Loon Area Planned Unit Development (PUD) vs. a Condo.
As a 25 year real estate industry veteran I get this question frequently.
A PUD is an attached whole ownership townhouse, in which the owner owns the ground below the structure. This allows the owner a little more flexibility with floor plans and future changes to the buildings design. The Village of Loon Mountain Resort is an example of this type of development. The original developer saw the upside of selling the sites and having restrictive covenants on the style and size structures that could be built on the PUD sites. The down side was everyone in the building initially had to build together and agree to a preset exterior appearance and use of materials.

The Condominium concept differs in the sense that these were built first then sold with specific common area maintenance budgets implied. In the condo ownership you generally own only from the walls inward and all the exterior aspects are controlled and maintained through the fees set aside to pay for the upkeep. The main difference between the two is in a PUD you get a bill when it’s time to paint or re-roof the Townhouse and in a condo the owners association has set a side a capital reserve to take care of the big ticket items at their predicted ware out date. It is a case of you can pay me now (or set it aside) or you can pay me later (as in when you need it you pay it).

Ask a real estate professional about any type of property so you get the right answer before you make a mistake.