Probably there is no way that you can get the attention of a contractor to remodel right now. Wait times are 6 - 12 months.

There is little to no way that you will find a reputable contractor for work to be done this summer. Go ahead and get on a list of a trusted contractor. Wait until next summer and hopefully materials will have gone down in price.

Do the remodel as soon as you can so you can enjoy it sooner. The only regret I ever hear from homeowners is ‘I should have done this years ago’

That is a tough question. If you are doing the work yourselves, you will pay dearly for materials right now. If you hope to hire a contractor, in most parts of the country, you can’t find a good one. They are booked out UNTIL next summer. Will materials go down? Maybe But wages will likely go up. I second the idea of choosing your contractor now and getting on his wait list — unless you have serious skills and know your materials are available. In which case, yes, I would do it now and enjoy it.

Just to get our deck repaired we had to get on a wait list in May for work to be done in late Fall. He mentioned he used to quote on cost of materials for a thirty day period and now it’s seven due to shortages and cost increases when materials do arrive. His labour has increased as well, due to his time spent sourcing.

You may be dealing with shortages/delays, higher costs and a shortage of good contractors. Your best bet is to reach out to a number of contractors and get a feel for the situation vs next year or even in 6 months. Their availability and thoughts will help you make a decision and be sure to book in advance.

There is no such thing as "right now". We have always advised that clients plan at least six months ahead of a start date, as in the best of times there is much more involved than generally understood AND thoughtful planning begets a thoughtful result. But NOW, it is important to plan far ahead more than ever. Others have stated the obvious in that quality contractors are booked into next year, materials are more expensive and there are material shortages and delays. Will it be more expensive next year? We'd need a crystal ball, but market indicators would suggest that inflation and other variables will result in continually rising prices. Another factor to consider in your early planning. Like others, we are not even doing consults right now UNLESS it is for next year and we can assess the potential project and client as being a good fit for us. Exceptions are small projects like backsplashes that we might be able to fit in this Fall. To complicate the puzzle, there's this:

"For every five construction workers retiring, there's only one coming in."

~Robin Bartholow. Director of Builders Exchange Workforce Development

These times are crazy!

Even if it were the way it was precovid - It is mid June - summer install schedules are already full.

Go ahead and start planning your project - good design takes time and good designers are booked out 3 or more weeks.

Don't rush it. Do it right , follow procedures and do your homework. Then you will have a happy outcome, even if it is a year from now...

Inflation is real, regardless of Covid. I would be surprised, but happy, if the inflation bubble was over next year, but not holding my breath. I would save my money, and hope for the best.

From cnbc:

The problem is particularly acute in the remodeling business, because the pandemic has caused so many people to want to add additional space, especially outside. Contractors and design firms are caught in the middle.

“Typically we would review cost of materials on quarterly basis and make small adjustments, but because it’s so volatile today, we have to do it every 30 days. We are seeing some lumber products jumping up as much as 25% in a month’s time,” said Rick Matus, senior vice president at Case Architects and Remodelers in Maryland.

“One of the very popular asks from us is can we build a screen porch addition or deck. Compared to two summers ago, a screened porch project, we are probably 15% or 20% more expensive.”

Matus says most people aren’t walking away from projects, just reimagining them. And for those who want it done quickly, that is next to impossible.