The Roanoker - Sept/October 2021 - 96

homes
A
CONSTRUCTION
COSTS: UP, UP & A
It's not just the outrageous increases in lumber prices.
Construction costs continue to soar in every area. Here's how to deal with it.
By Dan Smith
J
96
ust when we think we have one of COVID19's
life changes under control, another one
comes along to disrupt our lives in basic ways.
The virus pandemic has affected where,
how and even if we work; food prices and
availability, especially meat; used car prices and the
supply; political divisions; and a raft of other daily
inconveniences.
Now, we're hit with construction costs that have soared
through the proverbial roof, leaving shingles all over the
ground. The National Association of Homebuilders says
that building materials have increased by more than 25%
on average in the past year on new single-family homes.
That seems dramatically low. Still, what do you do when
new home prices are out of reach? You renovate.
SEPTEMBER/OCTOBER 2021
But that, too, has taken the long ride upward with
lumber prices often doubling and costs for that lumber
outpacing steel, which is often used in framing.
Design-build company Stevens says that a year ago,
lumber prices jumped 130% and the price of the average
new home leaped upward by $36,000, according to
the NAH. Lumber costs 388% recently, according to
Trading Economics. A thousand board feet of lumber
went from $365 in May 2020 to $1,673 this past May.
Prices dropped in February because of stay-at-home
orders and social distancing. The lumber industry then
depleted its inventories, leading to more price increases
for what was left.
Josh Beisley, an estimator for Building Specialists,
a Roanoke homebuilder and renovator, says, " From
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W
COURTESY OF BUILDING SPECIALISTS INC.

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The Roanoker - Sept/October 2021

Table of Contents for the Digital Edition of The Roanoker - Sept/October 2021

The Roanoker - Sept/October 2021 - 1
The Roanoker - Sept/October 2021 - Cover2
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The Roanoker - Sept/October 2021 - Cover3
The Roanoker - Sept/October 2021 - Cover4
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