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Reserve Study: A Must For A Home Buddy

By Francesca Rivas

A reserve study is not the most common phrase that one encounters. It’s not used for academic requirements, yet is related to homes. Well, it is said that ‘home is where the heart is.’ Yet for a financial perspective, it is also an area for investment and funding.

Condominiums or shelters of the homeowners association consider these properties as financial. It has to be anticipated that as years go by, houses can also depreciate in form and in amount. Hence, to create an inventory of what physically constitutes a house is important, as well as the plan of funding for any possible major remakes. Simply put, a reserve study is needed.

There are basic grounds for conducting a reserve study. It can be to preserve the quality and longevity of the housing properties. This is also one of the responsibilities of the management of the homeowners association, and they must accomplish this. Another reason is to prepare proper funding for foreseeable housing repair costs. Then, this kind of study is also formulated in legal compliance to the law. A number of states in the United States, namely Washington, Utah, Delaware, California, and more have enacted the making of such studies.

Homeowners association must participate in the process of making a reserve study. However, it is appropriately performed and put to writing by an engineer, who has a degree and rich educational background on constructions. Moreover, the expert must preferably pass the accreditation to be a Professional Reserve Analyst or Reserve Specialist. If desired, he or she may ask for further guidance from his fellow professionals who are much more experienced in this field. This way, accuracy and integrity can be accomplished.

There are two sections that are always present in a study. One of these is the checking of the conditions of the exterior and interior parts of the house or unit. This is called physical analysis. The other section is the fiscal analysis, which comprises of the financial requirements to afford the projected expenditures. Combining these two sections should provide the association a strategy on funding.

How much money is needed and how this amount going to be raised by the association is discussed in funding. The total money to be collected will then be used for predictable outcomes.

The study can project if the funds of a certain housing association are not adequate. When this happens, refilling of the money pool is needed. Otherwise, fiscal predicaments may be stumbled upon and major changes may be delayed. Definitely, this will pose a concern for the purchaser of a house property or lender of a condominium unit. This inadequacy can also suggest that the reserve study is not accurate and credible.

Indeed, a reserve study can be very beneficial. It demands hard work and time in the early process of composition. However, the security and guidance it can offer are undeniable.

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Article Citation
MLA Style Citation:
Rivas, Francesca "Reserve Study: A Must For A Home Buddy." Reserve Study: A Must For A Home Buddy. 1 Jul. 2010. 4 Aug 2014 <>.

APA Style Citation:
Rivas, F (2010, July 1). Reserve Study: A Must For A Home Buddy. Retrieved August 4, 2014, from

Chicago Style Citation:
Rivas, Francesca "Reserve Study: A Must For A Home Buddy"

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