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Definitions (199)
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face brick
Visible brickwork on the outside or inside of your home.
Meaning awaits approval from a moderator |
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grano
Concrete flooring or ‘hardstand’ in the garage. It is usually poured 1 course of bricks lower (-1c) to restrict water flowing into the home should there be a freak flood or water mains accident.
Meaning awaits approval from a moderator |
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addenda
From the word Addendum, meaning ‘Something added’. This document provides all specifications and inclusions for your home. This also includes all colour and product selections chosen at Prestart.
Meaning awaits approval from a moderator |
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additional payments
These are any extra funds paid into the loan over and above your initial contract price. Generally issued via provisional sums or variations.
Meaning awaits approval from a moderator |
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adjustments
Amount of property taxes, council and water rates prepaid by the seller and adjusted at settlement for amounts that the purchaser will be liable.
Meaning awaits approval from a moderator |
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amortisation period
The time taken to reduce the value of the debt through payment of regular instalments until a loan has been paid off in full. Payments are calculated to pay off your debt by a specific date.
Meaning awaits approval from a moderator |
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annual fee
Any fee that is charged on an annual (yearly) basis. Common example is the annual administration fee to the borrowed amount of your mortgage. This will vary depending on the loan or the Bank.
Meaning awaits approval from a moderator |
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appreciation
Increase in the value of financial assets (property) which is in addition to the asset's depreciable cost. The increase is due to economic and other factors.
Meaning awaits approval from a moderator |
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architrave
A decorative moulding around doors or windows.
Meaning awaits approval from a moderator |
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area construction manager
Responsible for the managing and supervising construction of homes in an area/location (suburb) and managing a dedicated team of supervisors.
Meaning awaits approval from a moderator |
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