Let’s be real, the COVID-19 pandemic has shaken things up, especially when it comes to building, materials, and labour costs.
Since the pandemic, the cost of building materials has skyrocketed by roughly 35%. From fixtures to finishes, prices are higher across the board. It’s like the difference between buying groceries now versus a couple of years ago – the sticker shock is real! The demand for skilled workers has surged, pushing labour costs up. It’s great news for the workforce but a bit of a challenge for those of us building our dream homes. Remember when lumber prices went through the roof? They’ve stabilized now, but that initial surge still affects overall costs.
Now, more than ever, we’re committed to quality and integrity. Cutting corners? Never been our style. We’ve adapted to keep up and mitigate the rising costs by finding innovative ways to save costs. For example, improving energy efficiency in your home can reduce long-term expenses. It’s an upfront investment that pays off over time. We’ve even expanded our range of product sources to find the best deals without sacrificing quality. This means more options for you and smarter spending on our part.
But how do we keep your project on time and on budget despite delays and sky-rocketing costs?
Keep It Simple, Silly.
Simplicity isn’t just beautiful—it’s budget-friendly. Elegant, straightforward designs can look stunning and save you money.
Go Local
Using locally sourced products reduces shipping costs and supports local businesses. Plus, local items are usually more readily available.
Skip the Pricey Imports
Those European-sourced items might be tempting but often come with hefty price tags and long wait times. We suggest looking at high-quality alternatives that won’t break the bank.
Make Quick Decisions
Making decisions quickly can significantly shorten your project timeline, reducing holding costs and keeping things moving smoothly.
Navigating the costs of building a custom home in a post-COVID world can be tricky, but it’s definitely doable. At North Pointe Homes, we’re committed to helping you make the best choices for your budget and your dream home. You can build a beautiful, cost-effective home by keeping designs simple, sourcing locally, and making timely decisions.