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Lumber Costs Can Squeeze Your Budget

Lumber and Plywood Costs Have Increased by More Than 50%,
Putting the Squeeze on Many Home Projects

A squeeze isn’t always a hug and no one likes a hug more than we do. A nice, healthy squeeze just brings a smile to our faces. But the kind of squeeze we in the home renovation industry been feeling lately has had the exact opposite effect.

That squeeze is a little like a chokehold: the trifecta of worldwide supply chain disruption, construction materials cost increases and labor shortages. And here in Delaware, we feel it as acutely as the rest of the nation.

We had hoped that as COVID-19 came under managed control, things would go back to pre-pandemic status. It was hard to imagine the long-term impact of a worldwide pandemic and lengthy manufacturing plant shutdowns both here and abroad. The resulting shortages have not only meant project delays but also have dramatically driven up prices.

As some of you are aware, the price of lumber and plywood has increased by more than 50% since January 2020, recently hitting an all-time high. A worldwide chlorine shortage is causing delays in vinyl fabrication for siding, windows and doors. Glass extrusion lines are backed up and screening material is in short supply, causing delays in window and door installation. These are only a few examples the construction industry is facing.

So, what does this mean for Ferris Home Improvements – and for you? For a company like ours that prides itself on respecting customers’ budgets and timelines, this hasn’t been fun. We assure you that we’re going extra miles to locate materials and keep prices as low as possible. Importantly, we keep our customers well informed of issues or delays that may occur during their project.

These global economic factors may cause some homeowners to scale back or delay home projects. But some items just can’t wait indefinitely, and we find that our customers are continuing to move ahead, especially with important work such as roof repairs, insulated siding and upgraded windows – repairs that will only get worse with the passing of time.

We’re hopeful that as life returns to normal toward the end of this year and into early 2022, materials demand will rebalance and costs will return in the direction they were before the pandemic.  Until then, Ferris Home Improvements will continue to give you the best results at the best prices on the best timelines we possibly can. Give us a call and let’s discuss your needs.