Will construction costs go down?

[desertmama1]

Just about to exchange on a house that will need a lot of work done to it. Current construction costs have increased dramatically, do you think they will reduce any time soon??? Would really appreciate thoughts of people who are in the midst of renovating x

Not any time soon. Inflation is increasing and there is more demand so I think they are likely to go up in the next year or so and then maybe plateau if salaries catch up with cost of living.

I don't think they will go down either. And even if the price of materials were to fall, I don't think the builders would pass this onto the customer.

I don't think so, there is a huge demand for building materials and lots of construction going on

No I work in the industry it’s going to go up if anything, the demand is huge, materials are hard to come by and prices are going up all the time, staff are hard to find and retain, we can only guarantee quotes for a very short time period, crazy times.

No, not any time soon.

We moved into a house that was in fairly good condition every time we viewed it but seems to have been hit by a tornado or something between then and completion... and costs are now so much higher to get anything really done to it.

Budget for the higher price; or prepare to live with it for a decent amount of time, is my best advice.

Thank you everyone for your replies ♥️