allowance An amount of money or budget for items not feasibly or technically foreseeable and to be determined exactly at the time of signing of contract. Should the actual cost of the specific item be below the originally agreed on allowance amount the customer is due a credit; should the cost be greater, I&E Homes will invoice the customer the balance.

CBS construction CBS or Concrete Block System is the preferred and exclusive choice of construction method for the exterior walls of your I&E Homes home.

easement A right given to a third party to use a portion of property for certain purposes, such as power lines or water mains.

elevation The exterior face of a home. With certain home models, you get to choose different elevations, or architectural styles, in addition to a selection of colors for each of our plans. So the house you buy will look like your house, not the one next door.

framing Contrary to other builders, I&E Homes uses wood framing only for interior walls.

floor plan An architectural drawing showing the overall layout of a home. The approximate size and shape of each room, as well as some optional configurations of those rooms, are shown on the floor plan. At I&E Homes, our plans can be modified with your individual changes and additions. Additional charges might apply.

HOA (Homeowners Association) In many new communities, an association of homeowners is formed. The Homeowners Association is responsible for enforcing the rules and regulations of the community, and also for the maintenance and upkeep of any common areas, including community centers, swimming pools, health club facilities and landscaping.

homesite See lot, below.

lot premium A charge paid by the buyer of a special lot that is either larger or in a more desirable location than the other home sites in the community.

lot The individual plot of land your new I&E Homes home is being constructed on. Can be either in a gated community (also see “master planned community”) or not.

option An item in a home that is not a standard feature. I&E Homes offers certain items or features, for an additional charge, that help personalize your home to fit your lifestyle. Options can range from fireplaces and appliances to pre-wiring and room configurations. If you can dream it we can do it! Also see upgrade.

phase A group of home sites within a community. Most homebuilders sell all the lots within the current phase before moving on to the next phase of the community. The benefit to the homebuyer is that construction activity is focused in one small area at a time. So when you move in to your new home, most of the construction for neighboring homes will already be complete. Builders "release" a new phase when the current phase is almost sold out. This means that there is now a completely new selection of lots, available for purchase.

plan See floor plan.

punch list A written list of items which need to be fixed, repaired or replaced. The punch list is in most cases completed after closing and does therefore not halt the closing process

reservation A non-binding agreement to purchase a home at a future date. Often, a reservation is taken for a specific lot in an upcoming phase, giving the buyer the first opportunity to purchase that lot when the phase is released. A reservation requires a deposit.

roof trusses Pre engineered framework of profiles for the skeleton structure of the roof system

standard feature A specific item that is automatically included when you purchase a new home. Standard features may include a specific style of cabinets, or a specific type of countertops. I&E Homes homebuyers can personalize their home by choosing from a range of no-cost colors for their standard features.

upgrade Often a homebuyer can choose to upgrade to a higher level of material or style in several areas of their home (e.g., granite countertops instead of Corian® or hardwood floors instead of carpet) at an additional cost. At I&E Homes, homebuyers can choose from upgrades to truly personalize their home. Again, if you can dream it we can do it!

walk-through A buyer's final inspection of a newly built home prior to move-in. At I&E Homes, the walk-through includes an orientation with instructions on how to maintain certain items in the new home.

warranty All I&E Homes homes carry a 1 year limited warranty and a lifetime warranty on “hidden defects”. I&E Homes is also approved with the leading warranty insurance program in the industry and can offer this as an option (add. charges apply) to our new homeowners. I&E Homes covers any and all warranty claims which we are required to by law, FL Statue Ch.489. We pride ourselves in being extremely reasonable and very lenient in recognizing and resolving claims.