DOUBLE CHECK YOUR PRICES - RIGHT NOW!

We just wanted to put out a quick blast mainly directed at our design and developer clients, friends and counterparts. We are seeing severe increases in lumber, cast iron and copper. Availability of materials is scarce, and the cost is much higher than normal. We have seen lumber packages increase by 40% lately, and a lot of standard material is being substituted with other available items that are not always to spec. So, out of spec and higher priced materials - you can see the issues that this is causing.

Before you sign the contract, allocate the funds for the job, etc., please go double check your pricing with your suppliers, your subs, your contractors and your estimating consultants.

Such is the nature of our business, there are ebbs and flows over the years but it is especially different right now and such differences require special attention to the project costs.

In addition to materials, the labor shortage is real. Labor shortages affect productivity, which affect schedule, which affects costs- and it continues to roll down the hill. Be sure you are accounting for potential lesser productivity and delays as not doing so properly can affect your bottom line.

Please do yourself, your project and your budget a favor right now and reach out to suppliers to make sure you have updated pricing. No one likes getting caught by surprise.