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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.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Yes, the shortage of materials and demand is making it very expensive to do any kind of construction work. Three of our neighbors have done additions since the pandemic started, the people next door have had workers at their house since April doing various projects. Currently they are jack hammering up the driveway, not helpful to me working from home.
Not only have costs skyrocketed, but availability is uncertain. Some of our local builders, where the market can only be described as "hot" will not start building until the materials are on site. Too many times they have started a foundation and then been unable to proceed because no framing lumber is available.
We were considering it but with the costs, we just can't make it work.
Just plan on starting in 2022-
Between Covid, election year, civil unrest, and unpredictable weather you need to wait out at least two of those problems before proceeding. Which should be around 2022-
I’ve already put off two projects, and stalled another. Right now, it’s mostly the lumber costs/availability.
Last edited by K'ledgeBldr; 09-11-2020 at 01:39 PM..
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.
From the Engineering News-Record......"With lumber prices rising sharply, the National Association of Home Builders wants the Trump administration to take steps to halt or reverse the costly trend.
In an Aug. 7 letter, NAHB called on President Trump to push U.S. lumber producers to boost production and also to work toward a new trade agreement with Canada to end current tariffs on lumber imports to the U.S. Those tariffs now are about 20%, according to U.S. and Canadian industry officials.
NAHB says lumber shortages have developed and prices have shot up by 80% since the middle of April, due partly to increased demand for housing construction and more interest from do-it-yourselfers seeking to make home improvements during the pandemic."
At the end of August the WTO sided with Canada in the fight over the tariffs, so maybe something will shake loose to help bring prices down.
I have a neighbor trying to build a fence and her contractor is having trouble getting the 6" posts our HOA requires.
It's true, prices have skyrocketed. It's crazy how much the cost has gone up on materials and is impacting the cost of building. The prices to build a home are consistently rising with no warning.
I was wondering if prices would come down once all this settled. My builder told me he's never seen prices come down. He told me, once price are set, they stay the same or increase.
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.
My builder told me he's never seen prices come down. He told me, once price are set, they stay the same or increase.
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.
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