Capital Region, N.Y. (News10)-If you’re undergoing a home remodeling or building project, you’re likely facing some challenges. The pandemic certainly caused a lot of backlogs and backups with projects. But this may soon change. News10’s Anya Tucker examined the issue.
Today in Delmar, New York a crew with Bennett Contracting was busy constructing a new front porch.
It’s not a huge project, but it took longer than usual for it to happen.
“Delays continue to be a big issue that pop up,” says Kevin Gutman, Bennett Co-Owner and Vice President.
Companies like Bennett have been facing labor shortages, a rise in material costs and supply chain issues.
“A manufacturer might initially say this is going to take 4 weeks and then a few weeks go by and it’s 8 to 10 weeks.” Gutman adds.
Yet, they are still hammering away!
The contracting and building industry as a whole is quite robust.
Thanks to a shortage of inventory of existing homes which in turn helped fuel a surge in new home building.
or in home owners choosing to remodel.
“The second thing is labor costs, lumber,” says Sean Leonard, Chief Investment officer for Graypoint LLC in Albany.
He says as pandemic restrictions ease up, prices for supplies like lumber are beginning to stabilize.
“And so we expect that that’s going to lead to a stabilization of prices and in fact we are already beginning to see that nationally.”
But until we start seeing that across the state Gutman says, “Be prepared to wait. Because back logs are just increasing. We are booking well into 2022 at this point. Yeah, for our larger kitchen, bathroom design oriented. Which is good because it gives us the space for those wait times and delays.”