Distinctions between a Condo, PUD, and Co-op

Real Estate

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

  

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