What is a PUD home? (real estate, HOA fees, condominiums)

[nick2006]

planned unit development. Tend to be smaller lot "detached" (<4000 sq ft) homes. Legally considered to be condominiums in California I hear. What does this mean? Is resale bad. Do PUD owners not really own their land since it is a condo (although its detached)...what are disadvantages. thanks sincerely

[Narfcake]

PUD tends to fall in between condos and detached homes, understandable considering it's practically a hybrid of the two. You almost always have HOAs, but the monthly dues are usually less compared to condos due to fewer "common areas" to maintain.

Some folks like PUDs because they tend to be newer and still priced less than a comparable single family. However, HOA fees do eat into your monthly budget, sometimes to the extent that you would be better off paying the extra amount towards a bigger mortgage for the house instead. The smaller lot usually means sacrificing a driveway, a yard that's not crowded with more than 4 people, or both.

[flo2900]

[quote=nick2006;8289036]planned unit development. Tend to be smaller lot "detached" (<4000 sq ft) homes. Legally considered to be condominiums in California I hear. What does this mean? Is resale bad. Do PUD owners not really own their land since it is a condo (although its detached)...what are disadvantages. thanks sincerely[/QUOTE

PUD`s owners actually individually own the land underneath and air above it. Condo owners only own the air above property and the land under the property only in common with other tenants.

So YES from this prospective i`d choose a PUD.

Disclaimer: The above statement is NOT a joke! Please check California Real Estate Law!

[CaryCooper]

PUD- I own the land & dwelling no HOA. I painted/did roof ect. Like a HOME. Townhouse 2 story style 3bed 2ba W/vaulted cealings-new structure.1300sq feet energy efficient $160 for 24/7 ac use in the summer & $78 central heat in the winter. 2 car Garage and a tiny yard. Private culdesac and very quiet. No common areas. Most units are joined at the 2 car garage. My unit is the last one with out being joined to anyone-privacy!! If you buy one of these (and they are out there) you have to be patient and look around. Price- usually about 20 to30 K below median home prices. Personal experience-I will never leave this life style due to not having a high cost to live.

[KENNETH CARTER]

In california, can a 3 story designed to be a condominium, become a pud ?

Is a 3 story residental pud allowed in california ?

Thanks,

ken c.

[MortgageUnderwriter]

The thing you must remember about a PUD, they typically have an HOA... which means they have RULES.... i.e. if you want to put up a fence along your property line, or get DishNetwork or DirecTV satellite TV, or put up a shed, or even something as simple as planting shrubs or a tree.... you will likely have to get permission from the homeowner's association.... and they may say NO, which means you cannot do what you want with YOUR property. Thoroughly investigate the HOA rules and restrictions, and make sure that you are okay with those restrictions before you buy.

[Cardiff Kook]

I own a PUD... We own the land our home sits on and have no HOA or mello roos

[JustMike77]

Originally Posted by nick2006

planned unit development. Tend to be smaller lot "detached" (<4000 sq ft) homes. Legally considered to be condominiums in California I hear. What does this mean? Is resale bad. Do PUD owners not really own their land since it is a condo (although its detached)...what are disadvantages. thanks sincerely

PUDs are classified as Single Family Homes. They can be detached or attached and, yes, you own the land beneath them. They are often on private streets. The HOA fees are used to cover the cost of the common area maintenance, street maintenance (if private) and the gate maintenance (if there is one). Site Condominiums, on the other hand, look exactly like PUDs. In this case, the individual lot itself IS the condo unit. Once again, you own the land. Many realtors confuse the two, you need to check the legal description to know for sure. There is no adverse effect on marketability for being in a PUD. Some like it, some don't.