Expensive Lumber Is Stalling Home Repairs
Homeowners have had ample time cocooning in their homes during the pandemic to compile their wish lists of repairs. But the stretched out availability of building materials such as lumber, windows, and vinyl siding have put some projects at a standstill and cost increases have pushed repairs, particularly for storm damage, beyond the homeowners’ ability to pay.
Such an uncomfortable and unsafe living environment for a prolonged period of time is a deterrent not just for general updates, but for critical repairs as well, which many home owners are forgoing or having to find creative workarounds to help ensure their home is safe and functional.
“Twice this year I have had to put plywood over a customers’ patio door to prevent them from falling out of the back of their home. Why? Because their deck was unsafe and needed to be demolished, but there wasn’t enough new material available to rebuild it within the value of their home improvement loan when material prices escalated,” stated Jarrett Kravitz, a builder/remodeler from Connecticut.
“Due to rising lumber cost and shortages, we have had to put many projects on hold. This greatly impacts our customers, especially those still attempting to get hurricane repairs done,” shared Gabrielle Pumphery, a builder from Florida. “Insurance companies paid out too many of these customers six to 18 months ago at a rate that was current at the time. This has created a huge difference in money received versus current costs today. A repair project we have had on the list for a year would now cost us almost three times as much to do compared to a year ago.”