Updated Home Renovation Costs What to Expect
Navigating the Rising Costs of Lumber
Lumber prices have been a rollercoaster in recent years, impacting renovation budgets significantly. What was once a relatively predictable expense has become a major variable. While prices have somewhat stabilized after the dramatic spikes of 2021 and 2022, they remain higher than pre-pandemic levels. This means you’ll likely need to budget more for framing, flooring, and any projects involving significant wood components. Consider exploring alternative materials where possible to mitigate costs, such as engineered wood products or different flooring options. Careful planning and accurate material estimations are crucial to avoid unexpected lumber-related overruns.
