Remodeling Costs


Fluctuating costs give any business headaches. Residential construction is especially prone to shifting prices for materials, and builders need to manage input costs to retain profitability. For both March and April of 2019, Associated Builders and Contractors calculated that material prices have increased by about 2.5% from the previous year. With trade instability, normal market flux and the global competition for materials, construction material costs will likely keep rising. But no matter what the climate, it is up to builders to adjust their methods to maintain margins on their projects. The Bureau of Labor Statistics calculates overall input costs for different categories of construction. These are further broken out into different types of materials before averages are calculated. For instance, if oil prices rise steeply, the total input costs may rise even if many other materials, like lumber or copper, decrease. The fluctuations affecting your company may vary from the…

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