The unit owners or homeowners own both their residence (structure) and their lot (land)Īn HOA owns and maintains common amenities that all unit or homeowners may use Mortgage lenders define PUDs based on the following: In a planned unit development, you may find single-family homes, senior living, and townhomes along with grocery stores, restaurants, daycares, office spaces, religious institutions, warehousing, storage, etc. They also have access to workplaces, shopping, education, and recreation. What are the characteristics of a PUD?Ī PUD may include a mix of housing for homeowners with different price points. The commercial properties (stores, restaurants, etc.) will serve the needs of the residents. They usually include unique amenities that are organized for both commercial and residential units. However, PUDs can also include single-family and townhome communities. They are often formed in condominium buildings due to their location in urban areas. PUDs are similar to small towns, and they are self-contained. These are contained all within one development or subdivision. What is planned unit development (PUD)?Ī planned unit development (PUD) is a type of building development and a regulatory process.Īs a building development, it is a designed grouping of both varied and compatible land uses, such as housing, recreation, commercial centers, and industrial parks. We’ll tell you the top things you should know before you buy.ġ. PUDs are very common these days, but if you’re not familiar with what this living situation looks like, keep reading! These are modern developments consisting of entire communities, including commercial properties, condominiums, and single-family homes.
We’ve all seen Planned Unit Developments (PUDs).