Quote:
Originally Posted by HobieMarty
I would not live in anything built on that piece of property. From what I understand, the surrounding buildings have not experienced the salt water issues that this property experienced. ......
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I'm sure surrounding buildings do. The difference is maintenance. The proximity to the beach wreaks havoc with everything. I've seen metal light fixtures start to flake in less than a year.
We used to own a unit in the Fl keys, similar size complex, 160 owners. In our case the engineering reports were very similar, as was the pushback from other owners not to do the repairs. Our board let a 2 million dollar repair turn into an 8 million dollar repair by delaying close to 10 years. We bailed when the repairs were done, and bought in a smaller complex, 20 units, where the maintenance was always up to date, and falls in budget with the normal fees and reserves.