Condo, PUD, Co-op: What's the Difference?

Real Estate

Condo, PUD, Co-op: What do these mean?

Many of our clients ask what these mean. See below and feel free to contact me if you have any questions.

  • 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.

Contact me if you have any questions.