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Definitions

Understanding these key terms will help you get the most out of this guide.

Purchase Agreement​

The purchase agreement and its addenda constitute the legal understanding regarding the purchase of your new home from Classic Homes, setting out the price, terms, and obligations of both buyer and builder. Reviewing and signing it is typically the first formal appointment in the new-home process and usually takes place at the model home. See Purchase Agreement in Purchasing Your Home for full detail.

Addenda​

Addenda (singular: addendum) are supplemental documents attached to the purchase agreement that, together with the main agreement, constitute the full legal understanding of your home purchase. Because they are part of the binding legal agreement, read all attachments as carefully as the purchase agreement itself. See Addenda in Purchasing Your Home for full detail.

Underwriting​

Underwriting is the stage of arranging your loan in which the lender evaluates your financial information and the details of the home to determine whether, and on what terms, to approve financing. It is one of the buyer's responsibilities to complete in a timely manner, since financing must be finalized before construction milestones and closing can proceed on schedule. See Underwriting in Purchasing Your Home for full detail.

Loan Lock​

A loan lock (or rate lock) is a commitment from your lender to hold a specific mortgage interest rate for a defined period of time, protecting you from rate increases between application and closing. Locking your rate is part of finalizing the financing details that must be in place before your home can close. See Rate Lock in Purchasing Your Home for full detail.

Closing Disclosure​

A closing disclosure is the document that itemizes the final loan terms, monthly payment, and the closing costs and fees associated with your mortgage. It is a key document buyers review in the lead-up to closing on their home. See Closing Disclosure in Closing on Your Home for full detail.

Earnest Money​

Earnest money is a good-faith deposit made by the buyer when entering into a purchase agreement, demonstrating serious intent to complete the purchase. It is typically held in escrow and applied toward the purchase price or closing costs when the transaction closes. See Earnest Money in Purchasing Your Home for full detail.

New Homeowner Orientation​

The New Homeowner Orientation (NHO) is an introductory webinar, held online and lasting about an hour, that Classic Homes provides to new buyers near the start of their journey. It helps orient homeowners to the steps, meetings, and expectations of the home-building process. It is one of several planned appointments scheduled between the builder and each home buyer.

Design Selections​

Design selections are the appointments — typically two to three sessions of about two hours each — during which you personalize your new home by choosing from available features, finishes, and colors. The first appointment is usually virtual and later ones take place at the Design Studio. Making your selections on time is an important buyer responsibility, since these choices must be finalized before certain construction tasks can proceed. See Your Home Design for full detail.

Design Studio​

The Design Studio is the dedicated showroom where Classic Homes buyers personalize their new home, selecting available features, finishes, and colors with the help of a design specialist. Design selection appointments are typically held here (with an initial appointment often conducted virtually). The Design Studio team is one of the groups your Sales Specialist will introduce you to at the appropriate stage of the build. See Design Studio in Your Home Design for full detail.

Low Voltage​

Low voltage refers to the home's low-power wiring used for systems such as data networking, telephone, security, audio, and smart-home devices, as distinct from standard household electrical power. Buyers select their low-voltage (low-volt) options at a dedicated appointment, which for Classic Homes takes place with HomeRun Electronics and typically lasts one to two hours. See Low Volt in Your Home Design for full detail.

Home Review​

The Home Review is an appointment, typically lasting one to two hours, at which you go over your home's blueprints and selected options with the Classic Homes team. It is usually held at the model home and may take place virtually at your request. Reviewing the plans and options together helps confirm that your choices are correctly captured before the home is built.

Home Start Conference​

The Home Start Conference is a meeting held near the beginning of construction at which the builder and buyer review the home's plans and specifications one final time before building proceeds. It is one of several planned construction-stage meetings and helps ensure everyone agrees on the details of the home before work moves forward. See Home Start Conference in Construction of Your Home for full detail.

Pre-Drywall Inspection​

The Pre-Drywall Inspection (PDI) is an appointment, typically lasting one to two hours and held at your new home, where you tour the house as the rough mechanical stage is completed — just before insulation and drywall are installed. Because the framing, wiring, and plumbing are still exposed, this is your opportunity to see the structure and systems behind the walls before they are covered. The visit may be conducted virtually at your request. See Pre-Drywall Inspection in Construction of Your Home for full detail.

Rough Mechanical Stage​

The rough mechanical stage is the phase of construction in which the home's mechanical systems — such as electrical wiring, plumbing, and HVAC ductwork — are roughed in within the open framing, before insulation and drywall enclose the walls. This stage is significant because it is when the Pre-Drywall Inspection takes place, giving the homeowner a chance to view the home's structure and systems while they are still visible. See Construction of Your Home for full detail.

New Home Presentation​

The New Home Presentation (NHP) is your opportunity to review the home with your Builder as it nears completion, walking the exterior and interior together to inspect quality and address any concerns. For Classic Homes it is a thorough appointment lasting roughly two to three hours, held at your new home (and possibly virtually at your request). It functions as a quality inspection before the home is finished and delivered. See New Home Presentation in Construction of Your Home for full detail.

Welcome Home Orientation​

The Welcome Home Orientation is an appointment — typically held on closing day and lasting one to two hours — at which Classic Homes demonstrates the features of your new home, discusses applicable maintenance and warranty details, and confirms that the home has been delivered at the promised quality level with your selections correctly installed. It is your introduction to living in and caring for your finished home. See Welcome Home Orientation in Closing on Your Home for full detail.

Blueprints​

Blueprints are the detailed architectural drawings and plans that define the layout, dimensions, and specifications of your home. Buyers review their blueprints and selected options together with the Classic Homes team at the Home Review appointment, which helps confirm that the plans accurately reflect the home and selections before construction proceeds.

Floorplans​

Floorplans (floor plans) are the predesigned home layouts that a builder offers, showing how rooms and living spaces are arranged within the home. Classic Homes designs its floorplans, features, and communities to fit different stages of life, so buyers can choose a plan that suits the way they live before personalizing it through design selections. See Floor Plan in Your Home Design for full detail.

Model Home​

A model home is a completed, often furnished example home that a builder maintains so prospective and current buyers can experience its floorplans, finishes, and quality in person. For Classic Homes, several appointments — such as signing the purchase agreement and the Home Review — take place at the model home, and the models also set the quality standard the builder confirms it has met when delivering your finished home.

Trade Contractor​

A trade contractor (also called a trade professional or trade partner, and sometimes a subcontractor) is a specialized company or worker the builder partners with to perform a particular part of the construction, such as plumbing, electrical, framing, or HVAC. Classic Homes works with skilled trade professionals to build its homes, and notes that some questions may require input from a trade contractor or supplier, which can affect how quickly a final answer is available. See Trade Contractor / Trade Partner in Construction of Your Home for full detail.

Homeowner Portal​

The homeowner portal is Classic Homes' online account system (at myhome.classichomes.com) where homeowners can manage their account and submit and track requests, including warranty service requests. It serves as the primary self-service channel for handling tasks related to your home after move-in.

Service Request​

A service request is the formal way a homeowner asks the builder to address a warranty or maintenance item in their home. Classic Homes homeowners submit service requests through the homeowner portal, which routes the request for warranty service. This is the standard procedure for warranty matters that fall outside the builder's routine scheduled contacts during the warranty period.

Eliant​

Eliant is a third-party, independent customer-satisfaction survey organization that Classic Homes uses to gather homeowner feedback after move-in. Homeowners receive three surveys by email — about one month, six months, and one year after closing — covering the overall new-home process, warranty service, and the quality of materials. Because Eliant is independent of the builder, it provides a neutral channel for candid feedback that supports the builder's continuous improvement.

Sales Specialist​

The Sales Specialist is your main point of contact at Classic Homes throughout the purchase and construction of your home. They guide you through the early stages and introduce you to the other team members — such as your Builder and the Design Studio and Closing teams — at the appropriate times, along with the best ways and times to reach each of them.

Community Developer​

A community developer plans and creates the neighborhoods in which homes are built — laying out streets, lots, parks, and amenities and shaping the overall character of an area — rather than only constructing individual houses. Classic Homes describes itself as both a hometown builder and a community developer in the Colorado Springs and greater Pikes Peak region, reflecting its role in planning whole neighborhoods around access to the outdoors, convenience, and a sense of community.