I'm considering a home addition before the year's end, but I'm worried about how the ongoing trade war could affect material costs, particularly for lumber and steel. Should I move forward with my plans or hold off?
4 Answers
It's tough to say for sure. A lot of people are rethinking their projects lately. I was about to jump into a big renovation myself but decided to shelve it because of the recent market changes. If it's something essential, like needing more space for a growing family, that might change things. But if it's just an upgrade, it might be wiser to wait until things stabilize. Instead, I've opted for smaller projects around the house that we've been putting off anyway, like updating flooring and windows.
I think the safest choice is to secure your finances first. If you have the funds ready, starting now might be a good plan, especially since prices could continue to climb. Just remember, the sooner you get it done, the sooner you can enjoy the new space!
Honestly, from what I've seen, prices are likely only going to go up. If you can lock in a price with your contractor, that would be the best route. Otherwise, you're taking on a lot of risk if you wait and costs fluctuate unexpectedly.
I understand the hesitation! I locked in the cost for my barn project when I signed the contract, which definitely eased my worries. A reputable builder should be able to offer something similar with clauses covering any surprises that may arise.