Properties are classified in several different categories. It is helpful to know the difference, especially if you are considering purchasing a home.
Single Family Residence
A Single Family Residence (SFR) is a stand alone home where the owner owns the home and the land the home sits on. They do not share any common walls or utilities with neighbors. This is usually the most desirable type of home ownership.
Planned Unit Development
A planned unit development (PUD) includes residential and commercial lots within one subdivision. Within a typical PUD are housing, residential recreation, commercial, and industrial centers. PUDs are popular because they include single-family home units, condos, business parks, and industrial buildings. Other types of common interest developments have restrictions and regulations on which units are allowed.
A planned unit development (PUD) may have varied uses within the housing development. An HOA in a PUD has many differences and unique amenities not found in other communities. Different types of communities include specific property types. But PUDs include single-family homes, condominiums, and townhomes, as well as retail and commercial spaces.
A Duplex home is a small type of multifamily building with two connected dwellings that have separate entrances on a single property. Even though they share a common wall, they usually have their own private yard and separate utilities.
A Condominium, or condo, is an individually owned residential unit in a complex or building of like units. Condo owners own their units but share common spaces, amenities, and other resources. They pay monthly fees which cover maintenance costs, amenities, and the upkeep of common spaces. Additionally, they have at least one common wall and may not have any outdoor space. Each owner owns their individual unit but not the land the unit sits on. That is owned by the association. Complexes can vary in size from 8 units to large high rises of more than 200 units.
a townhouses is defined as a single-family home with at least two floors that share a wall with another house. Unlike duplexes each townhouse is individually owned. The primary difference between townhouses and row houses is in how they’re arranged. Row houses are, as the name suggests, lined up all in a row, while townhouses can often be configured differently. Townhouses are most common in areas where land is in short supply and property prices are high. As townhouses share walls with neighbors, they make the most of the lot they are built on, which makes them a deal compared to freestanding single-family homes. They are also part of an HOA which charges monthly fees and takes care of common area and building maintenance.
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