How Does the Rise in Lumber and Material Affect Your Home Improvement Project?

Pallets of lumber

In the world of home exterior solutions, we’ve never been busier. There has been a nation-wide shift from homebuyers building new homes to renovating and improving the homes they are already in. According to Porch.com, there has been 330 million U.S. Google searches for home improvement work in summer 2020 — a 50% rise from summer 2019. Additionally, HomeAdvisor has reported a 17% increase in consumer spending on home improvement projects.  

The O.C. Taylor team has felt this demand. We’ve been busy working on reside projects, enclosures and much more for homeowners in the Raleigh area non-stop. In fact, we are already booking projects for early 2021!

It’s safe to say that we won’t be forgetting about the events of 2020 anytime soon. COVID-19 has had its impact on every individual, business and industry in its own way. Restaurants were affected by having to close their doors for a time. Appliance manufacturers faced a demand that their plants weren’t able to appease.

Yet now a new development has impacted our industry… the rise of cost in materials, especially lumber, and a shortage of inventory. The supply chain has been affected by COVID-19  according to the National Association of Home Builders and lumber costs for average single-family home construction have spiked by 130% since April 2020. As a result, new homes have increased an average of $16,000. 

For contractors that offer home exterior solutions and home improvements such as O.C. Taylor Smart Exterior Solutions, we’ve felt the impact in a few different ways. The prices of materials needed for window, door and roofing projects have indeed risen, making us all adapt and pivot. We have also seen a delay in delivery for these materials, extending completion days. Dimensional framing materials have one of the most significant rises while treated lumber is difficult to obtain. Meanwhile, permits are very slow in part due to teleworking delays. We thank all our customers for their patience and understanding while we face this nation-wide situation.

One thing is very important to remember: waiting may not be the best answer. There is no guarantee that pricing will come down anytime soon, or even maintain a reliable plateau. The best move you can make is to contact our owner, Brent Taylor. He is currently advising a number of Triangle homeowners and making the best recommendations for timing of their project and maintaining a budget. It’s times like these that it’s important to go with a trustworthy professional that is concerned about their customers and their homes. That’s what you get with Brent and the O.C. Taylor Smart Exterior Solutions team.

Amongst all the uncertainty, however, there is some great news for our customers. None of this currently affects the supply of LP® SmartSide®, the incredible industry-leading siding O.C. Taylor offers! Even better, you do not need a permit for siding projects in North Carolina. The only thing holding you back from new siding is, well, nothing!