Where cozy means tiny and charming means needs work.
The relationship status of a house that's been claimed but not yet closed, like being engaged but for property. Everyone holds their breath until closing, and there's always a chance someone gets cold feet.
The potential for future value appreciation or income growth in a property, typically based on improvements, market trends, or repositioning strategies. It's what optimistic investors see when everyone else sees a money pit.
The legal right to use and enjoy someone else's property without owning it, common in Louisiana and community property states. It's basically borrowing a house legally and permanently.
The actual floor space a tenant can occupy, excluding common areas like lobbies and hallways. In commercial leases, this differs from rentable square footage through a multiplier that ensures you pay for space you can't actually use.
Property owned free and clear without mortgages, liens, or other claims—the real estate equivalent of being debt-free and loving it. Either you're wealthy, you inherited well, or you've been paying your mortgage since the Reagan administration.
A person who owes more on their mortgage than their home is worth—financial drowning in suburbia.