Many businesses can’t (or won’t) be able to delay building or renovation projects any longer despite the fluctuating materials pricing and supply chain logjams that we’re currently experiencing. Contractors across the country are finding ways to circumvent these construction challenges and avoid passing along these costs to clients. Still, the struggle is expected to continue with increasing material shortages. To mitigate these construction challenges, project managers and stakeholders need to know what they’re up against.
Why Are Prices Rising?
The commercial construction industry saw a steep decline in growth at the beginning of the pandemic in early 2020. While that presented several construction challenges for contractors, it was just the beginning of a series of events that experts say creates a “perfect storm.” Hurricanes and flooding bogged down already-slow supply chains, and 2021 began with a winter storm that temporarily crippled a large part of the logistics infrastructure in areas of the country.
This has led to shortages in fundamental construction materials, and when availability dips, costs sharply increase. While there was somewhat of a reprieve from high prices in the summer of 2021, supply chain issues have again spiked heading into 2022. Lumber and other supplies are such hot commodities right now, with some contractors reporting job site thefts of construction materials .
So What Happens Next?
It’s unclear how long the material shortages will last and how much prices will increase before the bubble pops and supply chains open up again to allow for a freer flow of supplies — but experts say the day will come soon enough, perhaps within the next year or so.
While the seemingly easy option is for facility managers and property owners to put off commercial construction projects, that’s not often practical or even feasible. To avoid paying more for these projects than necessary, work with experienced contractors that have a beat on suppliers who can provide materials and commercial paint at prices that won’t blow facility improvement budgets out of the water.
Suppose your commercial construction contractor isn’t transparent in their communication about pricing. In that case, it may be time to find a new partner that can be open and honest about potential price increases. If your project involves a team of contractors, ensure that they’re all communicating with each other to avoid any other missteps that add to the cost of your commercial construction project.
Talk to Us
We’re well aware of the increasing prices of commercial and construction, and we’re doing everything we can to minimize that cost for our clients. We are dedicated to competitive pricing combined with the highest quality union workmanship and responsive service. Working with us as a commercial construction partner ultimately means total success.
Let us leverage our connections and relationships with subcontractors and vendors. Our solid background in carpentry, concrete, and construction management allows us to take on any large or small project. Our firm commitment to quality and safety, along with our use of the finest subcontractors, will enable us to produce a superior product.
We employ only the best union carpenters and laborers and personally carry out many tasks. Our ability to independently perform structural concrete, metal studs, drywall, doors, hardware, casework, and millwork eliminates the need for many subcontractors. This allows us to maintain our high standards and have the ultimate control over schedule and quality.
Due to these factors and hard work, our projects result in quality construction at competitive prices. Let’s talk about your upcoming commercial construction project!
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