Fair and square initiation into dwelling (8)
I believe the answer is:
handsome
'fair' is the definition.
(thesaurus)
'and square initiation into dwelling' is the wordplay.
'initiation' says to take the initial letters.
'into' is an insertion indicator.
'dwelling' becomes 'home' (synonyms).
The initial letter of 'square' is 's'.
'and'+'s'='ands'
'ands' going inside 'home' is 'HANDSOME'.
(Other definitions for handsome that I've seen before include "Good-looking, as a male say" , "Striking" , "'Good-looking, as a man might be (8)'" , "Attractive in a strong, imposing way" , "Fine-looking" .)