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.