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December 18, 2020 5:09 AM Amy Fontinelle - Forbes Advisor
Posted:
Updated:
December 19, 2020 7:28 AM
A planned unit development, or PUD, is a community of single-family homes, and sometimes condos or townhomes, where every homeowner belongs to a homeowners association (HOA). If you’re shopping for a home, you might need to know what a PUD is and how it works because it could affect you during the mortgage qualification process, as well as during the time you live in the home.
Characteristics of PUDs
Real estate developers design PUDs as attractive and cohesive places to live. A PUD may include a mix of housing for homeowners with different price points along with convenient access to workplaces, shopping, education and recreation.