Is inflation impacting new construction at all?

Not sure if anyone out there is into building things from the ground up, but I’m wondering if anyone has noticed the price of materials and labor shooting up much lately.

I know lumber and steel have been all over the place, but even beyond that, are things getting a lot more expensive in general? I was looking at doing some excavation and pouring some concrete at a property I own and I was shocked at how expensive it was.

Maybe it’s just the market I’m in?

@charlotteirwin I know inflation is definitely on the rise right now, but I’m not sure how it’s affecting construction costs.

I think the disrupted supply chain from COVID could also be an issue here. Even if the prices on certain materials haven’t gone up, you may have to wait a lot longer to get certain materials now.

I know a lot of things have a wait time of around 26 weeks (half a year) after you order them, whereas it used to take 4 - 8 weeks to get them. That’s a LONG time to wait for your materials, especially if they cost into the hundreds of thousands and you have to put down 10% - 50% of the money upfront.

Not to mention, this wait time doesn’t even account for the time it will take for the contractors to build/install said materials. Building anything seems to be a pretty lengthy process right now.

1 Like