Home next to new pub (3)
I believe the answer is:
inn
'pub' is the definition.
(an inn is a type of pub)
'home next to new' is the wordplay.
'home' becomes 'in' ('he's home' can mean 'he's in').
'next to' means one lot of letters go next to another.
'new' becomes 'n' (common abbreviation eg NT for New Testament).
'in'+'n'='INN'
(Other definitions for inn that I've seen before include "Hotel or public house" , "watering hole" , "Small hotel or country pub" , "watering-hole" , "place to stay" .)