Building materials are costing more, impacting the construction of new homes
NEW HANOVER COUNTY, NC (WWAY) — The cost of lumber and other building materials is on the rise and it’s having a major impact on home construction.
Home construction across the Cape Fear, and the entire country are taking a major hit from rising costs of building materials.
With the demand for new homes remaining high, home building companies are having to pass those increased costs on to homebuyers, who in turn could face higher tax bills because of the increased value of their homes.
“The consumers themselves obviously are having to come in and look at these price increases if they have a contract with a builder, that could be today or could’ve been 6 months ago, and then you have price escalation going up, and of course the consumer’s going to have to pay those additional prices,” said Cameron Moore, Wilmington-Cape Fear Home Builders Association executive officer.
Lumber is not the only material builders are having trouble buying, they are also struggling to find windows and doors to purchase.
This is impacting the timeline for many homes being built. Windows are usually 4-6 weeks out on an average build, it’s now more than double that.
“They’re now anywhere from 16 to 18 weeks, and now I’m hearing from anywhere from 20-22 weeks, just to get the house essentially dried in and secure, which is a big deal. Windows and doors are very necessary critical path to go to the next step in the construction process,”
Dave Spetrino, owner of PBC Design and Build, says initially there was no concern surrounding the price increases.
“When it started rising, well it had only risen up to where the price really was in 2017 -2018, because it had been so artificially low. When it started extending beyond the things we’d seen in the past, you start to get a little anxious, you get a little nervous, you start asking more questions,” said Dave Spetrino, owner of PBC Design and Build.
Spetrino said his company is now buying materials hoping to plan for future projects in the coming months, trying to beat additional price inflation on materials. They are also warning clients that there may be delays in homebuilding timelines.
“Let’s let’s kind of back up and figure out what’s the right timing for you. You know, instead of moving in June of 2022, is September 2022 a deal killer, and if it’s not, that little bit of breath allows us to take a little more time in the design, be a little bit more thoughtful and efficient in how we select materials, but also solving problems while we wait for the some of the supply chain issues to resolve themselves,” said Spetrino.
The Wilmington-Cape Fear Home Builders Association says the price of materials is increasing on a weekly basis. There has been a 300% price increase in lumber packages alone, since September of last year.