tax -
Home Inspector
Home Inspector
