Actual Cost Comparison

Paint compared to Restoration

 

Harbour Island HOA

127 Luxury units, Oxnard Ca.

24 year old stucco.

 

Paint:

Acrylic Paint – 100% coverage over all stucco areas, stucco only.   Paint Bid – $800,000

Lifespan for Paint – Repainting recommended at 6 yrs.

Projected cost at 6 yrs.  – 100% paint coverage - Assuming 3% inflation - $955,000.

Projected cost at 12 yrs.  – 100% paint coverage - Assuming 3% inflation – $1,140,000.

Monthly reserves required per unit, stucco paint only - *$71.

 

Restoration:

Cement based refinishing – 20% coverage required, stucco only.  Cost - $320,000

Lifespan for restored, unpainted, stucco – 10+ years.

Projected restoration cost at 6 yrs. – 10% coverage  – Assuming 3% inflation - $191,000.

Projected restoration cost at 12 yrs.  – 10% coverage - Assuming 3% inflation – $228,000.

Monthly reserves required per unit, stucco restoration only - *$27.

 

Stucco Colormatch completed the restoration of the entire Harbour Island HOA in phases from 2011 to 2013.  All the work, including work done in 2011 is holding up exceptionally well even in the marine environment of the project.  

From this:                                                                    To this:

     

 

 

 

 

 

 

 

 

* Reserve calculations courtesy of Association Reserves.