What Is A PUD (Planned Unit Development) In Real Estate?
There are many different types of housing developments that are being built every day all over the country. One of these types of developments is known as a planned unit development (PUD).
Planned unit developments are housing developments that are not subject to the standard zoning requirements, but instead work with the local government to develop criteria that will determine common areas, private areas and building guidelines
. The homeowner community will be operated by an association and will be designed to offer certain amenities and features that are not typically found in a traditional type of subdivision.
There will generally be association dues assessed to help cover the amenities, maintenance and any other fees associated with living in a PUD. You can find different types of housing within these communities. You will be able to find single-family homes, condominiums and townhomes. It is also possible to find retail and commercial space within these types of developments.
As with living in a traditional subdivision, there are pros and cons to be considered. One obvious pro is the convenience and the amenities that are offered. When living in a PUD, you may have access to many different shops and restaurants without ever leaving the community. This will help you to save money on travel expenses. Other amenities that could be available to you could include parks, swimming pools and workout facilities as well as common ground.
These amenities do not come without a cost. You will be paying for them with your association fees
that you pay either on a monthly or a yearly basis.
Another advantage to PUD living is the maintenance factor. In these communities, the PUD will usually take care of all the common areas that require maintenance such as landscaping, snow removal and other things that may or may not be included is maintaining the exterior of the homes and the front and back yards of each home. This helps to ensure that the homeowner does not neglect the property and lower the property values for everyone else.
With advantages come disadvantages. There will be restrictions on the property. There will be guidelines that will need to be followed pertaining to the exterior of the properties and where you can and cannot park your vehicles. Some PUDs have pet ownership requirements, and there may be other requirements put into place by the association. You will not be allowed to do whatever you wish with your property.
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