We’ve all heard about recent bidding wars for homes for sale, even those properties that just one year ago may have sat on the market for months. That demand for new homes, old homes, remodeled homes and bigger homes is one of the driving factors increasing prices for anything house related. Demand is far outstripping supply, especially in the lumber and plywood markets. Add to that crazy mix, tariffs, labor shortages, delivery and supply chain issues, oh, and one worldwide pandemic and you have a home building and remodeling market like no one could have imagined. House prices are 10-20% over asking price. Lumber and plywood costs fluctuate between 80-120% more than the previous year and other items like planting supplies, windows and appliance can be double the usual price if they can be found in any larger quantity.
What to do about these high prices? Well, depending on your project, you may want to delay it for a period of time until prices level off. You could also change the material you are using or change the focus of the project to parts that are most affordable. If you simply want or need to get it done now, read below for the latest 1% home improvement programs and the always flexible FlexLoan.