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Is anyone really familiar with residential construction costs? I have been talking to a contractor and he says the costs have skyrocketed in the last 6 month especially for lumber because mills are closed due to covid. Is anyone building or planning to build? We were considering it but with the costs, we just can't make it work.
Lumber has basically doubled or more than doubled in price. Labor and material rates are rocketing....absolutely going nuts. Yes you’ll get one cut rate for bulk but lumber is absolutely crazy priced right now.
Go take a walk around Lowe's or Home Depot and see the empty shelves. We bought brick pavers 3 times over the summer. We bought our 4th and hopefully final load this week. The price of brick pavers has increased 30 cents a piece since July. They were 98 cent each and they're now $1.28 each. Doesn't sound huge, but when you're buying hundreds and hundreds, it really adds up.
It IS huge. That's over 30%.
Quote:
Originally Posted by Electrician4you
Lumber has basically doubled or more than doubled in price. Labor and material rates are rocketing....absolutely going nuts. Yes you’ll get one cut rate for bulk but lumber is absolutely crazy priced right now.
You might as well wait. Right now it’s too crazy.
Yep. That's all we can do. We want to be in a specific neighborhood and lots don't come up very often. And you need an old home vs. one that has been substantively remodeled. It's like a needle in a haystack.
Your “builder” is a liar. Lumber is a commodity- pricing is a roller-coaster ride annually. That why builders make annual/semi-annual pricing deals with suppliers. I’ve worked with my supplier on an annual schedule for years- locking in pricing for the fiscal year regardless of what the market does.
Right now, pricing has risen to unprecedented levels- but the price increases have been manipulated by demand and lack of supply. Even with “locked-in” numbers, doesn’t mean there’s a ready supply- unless you’re willing to pay for it.
Oh really? I didn't know about this. Thanks for the info.
Huge price increase in lumber is due to huge developers and builders increase in construction due to blown out of proportion demand. Also, there were few natural disasters lately, right? Remember, how sheet-rock vanished after Katrina hurricane?
This Lowes i went to, had 5-6 additional pallets of 2X3s from what I saw.
No one knows just when Lowes bought the lumber you got a couple of months ago and when they bought the lumber currently in stock. If production and the wholesale supply happened to be low and Lowes (the company, not just your store) had to scramble to find 2X3s they probably had to pay more for them. They're going to pass that cost increase on to you.
Last edited by Parnassia; 02-27-2021 at 01:46 PM..
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Whats up with the huge price increase of lumber?
