I'm hoping someone can provide some direction for me. I realize that what I am about to ask is nigh onto impossible to accurately estimate, given the many variables at work.
I am on the finance committee of a homeowner's association situated in eastern NC. He have about 40 brick columns connected together by wrought iron fencing leading into our development which the HOA is expected to maintain. The columns are about 9 years old and in excellent condition. We are working on developing replacement reserves to help fund expensive repairs or replacements sometime in the future.
We have calculated that we have about 9,300 linear feet of mortar joints in these pillars and their bases. From what we have read, such mortar joints typically last at least 25 or more years. We've obtained a local cost to repoint a linear foot of mortar at $8 per foot. What we do not know, and are trying to get some overall experiential estimates on, is this: is there some percentage we might apply, here in eastern NC, that would say that of all 9300 feet, x% would likely have to be repointed when the time comes? We realize that the quality of the mortar and the quality of the brick laying are large variables, as are weather conditions. We are near the coast in an area with high humidity but little in the way of freezing conditions. Assume that the mortar and workmanship are excellent. Is there anyone in the industry who could say, for example, that we might expect to have to repoint 25% or 30% or 50%, etc, of the mortar lines in 25 years? Any guidance you could give us would be appreciated. Lacking info from someone in the industry, we'd be left to pull a number out of the air.
If we had to repoint 100% of the mortar, we would have to reserve on the basis of 9300x$8, or over $74,000 in today's dollars. We think it is unlikely we would redo 100%, but we have no idea what a reasonable reserve should be based on.
Thanks for any help you can provide.