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

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

  • Paulette Edwards
  • 04/19/22

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Condos: Walls, floors, and ceilings owned by all residents; HOA dues; covenants, conditions, and restrictions; value depends on the desirability of the 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 the 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 are often lower than for single-family homes; maintenance minimal or nonexistent; safety in a “cluster” environment.

Disadvantages: HOA dues; CCRs may be complex.

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  • The ME Team

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