Thx, I think I'm going to give it a little more time before I commit.

Dimensional Lumber decreased while composites have been increasing

Bill:

Please pay attenition to the gargantuan trillions of dollars your government is printing and spending. That has to create inflation as much as gravity causes you to fall down. Prices are going to skyrocket, trust me.

Yes, INFLATION! Disregard the media lies, actual on-the-ground shopping shows 20-60% food inflation over a year ago, and continually rising. The cost of fuel alone will raise those heavy housing components.

And it’s just starting…

Thx everyone for the comments. appreciate it.

No one is guaranteeing any pricing. My builder said the roofer is now giving quotes that are only good for 3 days! Builder just lost a job because the homeowner wanted a fixed price contract. Builder wasn't willing to take on that level of risk after what happened this past year with some of the prices and/or material shortages.

When you stated only a $9K increase, I thought: "He's really fortunate." In my high cost area in the Pacific NW, I know some people who have seen six-figure increases in their estimated quotes over the last year. All I can say when I hear you say: "I think I'm going to give it a little more time before I commit," is that I have yet to know of anyone who has seen the price of building a home decline by waiting. If materials do come down any time in the near future, the increase in wages will kill you. Good luck with waiting, but, in my experience, putting off building usually doesn't work out well financially.

OP stated that was a 9K increase from the end of April (assume 2021) Sure it would have been similar with that time frame

Lumber & sheathing prices are dropping, and fast. But all the other goods are staying true or still increasing. Siding, Windows, Doors, cabinets ect. are all flat to increasing. Labor shortages are creating increases in wages, these increases are being seen in contractor rates as well. Anything with steel is still going up.

You plan to wait, might be a good idea, might be a horrible idea. The wage increases is what will affect things the most in my opinion. I wouldn't wait if I were you. On a $500k project, the lumber & sheathing are probably about $80k or so. The rest of the approx. $420k worth of goods and services show no signs of going down.

Best of luck

Thanks for the great input everyone.

We've changed our minds on waiting.

Regards,

Bill

Good luck with your build. I think you made a sound decision that will minimize the potential for even worse future financial hits than you've experienced. And you'll be able to move in sooner. 😁