Construction costs

actually i was thinking of a way to hedge against consumption by investing in lumber futures - but at this point it might be better to short.
 
Last year, houses in my area were going around $125-$150 sq non water access, $350-$500 sq for water access, now we are at $250 sq non water and $600 - $800 sq water.
 
Ugh, we are currently waiting for design and pricing on a pool house for our future pool, I was stressed before about the project, but reading through this thread stresses me out even more.
There PB is so backed up the pool isn’t going to be started until 03-04/22. So we can wait on the pool house, but do we go ahead and lock in pool house price now, or hope prices go down over the winter and get bids again…so decisions in this new craziness!
 
Most contractors are "pricing" jobs with a materials clause that lets them pass along unexpected cost increases. That little bit of fine print added $2,500 to the cost of a new roof I had installed earlier this year. Quite a surprise when I received the final bill.
 
If it was me, I would do it myself or put all major construction projects on hold until supply meets up with demand again. To pay an extra $200k is simply crazy.
 
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im trying to get an idea of what this project would cost under normal conditions - i wish there was an expert i could pay to look over my plans and give me a price - my architect was useless even though they are supposed to help estimate cost of construction.
 
Most contractors are "pricing" jobs with a materials clause that lets them pass along unexpected cost increases. That little bit of fine print added $2,500 to the cost of a new roof I had installed earlier this year. Quite a surprise when I received the final bill.
Wow, I didn’t know this. Thanks for mentioning it! I’ll be sure to look for something like this is or contracts.
 
Wow, I didn’t know this. Thanks for mentioning it! I’ll be sure to look for something like this is or contracts.
I expected some extra cost because you typically have to fix something when you tear off a 23 year old roof. In our case there was very little damage to be repaired but the shingle cost increased dramatically in the four months between quoting the job and buying the shingles.
 
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I just spoke with a friend who GC'ed her 2017 home build by herself - She paid less money to knock down a house and rebuild a new one 2x the size of my house, than I was quoted for this renovation. She thinks I can save at least $130k by GCing the project myself. How crazy would it be to be my own general contractor? she says she can supply me all the subs she used. I have to assume that in this environment I might have trouble getting subs to show up since I would have zero weight to compete against GCs who have a network.
 
How crazy would it be to be my own general contractor?
We (mostly my wife) did it for a kitchen remodel. It wasn’t a huge project, but she coordinated it all. Interestingly, none of the contractors was considered a sub, but instead a primary for their part of the job. Cabinet makers did their thing, granite people did theirs, tile installers, etc. Maybe we just got lucky, but everything went exceptionally well - much better than projects where we’ve had a GC pushing subs to work more quickly than they should have. Granted, times are different with so much demand and scarce materials now.

Good luck with whatever you decide to do!
 
I just spoke with a friend who GC'ed her 2017 home build by herself - She paid less money to knock down a house and rebuild a new one 2x the size of my house, than I was quoted for this renovation. She thinks I can save at least $130k by GCing the project myself. How crazy would it be to be my own general contractor? she says she can supply me all the subs she used. I have to assume that in this environment I might have trouble getting subs to show up since I would have zero weight to compete against GCs who have a network.

Or they will take your job and then cancel/reschedule last minute. Or the plumbing contractor will send out a crew of worthless day laborers to start the work and they’ll be clueless.

I advise against building right now, it’s only going to 110% frustrating
 
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I advise against building right now, it’s only going to 110% frustrating
I think you are right - i am in a tough spot because I promised my wife we would do this within 2 years of buying the house. It has been 4 - and now it will be 5 - I think in the meantime if I focus my energy on finishing up the pool and landscaping it will take our minds off this. I have the pavers coming next week.
 
I think you are right - i am in a tough spot because I promised my wife we would do this within 2 years of buying the house. It has been 4 - and now it will be 5 - I think in the meantime if I focus my energy on finishing up the pool and landscaping it will take our minds off this. I have the pavers coming next week.

Yeah, I hear ya. But 4 years ago was a completely different universe compared to today. Just the inflationary costs alone are bad but you also have massive labor shortages and a generation of highly unskilled laborers. As my friend who owns a large scale painting business says - “For over 30 years we were telling kids and parents you have to go to college, college, college if you want to have a good life. And, by and large, people listened to that.” So now we have a workforce full of young adults with literature degrees and no one knows how to turn a wrench anymore. The skills and experience mostly reside in the older tradesmen and they are retiring and leaving the workforce in droves. What’s replacing them are basically unskilled workers that don’t know how to do much more than follow directions (assuming they’re sober enough to pay attention). It’s really sad.
 
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