Coming off the heels of a landmark 2015, the construction industry is looking forward to another historic year in 2016. With the continued uptick in construction, there has been a rise across the board in new construction, remodels and expansions in all areas of building: residential, commercial and industrial. What does this mean for your spring/summer remodel plans? To put it simply, the clock is ticking, contractor availability is limited, and you may end up having to go the DIY route.
Homeowners looking to embark on a remodeling project this summer won’t be immune to the effects of this current boom, which looks to be gaining steam and is not expected to slow down anytime soon. In fact, an industry report predicts that total U.S. construction starts for 2016 will rise 6 percent to $712 billion, following gains of 9 percent in 2014 and an estimated 13 percent in 2015, according to the 2016 Dodge Construction Outlook from Dodge Data & Analytics, a leading provider of data, analytics, news and intelligence serving the North American construction industry. Compounding this issue, the unexpected wet weather early this year has pushed some construction jobs back and the delays will further impact an already crowded construction market this summer.
What does this all mean and how does this trickle down to the residential level and affect the average homeowner?
Contractors are well aware of the market conditions and are currently planning out their backlog of projects for the year. The most lucrative and worthwhile jobs, as well as the ones that provide the most flexibility, will rise to the top of the list and attract the best talent. This means a more competitive contractor market and a very likely shortage of manpower; that’s already the case now with skilled tradesmen such as electricians, who typically are more available during this time of year.
One way to combat this wave of construction, apart from just simply riding it out, is to get a jump on it. Most contractors are still coming out of their slow season and with a relatively wet winter (compared to in recent years), some projects have been delayed or scrapped altogether. Subsequently, that makes the labor pool ripe for construction work now, before the much-anticipated ramp-up of the summer months.
By prioritizing what remodeling projects need to be done first and what’s most financially feasible, homeowners can save hundreds or even thousands by jumpstarting a home project in the spring rather than the summer. The longer the wait, the more expensive it will become, as quality work will come at a premium.
Of course, this doesn’t mean rush to get that kitchen wall knocked down as soon as possible. Instead, start thinking about what you really want to be done around the house and begin taking the right steps toward that goal.
KitchenCRATE Can Help! Contact Us Today!
Kitchen and bath CRATE deliver on both time and quality, giving you the best of both worlds without having to sacrifice in the current construction landscape. The most important thing, though, is to act sooner rather than later. Because that summer project may not be realistic anymore if you actually wait till summer!
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Scott Monday is co-founder and CEO of kitchenCRATE and bathCRATE. Follow him on Facebook or Linked-In.
