What is it?
PUDs, or planned unit developments are communities that are operated by a homeowner’s association. These communities consist of single family homes, condos or town-homes, and even a combination of both. In some planned unit developments, the development may even include commercial spaces as well.
What is so different about a Planned Unit Development.
These developments still have an hoa fee, but they are less than your typical homeowners association. That is because the structure of ownership in a PUD is different. Since you own the structure you live in and the land your home is built on, there is less responsibility on the homeowner’s association, meaning you pay a smaller hoa fee.
Enjoy regular upkeep of landscape and other common areas in the community. A cleaner, better looking community will help protect the property’s value (blog about what buyers look at). You can also enjoy the park, pool, or gym, whatever your community offers. To make things more convenient, some PUDs also include restaurants and other stores if they also include commercial spaces as well!
Some cons of living in a PUD would be the restrictions on what you could do, closer homes, and of course, the hoa fee.
The restrictions on allowing pets, property usage, parking, and a few other things are certainly cons of living in a planned unit development. Another downside is that the homes are closer together. For some that is not a big deal, but for a lot of people, they want their space and bigger backyard. Lastly, on top of your regular mortgage payments, you still have to pay the hoa fees that contribute to the expenses for maintaining the community.