NEW HANOVER COUNTY, NC (WWAY) — The cost of lumber and other building materials is rising, and it’s having a major impact on building homes.
Home building in Cape Fear and across the country is being hit hard by rising building material costs.
With demand for new homes remaining high, home building companies must pass on these increased costs to home buyers, who in turn could face higher tax bills due to the increased value of their homes.
“Consumers themselves obviously have to come and see these price increases if they have a contract with a builder, it could be today or 6 months ago, then you have a price increase, and of course the consumer will have to pay those extra prices,” said Cameron Moore, general manager of the Wilmington-Cape Fear Home Builders Association.
Wood isn’t the only material that builders are struggling to buy, they are also struggling to find windows and doors to buy.
This impacts the construction schedule for many homes. Windows typically takes 4-6 weeks on an average build, now it’s more than double that.
“They are now 16-18 weeks, and now I hear 20-22 weeks, just to get the house basically dried out and secured, which is a big deal. Windows and doors are a much needed critical path to take the next step in the building process,”
Dave Spetrino, owner of PBC Design and Build, says initially there was no concern about price increases.
“When it started going up, well, it had only gone up to the actual level of the price in 2017-2018 because it had been so artificially low. we’ve seen in the past, you start to get a little anxious, you get a little nervous, you start asking more questions,” said Dave Spetrino, owner of PBC Design and Build.
Spetrino said his company is now buying materials in hopes of planning future projects in the coming months, trying to combat further material price inflation. They also warn customers that there may be delays in home construction timelines.
“Let’s backtrack a bit and figure out when is the right time for you. You know, instead of moving to June 2022, is September 2022 a deal killer, and if not, that little breather allows us to take a little more time in the design, to be a bit more thoughtful and efficient in how we select materials, but also problem solve while waiting for some supply chain issues to resolve themselves,” Spetrino said.
The Wilmington-Cape Fear Home Builders Association says the price of materials is rising every week. There has been a 300% price increase for lumber bundles alone since September last year.