[Hondaracer]

the special assessment will be based on your unit type, not a general split among all units.

The building we currently live in was built in 1986, 30 years old. However, it still has the original double pane metal frame windows, they are technically over their expected life span, However, due to care and maintenance we wont have to have a special assessment for replacement until 2025

for our unit, its going to cost approx 10k to replace every window and the patio slider.

Fucking sucks we cant replace them ourselves because i've got a killlerrrrr hookup with Starline windows, and already had our patio door panes replaced for free where as some people were paying $2500 or more lol

If units there are being listed for 10% or more below market, i'd take a serious look personally. Unless it's to the point where the entire envelope is in question and major leakage is going to cause huge problems down the road

EDIT*

one more thing i'll add, some people are fucking stupidddddd when it comes to these special assessments..

So lets say you've got a mortgage for 150-300k remaining on your place, whether it be a condo, townhome, etc. somewhere where the strata is going to drop the special assessment bomb. If you cant afford to add that 10k back into your mortgage to continue to live there, you're fucked.

a buddy of mine i work with lives in Langley just off fraser hwy in some older townhouses, decent places but nothing crazy, and also about 25 years old. Special assessment came in because they HAD to replace the siding and windows, like there was no other option, this had to be done because a large portion of the units had failing envelope systems, so they have to go ahead and replace all of them.

Strata council voted down going with the more expensive Hardi option, and opted for new vinyl. Already a mistake imo at a slight price increase (i think the hardi quote was another 5k a unit) but anyways.. for a total replacement of siding and windows it was like $15,000 a unit. Hefty special assessment, but i'd say reasonable value for the amount of work being done.

People were so fucking scared by this, they were selling AT A LOSS to get out.. so they wouldnt be hit with the assesment..

that was like 1.5 years ago.. those people who sold, some who i was told had lived there for 15+ years, now lost the largest exponential growth their property had probably ever seen since they had owned it... lol nice move.