Loft conversion price increase

[organicapricot]

Just wondered if anyone else had the same experience with building work recently? We were quoted for a loft conversion which starts this summer. They have now told us that due to supplier cost increases, cost of materials etc they need to increase our price. I feel like we don't have a choice as we want the work doing, we have paid a deposit and moving to another builder would mean a delay and possibly the same situation anyway. Is this happening now with building work? I'm just nervous they might keep upping it.

We are midway through a large renovation project. It’s costing much more and taking much longer. We are spending half the time just waiting on things due to shortages and long lead times.

My extensive renovation is coming in 50% over what I expected. Builders are in demand and supplies low at the moment.

Products have got up exponentially at the moment. We had a similar situation with some decking. I think all quotes you got would now be higher.

We had several quotes for a loft extension last year (got delayed due to planning permission) We have been told by multiple builders that prices have gone up and there are supply shortages. Very annoying!

The combination of Brexit, covid and the ship stuck in the Suez has led to real supply difficulties for building materials with the price rises following if your builder can even get hold of stuff.

Materials are def costing more, we are mid renovation and the wood we get for various projects is nearly double what we paid 6 months ago....

Builders are also hoarding supplies where they used to have daily deliveries because they can’t guarantee what they need will be available.

My friend bis a builder and he is acting to re-quote for jobs left, right and centre. He's not making any more money, it's purely the costs of supplies.

I have heard building materials are in short supply.

I’m working in construction and our quotes are just going up and up to cover these timber increases

We’ve been told of more increases coming soon too

It’s ridiculous

I want my own loft converting but can’t afford to at current rates

Hope in a few years time the material prices have settled again

Yes, same here.

Just had ours done and we paid exactly the same as we were quoted last year.

We were planning to start a big renovation in a few months but might put parts of it off (if we can) because of the increasing costs of materials.

Thank you. Guess we just need to swallow it then. Better get it in quick before they go up further.

The problem is that when prices rise they rarely go back down again.

We were quoted for two bathrooms being done. One has been finished and the bill matched the quote for both rooms. Now we have to find another couple of grand to get it finished.

Oh god I'm panicking now that my fence job that's been booked for next week a couple of months back might cost way more than quoted. I don't think I can afford it if that's the case 😢

Another who works in construction- it's materials- massive shortages globally for various reasons have pushed up prices and lead times. It's going to be particularly bad for next 6-12mths. For example the cost of timber has gone up by 80% in the past 6mths.
It's across the board so going to another builder isn't likely to help although domestic builders are likely to be hit first and hardest.
I've been advising clients for the past few weeks about the impacts and have pushed a few projects to hopefully miss some of it.
It's a bad time to be doing construction work.

I’d check the fence price before they start. You might be ok if they only do fencing and carried loads of stock

Wow! I didn't realise prices had increased so much.

Our overall costs have increased by many thousands (but it is a large project). Fortunately we can afford it but it’s upsetting to be spending so much more than we’d anticipated and I’m sick the extended lead times on everything. Windows, doors, timber and steel have all proved problematic so far and I suspect roof tiles will be next. Even paint costs are going up.

I’m in Canada, the cost of everything is doubling at least!
The price of wood is absolutely outrageous.

We’ve been told it’s due to covid, and getting people into the mills

Yes getting building materials is a big problem, we have just had a garden room built, the company were saying they are having problems buying timber, undercoat and exterior paint.

They said they had heard China were buying up supply, who knows, but will definitely lead to cost increase and supply chain issues.

As companies are making sure they buy more than they need, as they can’t guarantee these items will be in stock when they need to buy them.

Will prices ever come down again? I wanted a loft conversion but sounds like it might be cheaper to just move house!

If you haven't started yet then i'd put it off - prices will come back down in time.