We have been asked this question many times, "Is There A Difference Between A Condo and A Townhouse And What In The World Is A PUD?"
The following is the easiest way to explain these different terms to consumers buying or selling on The North And South
Shore Of Long Island...
Condo ~ A Condo is where you own the actual structure of the building jointly with the other members of the Association, along with common areas such as swimming pool, tennis courts etc. Indiviudally you own the airspace and interior of the structure, but not the building itself. You and the other members of the Association own the structure together. Condos come in a wide variety of architectural styles. They can be ranch style attached units, 2 or 3 story units, or they can be in a high- rise building. A Condo can be 1 floor, or two and can have a basement or no basement. Sometimes there will be neighbors above, below or both.
If you own a condo, you do not own the land surrounding your living space. A condo owner owns only the unit itself, which is taxed as an individual entity, and sometimes a percentage of the common areas of the community. It is important to note that a condominium, just like a townhouse, refers only to type of ownership and is NOT a type of house.
The difference between a PUD townhome and a condominium townhome is that in a PUD, you actually own the land your townhome sits on, and usually a small back and front yard also. You can landscape and enjoy the limited land you own, rather than having no control over it.
These forms of ownership have a homeowners’ association and the association maintains the grounds, structures and systems in the complex. The monthly common charges typically go towards upkeep of pools, tennis courts, security, landscaping, trash and snow removal. You pay for electric, and/or gas, your windows, air conditioning and plumbing.
Townhouse ~ owns the land on which it sits.
Condominium ~ owns the inside of the unit.
PUD ~ Owns the land front and back of unit.
Most people conveniently refer to all of these types of structures as Condos, although they may actually be a Townhouse or PUD.
Are you looking for a particular townhouse or condo property on Long Island? We can locate these listings for you. Call our Cell at 631-805-4400
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