Why is Remodeling So Expensive?

Labor and raw goods shortages are resulting in materials and trades prices coming in at an all-time high. However, resorting to cutting costs could cost you in the long run. Refine your scope rather than cutting corners to ensure your project gets done the right way and that you achieve the beautiful result you are expecting from your remodel.

2 Min Read

materials COSTS

Costs for both materials and trades are currently at an all-time high for a number of reasons, most of them still resulting from the pandemic and an unprecedented increase in demand. High material costs are due to a shortage of raw goods, labor shortages, (causing an increase in the price to make the goods due to company turnover, loss of revenue with inadequate product quality), tariffs (I’m not even going to get into this one), and freight issues (there aren’t enough containers to ship items from overseas, the ports are backed up and there aren’t enough trucks to transport the goods once they finally arrive at the port and are unloaded- causing freight to skyrocket).

TRADE COSTS

Trade (labor) costs are at all-time high because all the material issues are making everything take twice as long. I am spending more time checking inventory and availability, tracking products and lead times, dealing with issues getting approved and ordered items delivered, and finding replacements for damaged or delayed goods than I ever thought possible. And with every delay in product, trades need to be rescheduled. We are spending less time doing the actual work and more time tracking products and coordinating schedules, including constantly pushing things out (causing project delays for everyone involved and severely cutting back the number of “billable” hours that can be worked in a week compared to what was previously possible). Additionally, it is becoming increasingly common to do partial installations with return trips to complete projects that should have been done in a single installation.

“Doing things the right way is pricey, but cutting corners can result in long-term dissatisfaction with your home”

Doing things the right way

The number one regret my clients have is poor craftsmanship resulting from cutting costs. Everyone has to draw the line on their spending somewhere, but I recommend cutting the scope of the project to ensure things are done the right way rather than using inferior products or labor to keep costs down. Not spending the money to smooth out a wall before installing wallpaper can result in result in what was supposed to be a focal point becoming an eyesore. Hiring an unlicensed trade can result in sloppy work, unfinished work, or even a lawsuit if they are injured while at your home.

Doing things the right way is pricey, but cutting corners can result in long-term dissatisfaction with your home. My number one goal is that you are happy with all of the work that is done and that you don’t throw away money re-doing any of the work.

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