Replacement Value

Replacement value refers to the current market price of a new capital component, such as a roof or furnace. The replacement value is used to help estimate the amount of money that should be saved in the reserve fund to pay for future repairs or replacement of capital property.
See also:

Reserve Fund
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Alberta Real Estate Association 
WestMount Corporate Campus
300, 4954 Richard Road SW
Calgary, AB  T3E 6L1

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