Real
Estate Matters with Tim Bro
Distinctions between a Condo,
PUD, and Co-op
Condos: 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: 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.
Townhome: Not a form of ownership, but a term for an attached row house.
Advantages of each: Prices often lower than for single-family home; maintenance minimal or nonexistent; safety in “cluster” environment.
Condsiderations: HOA dues; CCRs may be complex.
To
get started with your home sale or purchase, call Tim @ 858-354-2354, “The Right Choice in Real Estate”. BRE #01224576
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