What is a PUD?
According to the American Planning Association, most PUDs focus on integrating existing natural features like a wetland or a nature preserve with new development. Many PUDs, but not all, are urban or suburban.
What are the drawbacks of a PUD?
One drawback for developers is the length of time it takes and the more complicated processes in place to get PUD approval from the local jurisdiction, because standard zoning and rules about subdivisions don’t apply.
Who owns the land in a PUD?
In a PUD, the owner of the property owns the land the house sits on, similar to a single-family home. Additionally, a homeowner’s association association (HOA) typically owns the common areas of the community. These areas might include things like a park, pool, clubhouse, playground, or recreational area.
How to determine if a property is a PUD or condo?
You should not rely on the appearance of a property to determine if it is a PUD or condo. A way that is used to determine the property type is by reviewing the CC&Rs and a subdivision/condo project map.
What is the primary purpose of a PUD?
The purpose of a PUD is generally to allow greater flexibility in the configuration of buildings and/or uses on a site than is allowed in standard zoning ordinances.
What is a unique feature of planned unit development?
PUDs, (planned unit development) are a unique feature in real estate. With PUDs you own your own home and property, plus, you can enjoy shared amenity perks similar to a condo complex such as pools, green spaces, or recreation facilities.
What is the advantage of a planned unit development?
Potential benefits of a PUD include more efficient site design, preservation of amenities such as open space, lower costs for street construction and utility extension for the developer and lower maintenance costs for the municipality.
Which of the following is an advantage of living in a PUD?
Pros. Private amenities. PUDs can offer more private amenities and common ground than a typical HOA, such as grocery stores, restaurants, privately owned roads and more. Other amenities could include parks, swimming pools and workout facilities.
What is the difference between condos and other forms of development?
Look for land ownership differences: The primary difference between a condo and other forms of development is the ownership of the land. Condo : An owner of a condo “unit” owns their dwelling but not the land it’s built on. In fact, condo owners typically don’t even own the walls, just the surface of them.
Is a townhome a plat?
Townhomes (common-wall or zero-lot-line homes) can be recorded as a condominium , a regular plat, or a PUD. It is also common in urban areas to see a residential lot short platted into several separate lots with a townhouse on each lot and perhaps a shared driveway. Townhome short plats include specific language about maintenance of the shared elements.
What is a PUD?
Planned unit developments (PUDs) are mixed-use communities with homes, retail, green space, light industry and amenities like swimming pools and bike paths. PUD housing can be single-family homes, townhouses, condos, or a mix. Typically the communities have a homeowner’s association (HOA) or similar governing body.
What are the rules of a PUD?
Since a PUD has a homeowner’s association or other community living arrangement, residents have to pay annual or monthly dues and are subject to the rules of that association or face fines. PUDs may require permission to change the exterior of the property, determine whether or not you can park on the street, limit holiday decorations or even dictate what pets you may own, if any. If potential homeowners are looking for a multi-use neighborhood so they can give up their cars, this may not be possible because of a typical lack of public transportation.
What are the pros and cons of PUDs?
The greatest benefit of PUDs is the potential for a dynamic community with varied housing, including single family homes, townhouses and condominiums, sidewalks and ample green areas that attract both families and singles.
What is planned unit development?
The planned unit development definition refers to a mixed-use community that includes housing, green spaces and retail and/or light industry. Because of the mixed-use nature of these developments, they depart from standard zoning and subdivision rules – developers must work with local jurisdictions on planning and future use before being allowed ...
What is a PUD?
A PUD consists of a community of homes that are either attached or detached properties. In a PUD, the owner of the property owns the land the house sits on, similar to a single-family home. Additionally, a homeowner’s association association (HOA) typically owns the common areas of the community.
What is a Condo?
A condo can come in a variety styles. It may be attached or detached. It also can an enormous high-rise or a single-story structure. The interior of the condo (airspace) is owned by the condo owner. The owner holds title to the unit. However, the exterior of the structure and common areas are owned by all the unit owners in the condo project.
Financing a PUD vs Condo
Generally, it is much easier to obtain a mortgage on a PUD than a condo. A condo is subject to a greater number stringent approval requirements in comparison to a PUD. This is particularly true if the lender sells their loans to Fannie Mae or Freddie Mac.
How to Determine a PUD vs Condo
You should not rely on the appearance of a property to determine if it is a PUD or condo. A way that is used to determine the property type is by reviewing the CC&Rs and a subdivision/condo project map. The below video gives you an idea of how a PUD vs a condo is determined.