A home owner should expect to re invest 2-5% of the homes value yearly in order to maintain the property.It’s barely 7 years old, how is that much work already required?
Every year seems wild, for a $400,000 property that is between $8,000 and $20,000, which is enough to replace a roof. That's much higher in my experience than what is needed, unless you are at the cycle in your house ownership where the roof, furnace, hot water tank, etc. need to be replaced.A home owner should expect to re invest 2-5% of the homes value yearly in order to maintain the property.
You are being overly hyperbolic and un realistic if you think a few million every handful of years wont be required.
Bob Vila says 1-4%Every year seems wild, for a $400,000 property that is between $8,000 and $20,000, which is enough to replace a roof. That's much higher in my experience than what is needed, unless you are at the cycle in your house ownership where the roof, furnace, hot water tank, etc. need to be replaced.
The fact that there are structural and roof repairs already needed for the arena now seems a little wild, unless the workmanship was shoddy initially...
I'm sure there were some deficiencies in the initial build. This is common for major projects.Every year seems wild, for a $400,000 property that is between $8,000 and $20,000, which is enough to replace a roof. That's much higher in my experience than what is needed, unless you are at the cycle in your house ownership where the roof, furnace, hot water tank, etc. need to be replaced.
The fact that there are structural and roof repairs already needed for the arena now seems a little wild, unless the workmanship was shoddy initially...
Common for where?I'm sure there were some deficiencies in the initial build. This is common for major projects.
There were some issues with the sanitary system right after it opened. I recall some of our group going in to determine the problem. I was consulted on that portion. And do remember the Roof exhaust fans blowing over in a super high wind. We watched that from our office. The Mechanical was designed out of country even though there was local support. They missed a lot of climate issues.Deficiencies or design oversights occur on every project and are typically resolved post-occupancy without much issue, however, Rogers Place had significant HVAC issues, had to add a humidification system, new fans and likely other elements of that system.