![]() NAHB - As lumber prices remain sky high, home-building activities continue to suffer across all aspects of the industry — including remodeling projects. Home owners have had an opportunity while sheltering in place to examine their homes and identify key areas in need of repair. But many have been apprehensive to tackle these projects because of the uncertain costs and availability of project materials. “When talking to prospective clients about projects, lumber pricing is now always part of the discussion, as they are aware of the issue, and are all concerned about how that may impact the cost of their projects,” shared Kenneth Kostecki, a contractor/remodeler from Virginia.
“Availability of other materials — such as windows, doors, appliances, plumbing fixtures, tiles, etc., — have also been in very short supply and/or with extended lead times,” he added. “This has led to additional project delays, which has impacted both cash flow and the overall project schedule, meaning that home owners are left in the middle of a construction project with their house torn apart and unfinished for a longer period of time.” Such an uncomfortable and unsafe living environment for a prolonged period of time is a deterrent not just for general updates, but for critical repairs as well, which many home owners are forgoing or having to find creative workarounds to help ensure their home is safe and functional. “Twice this year I have had to put plywood over a customers’ patio door to prevent them from falling out of the back of their home. Why? Because their deck was unsafe and needed to be demolished, but there wasn’t enough new material available to rebuild it within the value of their home improvement loan when material prices escalated,” stated Jarrett Kravitz, a builder/remodeler from Connecticut. “Due to rising lumber cost and shortages, we have had to put many projects on hold. This greatly impacts our customers, especially those still attempting to get hurricane repairs done,” shared Gabrielle Pumphery, a builder from Florida. “Insurance companies paid out too many of these customers six to 18 months ago at a rate that was current at the time. This has created a huge difference in money received versus current costs today. A repair project we have had on the list for a year would now cost us almost three times as much to do compared to a year ago.” To read the full article on NAHB's website, click here.
7 Comments
4/2/2022 09:14:23 am
It made sense to me when you said that as long as timber costs stay sky-high, home-building activities — including renovation projects — will continue to suffer. My mother told me yesterday that she will build a little lumber house after she retires. I will share this post for her to have the full picture of what or where to find a lumber house builder.
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7/14/2022 03:00:02 am
As lumber prices remain sky high, home-building activities continue to Critical Home Repairs Delayed Because of Sky-High Lumber Prices. Inflationary pressures have caused some homeowners to delay big projects related to home ownership, a new study shows.
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8/9/2022 01:46:47 am
Going with a custom home builder takes the stress off of your shoulders so you can focus on your life, while your builder takes the necessary time to properly manage all aspects of your home build.
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11/14/2022 04:01:19 am
Thank you for mentioning that additional items, such as doors, appliances, windows, plumbing fixtures, and tiles, have also been difficult to find or had long wait periods. My father wants to remodel the house. Before beginning the renovation, I will advise my father to check with the custom home builder about the product's availability.
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1/13/2023 09:34:38 am
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1/13/2023 09:37:40 am
Great informative post keep it up, We are utilizing well over a quarter-century of our experience and knowledge and have teamed our customer comes first mentality with the industries best experts, top manufacturers and with state-of-the-art technologies.
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1/16/2023 05:28:41 am
Analysts and traders say conditions are ripe for prices to keep climbing through winter, as they often do ahead of the spring building season.
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