Renovation costs have been climbing steadily, with lumber, steel, and concrete among the hardest-hit materials. Global supply chain issues, inflation, and higher demand are driving prices up making renovations more expensive than just a few years ago.
How homeowners are adapting:
Many are choosing smaller projects, phasing renovations over time, or switching to more affordable materials like engineered wood or laminate. Some are also focusing on high-impact, low-cost upgrades such as painting, lighting changes, and fixture replacements instead of full remodels.
How contractors are adapting:
Contractors are becoming more transparent with pricing, locking in quotes earlier, and suggesting alternative materials to stay within budget. Many are also working closely with clients to prioritize essential repairs before luxury upgrades.
The bigger picture:
While rising costs pose challenges, they’re also encouraging more creative, cost-effective approaches to renovation.
Conclusion:
Rising costs may be tough, but they’re also driving smarter, more creative renovation choices for both homeowners and professionals.
.