Have you been to a building supply store recently? Supply is down and costs are up!
During the month of May 2021, builders are reporting shortages of framing lumber, plywood, windows, doors, plumbing and roofing supplies. The shortage of supplies is driving up the cost of the materials that are available.
In addition to materials shortages, 52% – 74% of builders are also reporting shortages in labor areas such as plumbing and roofing.
When you put this all together, the higher costs of material and labor make it more expensive to repair or rebuild your home. This means that you will probably see an increase in your homeowners insurance rates.
Check with your insurance agent to make sure you are taking advantage of all available discounts! Check back for our next blog on some areas that you can check for discounts.