Half-bath

A half-bath, also known as a powder room, is a bathroom that contains only a toilet and a sink, but no bathtub or shower stall.  Half-baths are popular as an accommodation for guests who do not need a full bathroom with a bathtub or shower.  Commonly, half-baths are located on the main living level of a home, where guests are most likely to congregate.  The term "powder room" originated the notion that a half-bath, with a sink and mirror, was useful for female guests to take advantage of when they needed to "powder their noses," a euphemism for reapplying makeup and/or using the toilet.

Hazard insurance

Hazard insurance is one provision of a homeowners insurance policy.  Hazard insurance covers damage to a property that is caused by fire, wind, or other natural disaster. Hazard insurance is required to be obtained by a buyer of real estate by all lending institutions before a loan is approved.  This is so that lenders are protected against a default on loan payment by a borrower who has suffered a severe or total loss of his or her property.  Policy coverage for hazards varies among insurance providers, but is typically very restrictive in terms of how the disaster to the property was caused.

Header

A header is one of a series of crossbeams that are located above windows and doors in a house or other building.  The header runs horizontally across the top of a window or door frame.   A header is made of multiple pieces of lender; the ends rest upon a short stud that Is fastened to a full-length stud.  Headers are often composed of laminated veneer lumber, or other "engineered lumber," a glue and wood composite that offers greater stiffness and strength than ordinary dimension lumber.  Headers are a necessary structural part of a window or door frame, but may also have a decorative element.

Heat pump

A heat pump is an electric cooling and heating system.  A heat pump operates by moving heat from a low temperature heat source to a higher temperature area known as a "heat sink."  The operation essentially involves transporting heat, or energy, from a cool area to a warm area, which requires a pumping mechanism because heat naturally flows from warmer areas to cooler areas.  In addition to heating and/or cooling systems in a home, a heat pump is commonly utilized for purposes of refrigeration, plumbing (as for heated swimming pools and home water heaters), and water fountains.

Hectare

A hectare is a land measure that is the equivalent of 2.471 acres, or 10,000 square meters.  The hectare is not commonly used in the United States, but is used to measure land in Canada and a number of other foreign countries.  In addition to being used as a unit of measurement for residential and business lots of land, the hectare is regularly used to measure land areas in agriculture and forestry, and is also applied by town planning committees in lieu of square meters, the numerical values of which for an equivalent parcel of land would be larger and more cumbersome.

High density

The term high density refers to a high concentration of housing units in a specific area or on a specific property.  High density housing is useful and desired by some municipal and county planning authorities as it allows for residential units to be concentrated in one main area, with remaining land being utilized for public projects such as stores, retail, parks, and the like.  In addition, high density residences are common in large, older cities, such as New York City, Boston, and Chicago, where land area is scarce but demand for housing is high.  Some home buyers avoid high density areas because they are often associated with smaller homes and/or reduced lot sizes.

High-rise

A high-rise is a tall building, often categorized as any building that is higher than six stories; most engineers, inspectors, and architects define a high-rise as any building exceeding 75 feet in height. High-rises are most commonly used to accommodate offices, apartments, or condominiums; particularly tall high-rises are referred to as "skyscrapers."  Because of their height, high-rises require particularly sound, solid structural systems, and usually are constructed of reinforced concrete and steel.  High-rises offer the advantage of providing added space for housing or business within a limited footprint, or horizontal land area, because the space is distributed vertically among floors. 

Hip roof

A hip roof is a pitched roof with all four sides sloping up from the edge of the roof.  Hip roofs are commonly found on homes that are built in Arts & Crafts style, Classical Revival style, Federal style, Georgian Revival style, Greek Revival style, Italianate style, Neoclassical style, Prairie style, and Renaissance Revival style.  Hip roofs are popular for their aesthetic appearance, but are more likely to leak than other styles of roofs due to their hip and valley characteristics.  In addition, hip roofs tend to provide for less ventilation than other roof designs. 

Historic preservation

Historic preservation refers to the physical rehabilitation of a historic home or building.  The United States Historic Preservation Movement began in the 1960s as an effort to preserve and protect landmarks and urban neighborhoods.  Much historic preservation is accomplished by or through a private, non-profit organization called the National Trust for Historic Preservation, which provides leadership, education, advocacy, and resources for the purpose of revitalizing or rehabilitating historic structures.  Both the United States as a nation and individual states, based on their respective criteria, designate particular structures or neighborhoods as "historic" and offer monetary and other resources to the preservation of such projects.

Historic structure

A historic structure is a home or building that is listed in the National Register of Historic Places and certified as historic by the United States Secretary of the Interior through the National Parks Service, which is a division of the Department of the Interior.  The National Historic Preservation Act of 1966 authorized the creation of the National Register.  To qualify as a historic structure, certain criteria must be met by a property, such as association with events that have made a significant historical contribution; association with significant historical persons; embodiment of distinctive characteristics of a type, period, or method of construction, or that represent particular artistic values; or production of information of historical importance.

Home equity conversion mortgage

A home equity conversion mortgage is a type of reverse mortgage.  A home equity conversion mortgage involves a loan that is made to an older home owner who wishes to convert equity in a property into money. Borrowers of home equity conversion mortgages are qualified on the basis of the value of their home, so this type of loan is not the same as a home equity loan.  Besides direct equity in a home, other factors that are considered in the process of an application for a home equity conversion loan include the age of the property, the appraised value, current market interest rates for comparable homes, the size of the home, and the location of the property.

Home equity loan

A home equity loan is a loan that allows a home owner to borrow against the equity in his or her home.  The existing equity in the home is used as collateral for the loan.  Home equity loans are often used for financing of major home repairs, or may be applied to any other purpose, not necessarily house-related, such as medical bills or educational expenses.  A home equity loan is usually a second-priority loan, which means that repayment of a primary mortgage takes precedence over repayment of a home equity loan.  The usual requirements for qualification of a home equity loan include good to excellent credit history and a reasonable loan-to-value ratio.

Home inspection

A home inspection is an examination of a home's construction, condition, and internal systems by an professional inspector or contractor, usually called a Home Inspector.  A home inspection is conducted by a buyer of a parcel of real estate prior to his or her purchase of the property.  Home inspections are not always required, but are always recommended to ensure the property is in good condition structurally, mechanically, electrically, and otherwise, including information regarding any potential safety hazards in a structure.  Many contracts for real estate transactions will include a provision that makes the buyer´s purchase of a property conditional on a satisfactory home inspection.

Home rule

Home rule refers to the power of a local government, such as a city or county government, to adopt its own land-use regulations.  Also called devolution, home rule includes powers granted from the Federal government or from the government of a particular state by statute allowing local governments to make their own decisions regarding the most appropriate land use for a particular area.  The reasoning behind home rule is that local governing authorities are in the best position to know what the specific circumstances of a particular area are, and are better able to determine how to regulate land use under those specific circumstances than would be a more centralized government authority.

Home warranty

A home warranty is a type of insurance that covers repairs to certain parts of a house and the repair and maintenance of some fixtures.  A home warranty is useful to cover sudden, unexpected, and potentially expensive breakdowns of a home´s heating mechanism, air conditioning, appliances, electrical system, or plumbing system.  Home warranty service usually includes a specified guarantee on parts and labor to ensure repairs are done correctly and that the same problem will not recur.  If some aspect of a home that is covered by a home warranty is not able to be fixed, the home warranty company will usually provide for replacement of an equal or comparable substitute item.

Homeowners' association

A homeowner´s association is a group that governs subdivision or planned community.  A homeowner´s association (abbreviated HOA) typically consists of elected or appointed homeowners from the given neighborhood, who may hold their positions for a specified time or indefinitely, depending upon the HOA.  HOAs usually collect fees from homeowners in the community, often monthly but sometimes annually or biannually, in order to pay for maintenance of common areas, handle legal and safety issues in the community, and to enforce any pertinent neighborhood covenants, restrictions, or conditions imposed upon homeowners by the developer of the neighborhood.

Homeowners' insurance

Homeowners´ insurance is an insurance policy that protects owners of homes against events and occurrences that have the potential to damage a home or its value.  Homeowners´ insurance policies typically include hazard coverage for any damages that may affect the value of a house, such as fires, storms, or other natural conditions, and also offer some level of personal liability and theft coverage.  Homeowners´ insurance policies are usually required for borrowers to secure before a lending institution will issue a mortgage for a purchase of property to the borrower.  Flood insurance is normally not included in a regular homeowners´ insurance policy, and coverage must be purchased separately.

Homeowners' warranty

A homeowners´ warranty is a special insurance policy that covers certain home repairs for a specified amount of time.  Homeowners´ warranties are usually secured by home owners in addition to regular homeowners´ insurance, in order to ensure coverage of items not covered by traditional homeowners´ insurance.  For example, while a homeowners´ insurance policy would be likely to cover, in some circumstances, hail damage to a roof, it would probably not cover peeling paint on a home´s exterior; a homeowners´ warranty may be secured for the coverage of things like periodic repainting of the exterior.  Homeowners´ warranties are separate coverage plans, and are payable separately from standard homeowners´ insurance.

Homesteading

Homesteading refers to documentation that is designed to protect some of a home owner's equity in his or her home from lawsuits.  Homesteading is intended to ensure that in the event that a home owner becomes plagued by debt, he or she will be able to shield some or all of the equity in his or her home from creditors.  In order to take advantage of homesteading, a home owner must file a homesteading document with the county recorder in the county in which the home is located (or other applicable public records authority). 

Hopper window

A hopper window is a window that contains a single sash that tilts inward.  A hopper window is normally hinged at the bottom, so that the top of the window swings in.  Hopper windows are a popular choice for basement windows, allowing for ventilation by air being let in from the outside to the basement interior.  A  hopper window may also be installed for ventilation anywhere in a house, usually above a door or a window, where it is sheltered by eaves to allow for air to come into a home´s interior while keeping debris out.

Hose bibb

A hose bibb is a threaded faucet connection for devices such as a washing machine.  Water flow inside a hose bibb is controlled by a type of washer, which is a flat ring or a perforated piece of rubber or metal that tightens a joint in order to prevent potential leakage.  Sometimes, a washer will wear out, in which case the hose bib may leak.  Hose bibs are either "male" or "female."  Male hose bibs have threads on the exterior; female hose bibs are threaded on the interior.  Male and female hose bibbs can be used individually or in conjunction with each other for the connection of a washing machine or other water-consumptive appliance to a home´s water source.

House wrap

A house wrap is a polyethylene barrier that is wrapped around a house in order to save energy by increasing efficiency.  The barrier provides added insulation to a house, discouraging a transfer of heat through a home´s walls between the home´s interior and the exterior elements.  House wrap is weather resistant, and is applied around the outside walls of a house prior to the application of exterior brick or siding.  House wrap allows moisture to escape but sheds outside water.  House wrap is usually installed during construction on a new home, but may be applied subsequently to increase energy efficiency in an older home.

Housing discrimination

Housing discrimination refers to the illegal practice of denying an individual or a group the right to buy or rent a home based the individual´s or group´s race, color, religion, national origin, sex, disability, or family status.  Laws against housing discrimination are enforced by all levels of government-local, state, and federal-with the main authority prohibiting such discrimination being the United States Department of Housing and Urban Development, or HUD.  HUD allows for persons and groups who feel they have been the victims of housing discrimination to bring lawsuits against the discriminating parties.

Housing expense ratio

A housing expense ratio is the percentage of an individual´s gross monthly income that is devoted to housing costs.  This ratio is used by many homeowners in determining an appropriate budget for themselves and their families, given that housing is a necessary expense that must be regularly paid, usually monthly.  In addition, a housing expense ratio can help lending institutions and charitable organizations in their evaluation of a person´s application for a loan or a grant related to their housing costs.  The ratio will change with increases and decreases in income, with the allocation of resources over time, and with the changes associated with interest rates on a home mortgage.

HUD-1 Uniform Settlement Statement

A HUD-1 Uniform Settlement Statement is a closing statement or settlement sheet that outlines all closing costs related to a real estate transaction or refinancing of a property.  The HUD-1 Uniform Settlement Statement includes a complete financial picture of the sale and purchase of a parcel of real property, including information such as the charges levied by a lending institution, fees charged by a title company, and any applicable governmental recording fees.  Many of the items listed on a HUD-1 Uniform Settlement Statement can be helpful to a home seller in the context of capital gains taxes, as certain fees can be deducted from the sale price of a property to reduce the profit realized thereon.