Lumber is one of the best materials for roofing, and before the pandemic, it was inexpensive. However, times have changed! You may have heard about the surge in lumber prices recently. With the recent price hike, the cost of 1,000 board feet (bd ft) is now more than $1000, significantly increasing house renovation costs for homeowners.
If you’re considering a new roofing project, it’s natural to worry about the price hikes of lumber for roofing. Here are why lumber prices increase and how they affect roofing prices.
Why Are Lumber Prices Increasing?
The pandemic prompted a surge in home improvement projects – such as building new homes, additional rooms, residential roof trusses, decks, doghouses, and home repairs. This unexpected shift in consumer behavior exacerbated the challenges faced by roof wood producers.
On the other hand, the global pandemic outbreak hampered the production of lumber companies like most other industries. Additionally, many sawmills started to cut down their production due to the uncertain state of the economy.
Since they weren’t prepared for the skyrocketing lumber demand, their prices became unimaginably high. The sudden increase in renovations, slow production capacity, and reduced sawmill capacity all contributed to the volatility of lumber prices.
After seeing the high demand, sawmills started to produce at total capacity but still failed to meet the high demands. Plus, transportation delays and warehouse work shortages led to even higher costs. These factors are still in effect and are causing the high roof wood prices.
Impact of Lumber Prices on Roofing Costs
The overpriced lumber raises the overall costs of the roofing projects. Both homeowners and commercial contractors are facing trouble due to the high lumber prices. Since lumbers are one of the vital roofing materials, the costs of building roof trusses are affected, too.
There’s more! The labor costs have increased along with the lumber costs. And so, you need to spend more on skilled laborers during a roofing project. Since roofing contractors also have to buy lumbers at higher costs from suppliers, they struggle to offer lower rates when quality isn’t compromised.
Tips for Homeowners and Contractors
Lumber prices falling is like a dream now. But that never means you should stop building homes, residential roof trusses, or repairing roofs. We all need to adapt to these challenges, finding new ways. Here are some neat tricks you can follow to make the most of your roofing project:
Compare Prices: Look for multiple lumber suppliers and compare their prices. This way, you might find lumbers at comparatively lower costs. Consider choosing the best materials that are more cost-effective.
Seek Expert Advice: Work with expert roofers who can optimize your project and reduce the overall costs. An experienced contractor can help you mitigate these challenges by offering their expert advice and skills.
Should You Wait to Replace Your Roof?
When are lumber prices falling? There is a low chance of that. Industry experts expect a rise in the prices of lumber for roofing. Therefore, if your home needs a roof replacement or repairs, it’s best to get on with it. Otherwise, delays can create more hassle for you, increasing the overall costs.
When you see a prediction of a price hike in roofing materials, the best way to keep the cost at a minimum is to act now! No matter when your replacement is due, you should always plan and compare the prices of different contractors to save costs.
Call Jack C Wilson Experts for Cost-effective Roofing
In the era of costly materials, roofing projects can be challenging. With our skilled team, you can rest assured that your roofing project will proceed smoothly without incurring unnecessary costs.
Our 75+ years of experience and certified technicians give us the confidence and strength to become your roofing partner. We offer all roofing services to meet your needs. Would you like to know how to lower your roofing costs? Contact Jack C Wilson to learn more about our working process and get a quote.