Preperh tosstonal woukd dee . dent, What mas oun cals and owners seem te dois focus on pavings the vers least they can through the: Hvonthh strata tee assess ment. Tauess this type of short term thinking ts fine should you only plan to five in vourcomples fora few vears, yet without the neces sary mintenance, repair, and replacements a complex can quickly turn into a “money pit” with the value of chat property severely diminished. If insufficient finds are available in the reserve fund to repair or replace a sudden probleni in a strara complex the only resort is a “special assessment” er lb the own: ers and speaking from expe- rience no one Tikes to receive a special assessment for $5,000 or more. Yet many condominium complexes are now emering their third decade of use and unsched- ulead repair and replacement costs could cause a night: mare for these property OWTeTs. Establishing a sinking fund budget is not a compti- cated process. All one has to do is itemize all the compo- nents of the complex (excluding the interiors of each strata unit) calculate the expected life of each compo- nent, the future cost chat will be needed to replace the component and then calcu- peted ite the reserve tind Pn acempley of 60) suttes thus asmauuts tee pst AS Gens perimonth Nara back brockimge amount iit? Yer Most sepana complexes HANOTe this pe of sal evpense assessatent and as those tittle expenses add up the poten: tial for a substantial reserve fund shortfall becomes more likely. Yes, we all know chat the roof will eventually need replacement and the exterior walls will need painting but what else is there? Here isa partial list of what should be inchided in calculanmy your strata reserve fund: asphalt paving, conerete curbs and side- walks, roof and flashing, exterior and common area walls, window replacement, window caulking, carpets and floor tiles, contemporary lobby and hallway refurbish: ment, elevator cabs and equipment, storm and sewer systents, hot and cold water systems, boilers and heating system components, fire pro rection system, ventilation systems, pool, exercise equipment and the like, elec- trical system, lighting, interi- or and exterior, emergency generator, enterphane sys- tems, parking areas, chim- nevs and so on, One other component is the updating Igy Prudential Sussex Realty $419,900 CARISBROOKE AREA ‘ROOM FOR A GROWING FAMILY 5 T PPOPLTT Ment GS Gt Course fee fo cvervadhy expenses, nianage repairs and mainte- nance plus maintain property values. The amount of the esising “reserve fund,” while nat considered by most when valuing the pur- chase of a pre-owned condo- miniunr is a vital component to consider — when buying, or for your continued con tentnent with the unit you own, Look to the future and Pav vour costs naw far, as the old commercial stared, “You can pay me now or you can pay me later.” REE Alert: If vou are thinking of selling vour home in the next ES months my sugges: tion is to do ir now, My teed: ing is that the recent announcement detailing the up-coming closures for the Lions Gate Bridge is going to have severe impact on the North Shore's real estate marker. Ht would not sur- prise me at ali that the demand for North Shore homes will fall dramatically when we are faced with the nightmare reality these scheduled closures will cause in accessing the North Shore. — Michael Dowty is vice president, Special Projects of pntury UE Prudential Estates Lad You can reach him at 273-1744 5 bedroom home in the sought after Carisbrooke School area in Upper Lonsdale. The main living area has 3 bedrooms. 1 1/2 baths, A great sundeck for entertaining ...and ... a 4th bedroom down, or ... give the in-laws a full 2 bedroom suite. Laundry on both levels, Fantastic fenced yard. Lots of parking and a great neighbourhood. CENTRAL LONSDALE 2 BEDROOM wv Spacious open fioor pian & In-suite laundry/gas fireplace Pets welcome 2 parking spaces Near banks, stores & buses #210-125 W 18TH FINE FAMILY TOWNHOUSE GREAT PRICE! 4 bedrooms means room for the whole family! Cedarbrooke Gardens has something for everyone - a convenient playground for the kids. swimming pool for the whole family and a clubhouse for Mom & Dad to have parties. Alter kids go to bed. tom & Dad cud- dle in front of a real wood-burning fireplace. At this SSS - can't be beat. VIEW ANYTIME BY APPOINTMENT. UNBELIEVABLE VALUE 2 BEOROOMS, 1 1/2 BATHS Great 2 bedroom accommedation with 1 12/ bahts for two peopie sharing, .. -of bring a fami- ly. Huge big patio is fenced, private and nice for gardening or relaxing. Steps to Lonsdale Quay, restaurants, park and the Seabus. VIEW ANYTIME BY APPOINTMENT. 9A CEDARBROOKE GARDENS - #105 - 555 W. 28TH st. wouLp 2 BEDROOM PATIO CONDO ote v Your Quin Pavate Ground Level Entrance Spacious Living Room. Dining & Kitchen vw Sliding Doors to a Garden Patio 2 Good size Bedrooms wv A chance to have !n-Suite Laundry v Nice Neighbours and a Great Location ¥ Swimming Poot, Clubhouse, Prudential Sussex Rec! yground .. and more. North Vancouver 984-9711 www.pru enfialsussex.com AN independently owned and opened broker member of T dential Real Estate Attitiates, Ine, A subsidiary of The Pradential insurance Company of Ainvrice fy < bedronm corner suite with beautitul south west (By Prudential Sussex Realty * UPPER LONSDALE AREA w Best value in Upper Lonsdale 3 bedroonis for tne price of 2 badrooms, upper fioor has 3 bedrooms updated bathroom & kitchen. hardwood floors. Down has a partly finshed basement with 2 bedroom suite potential. Ail of this on future develcpment potential ia x 123 ft Jet. Call Ralph tc tov view. : NOW $144,900 CITY VIEWS * * * APARTMENT OF THE WEEK x Very well maintained 850 sq.ft. 2 bdrm suite wih & southerly city views. Plenty of storage. Great location views. 1 Secured parking, 2 balconies, large storage | near Lonsdate Quay. Quiet location in building.Call jf afea, bitding ts in good condition. South west view! HERITAGE “CITY HOME” YESTERYEAR ELEGANCE Completely restored. Main floor features high ceilings. orginal fir floors & crown mouldings. Large living mm with gas F/P & large dining rm. New gourmet kitchen wiadjoining family rm. Grand staircase leads to a georgeous master bdsm with intriguing ensuite + 2 additiona: bdrms + a den. Great city views. Located ina Parklike setting in Central Lonsdale. Watk to Lonsdale Quay & ride the Seabus dowrtown.sec. alarm, wine cellar & more. Fully developed basement. 260 EAST KEITH RD., N.V. CONTEMPORARY LOWER GROUSEWOODS Immaculate executive home in lower Grouse Woods. Vaulted cedar ceilings. Gorgeous kitchen with adjoining family room. 2 fireplaces, 4 bedrooms, skycights, recreation foom plus billiard room. Close to Handsworth Secondary and elementary schools. $323 NANCY GREENE WAY, N.V. RAND GATZKE 984-9711 OUTSTANDING VALUE 703-1420 DUCHESS 2 bedrooms, 2 bathrooms, 1150 sq.ft., woodburning fireplace. In-suite laundry, 80 sq.ft. of deck, super views ef ocean and North Shore mountains. Two spacious parking underground. To view by appointmem cail George and Judi Whyte 925-0487. Vendor will respond to offers from $244,000 to $284,876. “Your Satisfaction is Our Success” 925-2911 GREAT LOCATION & OPPORTUNITY 2354 MATHERS This is a delightful home in excellent condition on a large lot" just a few blocks to Dundarave & 1 block to Irwin Park Elementary. 2 bedrooms up & 2 bedrooms down with basement being full walk out & above ground! © Prudential Sussex Realty North Vancouver 984-9711 / West Vancouver 925-2911 An independently owned and operated broker member of The Prudential Real Estate Affiliates, Ine, A subsidiary of The Prudential Insurance Company of America