Recently did some home renovations and prices are up and quality has gone down IMO.
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Here are some #s for a framing package on a plan I build. It's about 2,200 square feet heated with a 2 car garage.
This is the framing lumber only. No fasteners or house wrap, ect.
It is build on a crawl. This package does not include the roof trusses or the I Joist floor system.
5-7-2019 $10,173.13(I built this house last year)
January 2020 $9,594.94(just plugged in the January pricing to see where it was)
September 2020 $19,660.50(just plugged in the September pricing to see where it is)
I Joists 11-7/8 LPI-42 per linear foot:
May 2019 $3.55
January 2020 $3.55
September 2020 $3.55
According to my monthly quote the I Joists have not changed in price(neither have LVLs). That is strange since the web of an I Joist is OSB.
The I Joist floor system was $5,559.23 in May 2019.
I would assume Roof trusses have increased substantially. They were $9,036.15 in May of 2019.Last edited by GA Bowhunter; 08-28-2020, 04:07 PM.
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Originally posted by Floor Man View PostI would say it will most likely out appreciate the difference but if would have built a few months ago you could have made more.
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The selling prices of new homes will increase. That will cause the comps to increase as well.
There may be some pain in getting financing as the appraisals will have to have some higher priced closings to get comps.
We ran into this a lot after the 2008 collapse.
As prices started going back up in 2011/2012, the appraisals were coming in low. The buyers had to find money to make up the difference.
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I work for a large home builder and I've been told it's going to get worse. Might even stall the market out as the savings in interest rates won't make up for the price increases due to lumber. As I type this I'm working to account for over $17 mil in increases just for our Houston market ($10-30k a house). Houston & DFW were hit harder than our central Texas markets but it's pretty painful across the board. We had record sales in May when things started to open back up and a lot of those jobs are starting now. Going to be some painful margins for sure!
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Originally posted by Erin View PostI work for a large home builder and I've been told it's going to get worse. Might even stall the market out as the savings in interest rates won't make up for the price increases due to lumber. As I type this I'm working to account for over $17 mil in increases just for our Houston market ($10-30k a house). Houston & DFW were hit harder than our central Texas markets but it's pretty painful across the board. We had record sales in May when things started to open back up and a lot of those jobs are starting now. Going to be some painful margins for sure!
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Originally posted by tpack View PostLets say you build a house today with the high price of lumber(if you can get it) and you try and sell it 2 or 3 years from now after the lumber crisis is over and prices have come back down to normal. Are you gonna lose you shirt because you built at the wrong time.
That's the only reason I decided to go ahead with my build, money is basically free. Your investments should make more than 3% which is your interest rate.
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Originally posted by Kooter80 View PostWe started building yesterday. We signed a contract with a builder about 3 weeks ago and the lumber package was 40k. We didn’t do cost plus thank goodness. Our lumber package now is between 50-55k. He said it’s part of doing business and will just have to eat it.
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Originally posted by Kooter80 View PostWe started building yesterday. We signed a contract with a builder about 3 weeks ago and the lumber package was 40k. We didn’t do cost plus thank goodness. Our lumber package now is between 50-55k. He said it’s part of doing business and will just have to eat it.
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Im in Fairbanks Alaska for a couple of days and we had to run into the store to get supplies to take to camp.
Needed 2 sheets of OSB, the Home Depot was completely sold out and Lowes had 3 sheets. Lumber in both stores was basically non existant. Look in the background of picture and you can see the empty lumber shelves.
Here is what we had to pay per sheet.
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