Remember almost 2 years ago when everyone was racing to every store across the country (and even in other countries) to stock up on toilet paper? There was a limit to how much you could buy per trip, and everyone was buying everything they could get their hands on. Prices on toilet paper even increased at certain stores because of the shortage.
Similarly, there is now a significant shortage of materials needed to renovate your home. Some of these materials are impossible to find, the prices have skyrocketed, and it can take months before stores get them in stock.
2020 and 2021 have been difficult years for everyone. The pandemic has affected everything we do, from work, school, shopping, and now, construction. There has been a substantial lumber and material shortage in the past year due to the demand, shipping issues, and production halts.
Unfortunately, that has affected people worldwide, including us here at Modern Valley Construction. This shortage is especially difficult when you may want to renovate your home because the lack of supplies available can significantly impact the timeline of your projects. Often, this shortage can add months to the length of your project strictly because of the lack of materials available.
So you know there is a lumber and material shortage, but what impact does that have on you and your project? There are a lot of things you should know before starting a remodel or renovation; let’s dive in.
It is confusing to try and understand what caused this shortage of materials in the first place. This shortage originally was just lumber, but over the past year, it has expanded, and we are now facing a shortage of construction materials of all kinds. The leading cause of this shortage is the supply chain interruptions across the country.
Not only is the supply chain facing a delay, but there has been a massive increase in demand for lumber and construction materials. People have more time than ever because of the closures throughout the country, and many people are working from home. Because of this, more people want to renovate. These renovations could be simple DIY projects or extensive kitchen and home renovations. This increased demand, paired with decreased supply chain, has resulted in a significant supply shortage.
There has been a large increase in demand for construction workers across the world. Usually, this would be exciting. But, the material shortage has made this demand increasingly hard to keep up with for construction companies across the country.
According to a report done by World Construction Today, 71% of contractors are facing a material shortage of some sort. The majority have faced lumber shortages, but others face wire, lighting, appliances, and other supply shortages.
With the demand increasing and supply decreasing, these supplies have become a sought-after commodity, raising the prices exponentially.
These shortages are also causing timelines to be extended by months. Before starting your project, know that the timeline may need to be extended in order to get all the supplies you require.
Materials of all kinds have faced a significant increase in costs. Steel and lumber both face large, steep increases in price. There are very few renovations that can be completed without lumber, steel, or wires. So not only is renovating your home now going to take longer because of supply chain delays, but it will be more expensive.
The government places a tax (tariff) on goods that have been imported from other countries. The tariff on Canadian lumber was lowered in December to make the cost more affordable, but unfortunately, the price may remain spiked because of the great demand. Even with a lowered tariff on Canadian lumber, prices may remain high because of the demand from construction workers and the general public.
In fact, lumber prices have increased by over 300% in the past year. This increase has been one of the largest spikes in the cost of lumber in history.
In order to minimize the delays faced by construction companies, many have begun to find alternative materials that are used instead of waiting for the supplies.
Companies have started looking for alternative materials for everything from wood paneling, insulation, ceiling joists, and pipes. While these alternative materials may help the timeline, there are some downsides. They can be more expensive, adding to the already steep price of renovations.
No one can be sure when the supply chain will improve or when demand will become more regular again. These alternative materials may be the best option for some people because there isn’t an end in sight for the supply shortage. For some, the price increase may be worth it to get your project done within your timeline.
At Modern Valley Construction, we want to do everything we can to make your experience renovating or reconstructing your home as simple, timely, and affordable as possible.
To help make sure this is a smooth process, we aren’t starting any projects until we have all the supplies on hand. Suppliers often say that a specific item is two weeks out, but then the product or item is delayed and doesn’t arrive for several weeks (or even months).
While waiting for your project to start can be annoying, we believe it is better to wait before we start renovations than to be stopped halfway through due to a lack of supplies. It is easier, more convenient, and an overall better experience if you are able to use your bedroom, bathroom, or kitchen while we wait for the supplies. Once we have the supplies on hand, we work our hardest to complete your project within the timeline.
Waiting for your kitchen renovation to be completed after it has been demolished because of the lumber shortage is unpleasant for everyone. It is simpler and more streamlined to wait for materials before demolishing it.
We are trying to do everything we can to complete your projects within the timeline and your budget. This may take extra time, but our goal is to make this process as stress-free and simple as possible. If you have more questions about what we are doing to help you during this time, please contact us.
Whether you are doing a smaller DIY project or a more extensive remodel, you should think about a couple of things before starting.
You need to think about the types of materials you need. It can be beneficial to head to your local store and ask about the timeline for these materials. Often, you will need to order these materials before you want to start your project.
You may also want to consider the price of the materials and how these fit within your budget. Sometimes, you will need to change your plans or alter your expectations in order to make everything work within your budget during this time of increased prices.
Finally, you should think about and plan your timeline. While we continue to face the materials shortage, projects may take longer than they usually would. Unfortunately, this means that you may need to change your expected timeline and have patience when it takes longer than expected.
Check out this fantastic article for a complete look at things to know before starting a remodel.
Even during this supply shortage, you can still complete the project of your dreams; you just may need to have more patience.
The supply shortage is impacting people all across the country, and we are doing everything we can to keep this process as simple and stress-free as possible. Contact us today to set up an appointment. We are happy to answer any questions you may have or meet with you to discuss how we can help you with the project of your dreams.
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