The building industry cannot escape the law of supply and demand.
Recently there was an article in an online roofing magazine (RoofingAuthority.com) reporting a double digit increase in the price of shingles. The increase is due to the increased demand for shingles in the aftermath of hurricane Sandy. Imagine the huge number of roofs needing to be replaced after the devastating hurricane. Manufacturers shipped large supply orders to the east coast, leaving less for the rest of the country.
Since then, the midwest and east coast have suffered several more winter storms that have caused roofs to collapse, trees to fall on homes, and homes to fall into the ocean. As insurance claims are paid, spring arrives, and repairs begin, imagine the increased demand for building material supplies.
Forget the fact that the cost of living increases prices almost every year anyway. Add a disaster or two on top of that, and you’re looking at a situation that’s going to drastically increase the cost of home remodeling. This is, no doubt, disappointing to a home owner. It’s also a situation that’s out of the control of the builder. Needless to say, as the cost of materials rises, so does the estimate for the project as a whole.
If you need a current estimate for home renovations in the South Coast and South Shore areas of Massachusetts, give Innovation Construction a call at 508-291-4907.