Covid brought a lot of changes to the world. Companies quickly realized that remote work was a viable possibility, mask sales went through the roof, and, most notably for many, supply chains across industries were disrupted. Unfortunately, the home building and renovation industry was not immune to these disruptions, either. And, it seems, given the current trend, that prices for building products and fixtures continue to rise. To complicate matters further, order fulfillment times for some products are still on the high side, too.
However, don’t let this discourage you from your dreams of renovation. Even in our current environment, renovations are affordable and achievable. So, if you’re thinking about pulling the trigger on a renovation, here’s what you should consider as we head into fall and approach the holiday season:
- Start sooner rather than later. Not only are prices of materials increasing, we’re also seeing longer lead times on sourcing of many items. While some materials, such as rough lumber are currently plentiful, others, such as appliances, can take six months or more to arrive after an order is placed. If you were to start the design process now on your renovation project, you’d very likely be looking at a spring completion date, at the earliest.
- Consider the changes that would have the most significant visual impact. Switching up paint colors, swapping out flooring and updating lighting are three relatively simple projects that can provide an immediate change to the entire look of your home. Two rooms in particular that have an immediate impact (not to mention adding to your home value) are the kitchen and bathrooms. These rooms are highly visible as they’re frequented by guests during holiday get-togethers.
- Don’t forget the practical and cost-saving improvements. While they might not be as immediately striking as a change of paint color or shiny new appliances, the entry points to your home shouldn’t be forgotten. Older homes are especially susceptible to drafts. As doors and windows age, their ability to block the cold from getting in (and the heat from getting out) decreases leading to higher energy bills. New doors and windows can dramatically improve your home’s energy efficiency, not only in the colder months but in the warm ones, too.
- Material prices may offer a silver lining. While prices on some materials, such as cabinetry, are still high, we’ve seen pricing on rough lumber (think structural support wood) on the decline since March of this year. In fact, current lumber pricing hasn’t been this low since August of last year.
While no one can say if we’ll return to yesteryears, we can say that we are seeing improvements in the cost and supply chain for many construction materials over where we were in March 2022. But even with supply chain improvements, when it comes to renovations, the key is to be conservative with both your cost and time budgets. That’s why
it’s important to work with a renovation partner that is both experienced and knowledgeable in the industry to help you navigate the intricacies involved in improving your home.
There’s no time like the present to start planning your renovation project. Give us a call at 301-762-6621 and we’ll share everything you need to know about how to get started.