Condominiums and Planned Unit Developments are frequently being used as a way to battle the rising population and declining amount of land in California. What’s the difference between a condo and a PUD, though?
The terms condo and PUD refer to land interests, and have nothing to do with the physical dwellings that are built on the land. The terms condo or PUD say a lot about the ownership rights of the unit and common areas that you’ll get when purchasing.Β Fun fact:Β In California, townhouses are the most common dwellings, and they can be a condo or a PUD (or a stand alone unit!).
Knowing that your home search might include a condo or PUD, we want to make sure you understand the differences between the two.
The difference between and condo and a PUD
Condo:
Owners of a condominium own 100% of their actual unit, along with a percentage of the common areas in the entire condominium project.
Planned Unit Development:
PUD owners own the lot (shown on the tract or parcel map) and their structure on the lot. They also receive some rights and easements to use in common areas, which are frequently owned by a homeowner’s association.
Common areas can look very different depending on the property. They can be buildings, roadways, walkways, utility rooms, equestrian trails, clubhouses, swimming pools, or golf courses.
If you have still questions about condos and PUDs, please don’t hesitate to contact us. We know this is confusing and want to make sure you’re informed.
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