Client Location: Minnesota
Number of Buildings: 38
Number of Units: 92
Year(s) Built: Mid 1970’s
First Reserve Study with Building Reserves: 2012
Number of Reserve Study Updates with Building Reserves: 4
Service Level(s) Received: Level I, Level II, Level III
In over 13 years of collaboration, we’ve provided this Minnesota HOA with five different HOA reserve studies. Despite changes in board members, property managers, and even management companies, our partnership has stayed strong. We’ve acted as a steady resource in reserve study planning, helping them adapt to shifting economic conditions and community needs.
A standout example is their roof replacement project, which accounts for nearly 50% of their total projected expenses over 30 years. Most of these roofs had been replaced twice since the 1970s, so we worked with the board to create a long-term HOA budgeting plan and a phased replacement schedule aligned with each roof’s estimated end-of-life and cost considerations. Between 2022 and 2025, the replacement cost per square foot of roofing rose by 27%, bumping the total projected roofing expenditure from $3.5 million to over $4.5 million.
Even so, their reserve study updates showed a decrease in recommended annual contributions from 2022 to 2025. How Was That Possible? Prioritization and preventative maintenance.
Their commitment to HOA maintenance planning, especially with asphalt streets paid off. With regular crack repairs and seal coating, the useful life of their streets extended by 3–5 years. That gave us room to responsibly defer capital improvements like full street repaving. Paired with a small decrease in the local inflation rate and smart investing of their reserves, this Minnesota HOA gained more buying power while lowering financial strain on its residents.
Thanks to our long-term partnership, this HOA made smart property decisions around HOA capital improvements while keeping contributions manageable for residents. More importantly, they were able to show homeowners how Building Reserves early can create financial resilience, even in times of economic uncertainty.
“Your work was exemplary: accurate and user friendly, a pleasure to read. Your financial recommendations are fully consistent with our previous analysis. They provide rigorous up-to-date documentation”
By investing in professional reserve study planning and committing to ongoing HOA maintenance planning, even older communities can improve their infrastructure and avoid costly special assessments.
Is your HOA ready for a smarter reserve planning strategy?
Let Building Reserves help you make confident, informed decisions. Whether you're just getting started or need regular reserve study updates, our team is here to guide you through long-term HOA budgeting and capital improvement planning.
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Written by James Newby, Architectural Engineer
