On today’s show we are talking about how conditions are normalizing in the world of construction.
After two years of absolute insanity in the world of construction, lead times and inventory seems to be much more sane.
One of the contractors I spoke with today recently priced the wood framing for an apartment project at $20 per square foot on a turnkey basis. That’s inclusive of labor and materials. Earlier this summer, similar quotes were coming in at nearly double that amount or about $40 per square foot.
Only a few weeks ago I was quoted 14 weeks for glass patio doors. Yesterday I was quoted 5-6 weeks lead time.
I can tell you that we are approaching construction projects with a renewed sense of confidence. We are still shopping around for bargains. This is necessary at any point in the economic cycle. But it’s particularly important in today’s environment which has not fully normalized.
But in all cases you need to make sure you are ordering products that meet your local building code. For example, some areas don’t allow the framelsss glass railings for balconies. Some products sold online for installation in the electrical system don’t meeting all of the specifications for the local electrical code.
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Host: Victor Menasce
email: [email protected]
The Real Estate Espresso Podcast (00:04:34)
