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So we have been himming and hawing about remodeling our house some years. It seems that we’re finally committed and have started working on projects. As we get into the bigger things like the kitchen and baths, I fear that our timing is blatantly off. That is, materials seem to have shot up, and it leaves me wondering whether we should wait and see a bit more on these, as much as we might hate it.
What do folks think about what we might see in the future and whether costs could actually come down?
It depends upon what you definition of remodeling is. We know people who are waiting on kitchen appliances since April and they will be no earlier than January 22. While you are not building a home this article will stun you.
By then inflation and mortgage rates will be out of control, but we'll have an overabundance of illegal migrant workers that will work for less than $15/hr. Which means that product availability of "Made in the USA" will be abundant because no one is buying due to the "run amok" inflation and skyward unemployment of US citizens. All brought to you by Joe Gaffe.
Oh, and there will still be a shortage of micro-chips- meaning shortage of appliances, vehicles, and other electronics that we depend on everyday thanks to the pandemic. Funny- its a virus that effects electronics; just not in the way we thought.
So we have been himming and hawing about remodeling our house some years. It seems that we’re finally committed and have started working on projects. As we get into the bigger things like the kitchen and baths, I fear that our timing is blatantly off. That is, materials seem to have shot up, and it leaves me wondering whether we should wait and see a bit more on these, as much as we might hate it.
What do folks think about what we might see in the future and whether costs could actually come down?
My daughter is just starting a 600 Sq ft addition to her house. All the estimates came while lumber was at its highest. Materials have already started going down, so they will have plenty of wiggle room for upgrades.
If OP is just now getting estimates, materials should be at a reasonable level in a few months.
There are supply chain problems, but I think the brick, mortar and lumber will be available.
I totally hear you. That's why we went the way we did with our deck. Me buying the materials myself and just hiring a company to come in and do the labor saved us 13k and 21k from two well known companies here that quoted me. I am going from 24k and 34k down to 10.5k. Huge difference. I'm also handy so I've done some demo myself and will do some more in the next few Sundays before the main company comes in.
As far as money, the bf is making unbelievable money that will not continue forever so this is the time we've decided to put money into the house without doing a HELOC. We just paid off all CCs so everything with these projects are being paid in cash.
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