COVID has caused a variety of unintended consequences, one of which being a rise in construction costs, especially lumber. The National Association of Home Builders recently reported that lumber prices in particular have gone up by more than 130% since April of 2020. This is a huge increase for any project and it has caused construction costs as a whole to balloon as well.
There are a number of reasons why lumber prices continue to rise, a few of which include:
At Prince & Sons, we’ve always been completely transparent with our clients about all things, including rises in supply costs. To help offset some of the uncertainty surrounding rising costs, we’ve started to procure all materials for a job prior to starting work to ensure that we can control costs as much as possible. This obviously doesn’t affect any changes that are made during the job, but it does give us a better idea of our costs and also allows us to be in a better position should the building industry experience further shortages.
If you’re interested in talking with our team about a home renovation project, don’t hesitate to reach out to us today. You can always fill out our online intake form to tell us a little bit about your project or you can give us a call at 919-383-0888. We look forward to learning more about your renovation needs.