Quick Reference: The Difference - Condo/PUD/Co-op

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Real Estate

Quick Reference: The Difference - Condo/PUD/Co-op

This is a good question to ask your REALTOR® when you begin looking for a house.  There are differences and those differences could make your decision much easier when it comes time to buy and have a significant influence on your enjoyment over the years that you live there.


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: (more common in large urban areas)

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.


Not a form of ownership, but a term for an attached row house (often owned as Condos or PUDs).

Advantages of each:

Prices are often lower than for single-family home; many have amenities like community pools and tennis courts; exterior maintenance minimal or nonexistent; safety in “cluster” environment.


HOA dues will tend to be higher as you are paying for all the work being done and mentioned above; CCRs may be complex, more so than in single family ownership although many new planned communities are getting as complex, especially gated communities or communities for over 55.