Tips to Control The Rising Cost To Build
If you’ve been to any hardware store lately, you may have noticed that lumber prices are higher than normal. Lumber isn’t the only building material to be subject to a price surge! The price of steel affects almost every aspect of commercial or residential construction. While we can’t control the cost of these valuable materials, we do have some tips to help you control the rising cost to build as much as possible.
What Is Causing The Price Surge Of Steel?
As a result of the global Covid-19 pandemic and recession, we noticed the interruption of supply chains across all industries. While construction initially slowed down last year, it began to ramp up again in the summer and through fall. Now with building demand high, supply shortages are driving the costs up. In addition, long lead times are affecting project timelines.
What Can You Do To Combat The Rising Cost To Build?
Dunlap has been working closely with our suppliers for decades, and they keep us up to date about costs and lead times so we can factor that in when quoting projects. To help offset the upfront cost of materials, here are a few tips:
- Start early – get your ducks in a row to begin your project as soon as possible, so you can go ahead and have materials ordered that may have long lead times. With prices expected to continue to rise through 2021, the earlier the better. If you’re considering a commercial build, let’s sit down and discuss your ideas and what may be affected by the current shortages.
- Prioritize project management – with volatile pricing and scheduling, project management is more important than ever. To keep your commercial build on track, you’ll need an experienced contractor to navigate these complicated waters.
- Keep design changes to a minimum – once materials are ordered, changes contribute to rising costs of the project overall. Make sure to have a detailed design plan, and avoid those last-minute changes.
- Communication is key – your contractor should communicate with you about the status of your project and any issues that may crop up. Tackling these problems early and coming to a resolution keeps the project on track. A good builder will be in touch with you every step of the way.
We know it’s frustrating to build during a time when material costs are so high, but there are ways we can help you keep your project on budget and on time. Dunlap is an experienced commercial contractor, and we have weathered many such times with surging prices and shortages. As a result, we are well versed in handling builds in any less-than-ideal condition. Give us a call today to discuss your next project and how we can make the process as smooth as possible.
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