You might’ve told me already but small planes seem to have a myriad of rules attached to them, probably with good reason
I think my last post (while you were typing) might address this. Yes, there are a lot of rules (as in all aviation). As an example, my plane, Van's RV4 is built to do aerobatics. But, even after building it, getting the inspections, and flying off the requisite 25 (I think) hours necessary before you can venture away from home with it, you still cannot do aerobatics in it. It now has to be proven with all of the limits being tested! So, you are being a test pilot to determine if the +6 G rating of the kit, is still valid after the build. I just learned this. Lucky for me, this plane has been tested and is approved for aerobatics. (after a flight in another one last week, not so sure my stomach is approved for aerobatics but that is another story)
For those still with me, here is a link to an RV14 having its restrictions flown off. Luke Penner is from Winnipeg (Harvs Air) and very accomplished Aerobatics competitor and instructor. Steve (host of the Flightchops youtube (sorry @Susquatch ) channel and through sponsorships, and the success of his channel, has acquired an RV14. It was essentially built by members of the airplane museum in Windsor I think. I have only visited the one in Hamilton) Check out some of the video. I found it interesting that he had to force the plane into a 6G situation and it was hard to even get the plane to hit 6. I did less than 3 G's last week and wow! I had no idea. Glad someone else flew the limitations off for me! I would never do it! It is nice to see a Canadian success in both Flightchops and Luke Penner. Both seem like great guys.
Not sure my long winded blab answered your question. Home built simply means exactly that. But what it really means is that the builder has a lot of latitude to do what he wants. There are some basic inspections but basically, I can do what I want. A good inspection of a homebuilt is very important before buying. Most homebuilders use aircraft hardware and work to aircraft standards, but not all. Some build flyers, some build show planes, and some build junk. That is my take on it. But I have also seen that range in certified aircraft.