Real Estate Matters with Tim Bro
Distinctions between a Condo, PUD, and Co-op
Condos: Walls, floors, and ceilings owned by all residents; HOA dues; covenants, conditions, and restrictions; value depends on the desirability of entire development.
Planned Unit Development (PUD): Individuals own structure and some land.
Co-op: Corporation made up of all tenants; larger units have more power in how building is run; fees for taxes, mortgage, repair, improvement; heavy scrutiny of financial, personal history.
Townhome: Not a form of ownership, but a term for an attached row house.
Advantages of each: Prices often lower than for single-family home; maintenance minimal or nonexistent; safety in “cluster” environment.
Considerations: HOA dues; CCRs may be complex.
To get started with your home sale or purchase, call Tim @ 858-354-2354, “The Right Choice in Real Estate”. BRE #01224576