Rehabbing Glossary For Real Estate Investors

Rehabbing can be quite complicated and so is the language. From describing bearing wall, insulation and roofing methods to deciding on a cornice or crown molding, if you don’t know the lingo you could be left in the dark.
By: Navtaj Chandhoke
 
 
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Dec. 27, 2010 - PRLog -- | www.preigCanada.com | www.WorldWealthBuilders.com | Vancouver|

Rehabbing can be quite complicated and so is the language. From describing bearing wall, insulation and roofing methods to deciding on a cornice or crown molding, if you don’t know the lingo you could be left in the dark. Here’s some basic Rehabbing Glossary for your convenience and understanding..

It is quite important that being a Professional Real Estate Investor, you will come across these terms one way the other” says Navtaj Chandhoke, founder, Professional Real Estate Investors Group (PREIG) Canada. Once you have heard the term it does not sound that you have never heard of this terminology.

Anchor bolts- Bolts to secure a wooden sill plate to concrete, or masonry floor or wall.

Architect - One who has completed a course of study in building and design, and is licensed by the state as an architect. One who draws up plans.

Astragal: A molding, attached to one of a pair of swinging double doors, against which the other door strikes.

Attic access: An opening that is placed in the dry walled ceiling of a home providing access to the attic.

Attic Ventilators :In houses, screened openings provided to ventilate an attic space.

Backfill : The replacement of excavated earth into a trench around or against a basement /crawl space foundation wall.

Balusters- Vertical members in a railing used between a top rail and bottom rail or the stair treads. Sometimes referred to as 'pickets' or 'spindles'.

Balustrade: The rail, posts and vertical balusters along the edge of a stairway or elevated walkway.

Barge- : Horizontal beam rafter that supports shorter rafters.

Barge board: A decorative board covering the projecting rafter (fly rafter) of the gable end. At the cornice, this member is a fascia board.

Base or baseboard: A trim board placed against the wall around the room next to the floor.

Basement window inserts: The window frame and glass unit that is installed in the window buck.

Bearing wall: a structural wall that supports the load above it (such as a roof or floor system).

Brown coat: coat of stucco that’s troweled over the primary or scratch coat. Its primary purpose is to provide a smooth surface for the finish coat.

Casing: the frame which surrounds a door.

Chase- A framed enclosed space around a flue pipe or a channel in a wall, or through a ceiling for something to lie in or pass through.

Chink : To install fiberglass insulation around all exterior door and window frames, wall corners, and small gaps in the exterior wall.

Chip Board- A manufactured wood panel made out of 1"- 2" wood chips and glue. Often used as a substitute for plywood in the exterior wall and roof sheathing. Also called OSB (Oriented Strand Board) or wafer board.

Caulking: a seal for seams and joints against weather and insects. Caulking can also be used to fill gaps before painting.

Centre bearing wall: a structural wall that is normally built along the centre of a building. It supports the weight of the above floor system.

Chase: to allow for pipes and ducts, a chase is a grove cut into a wall or floor.

Construction Contract:  A legal document which specifies the what-when-where-how-how much and by whom in a construction project. A good construction contract will include:

            1.   The contractor’s registration number.
            2.   A statement of work quality such as 'Standard Practices of the Trades' or 'according to Manufacturers Specifications'.
            3.   A set of Blue Prints or Plans
            4.   A construction timetable including starting and completion dates.
            5.   A set of Specifications
            6.   A Fixed Price for the work, or a Time and Materials formula.
            7.   A Payment Schedule.
            8.   Any Allowances.
            9.   A clause which outlines how any disputes will be resolved.
            10.   A written Warrantee.

Corner bead: used to protect the corners of external plastered walls, a corner bead is a strip of metal or wood.

Cornice: horizontal trim where the roof and wall meet. A cornice is strictly decorative and made of stucco, plastic, metal or wood.

Crown molding: trim placed over the corner formed where the wall meets the ceiling.

Drywall: used for interior walls, drywall is made of plasterboard or gypsum board and used in place of wet plaster.

Finish coat: the third and final coat of stucco. The finish coat may or may not contain pigment. If it doesn’t, it will need to be painted. The term if also used generically for any final coat placed on a surface.

Floor trusses: unlike joists, floor trusses allow heating, plumbing and electrical material to run inside them rather than below. Trusses are generally deeper and more expensive then joists.

Footing: sits on soil and is the base for the structure and supports all of its weight.

Foundation: usually made of block, concrete or treated lumber, the foundation sits on the footing and supports the floor system.

Grade beam: unlike a footing, a grade beam is supported by columns underneath it rather than sit directly on the soil.

Load-bearing wall: a support wall capable of bearing weight.

Moisture barrier: treated paper that is used to keep moisture from seeping into floors or walls.

Molding: decorative strip often used to mask gaps where walls meet.

Mortar: mixture of cement, sand and water that is used to bond bricks together.

Non-bearing wall: a wall that is used to section off rooms or for privacy and does not support any load above it.

Plan: usually provided by an architect, a plan is a series of diagrams that depict a particular project from different views. There are five main views.

1.   A floor plan gives you a bird’s eye view assuming the roof has been taken off. It shows walls and fixtures such as stairs and doorways. The floor plan may also give you dimensions.
2.   A section view is basically a dissection of the building. If you imagine a home sliced in half vertically so that you can see what’s inside, you have a section view.
3.   A detail view is a blow-up of a particular part of a section view and gives a better idea of how pieces fit. If you’ve ever assembled furniture using instructions, the detail view shows you what screw to use and how to insert it.
4.   A plot plan shows the structure and the entire lot that surrounds it.
5.   The elevation view is just that: the building from the outside at eye-level.

Plaster: made from concrete, water and sand.

Plate: a support structure used to hold studs in place.

Plywood: is made up of an odd-number of layers (each layer is called a “ply”) that are glued together.

Post-and-beam construction: foundation or wall that are constructed from posts and beams rather than smaller studs. To keep the posts vertical, diagonal supports are used.

Pressure-treated lumber: chemically treated wood to make it more moisture resistant.

Rough-in: construction done for any electrical/plumbing work needed. Rough-ins are hidden by a wall, floor or ceiling.


Shingles: overlapping outer covering of roofs or an external wall.

Struts: beam or piece of wood used to keep two others apart at equal distance; thereby giving them more strength.


Stucco: an exterior finish that is hard and concrete-like.

Studs: vertical beams placed 16 or 24 inches apart to which horizontal pieces are nailed.

Studs give strength to the wall and provide a solid background for nailing in other pieces.

Tongue-and-groove: type of joint or edge where one piece has a long “tongue” that fits in the “groove” of an adjoining piece. Its main purpose is for strength.

Weeping  holes: small holes that allow water to drain to the outside of a foundation wall.

Zoning : A governmental process and specification which limits the use of a property e.g. single family use, high rise residential use, industrial use, etc. Zoning laws may limit where you can locate a structure. Also see building codes.

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Navtaj Chandhoke is a Canadian-based real estate investor, speaker, author, educator and the founder of World Wealth Builders, leading RE investors education,mentoring, support and network of over 4545+ Canadian investors.
www.WorldWealthBuilders.com | www.preigCanada.com |
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Source:Navtaj Chandhoke
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