How Systemic Issues In The Remodeling World Are Causing
Kitchen & Bathroom Remodeling Prices To Spike
Since the pandemic, prices everywhere have gone up. Unfortunately, the remodeling industry is no exception. If you’re a Kansas City homeowner interested in remodeling your kitchen and bathroom, you probably want to know how the pandemic fallout will affect the cost of your remodel.
Remodelers all over the country are dealing with pandemic-related after-effects. These challenges include:
- A lack of skilled workers
- Rising costs of construction materials
- Extremely long wait times for products and materials
So, how do these issues affect the cost of your Kansas City kitchen and bathroom remodel right now?
How Things Were
Long before the pandemic happened, the remodeling industry was struggling with a labor shortage. Many installers were heading toward retirement, and a new influx of workers was needed – but those workers were hard to come by.
Cost inflation was another issue the remodeling world was no stranger to, even before COVID hit. With every passing year, the cost of construction materials crept higher.
Add the pandemic to the mix, and both of these issues only grew.
How Things Are Going Now
The pandemic caused many international factories to shut down production entirely for a few months. These factories produced necessary construction materials like steel, stone, and wood. Suddenly, cabinets, countertops, and other products constructed from these materials were in high demand.
The run on products and materials inevitably affected the cost of construction materials. Products that used to be readily available now are scarce. And like anything rare, prices started climbing.
For example: The average prices for granite countertop slabs have gone up by about 35% in the last two years . Similar increases have been seen for cabinets, flooring, lighting, and many other products and materials used in the average kitchen and bathroom remodel.
If things weren’t bleak enough, major supply chain bottleneck issues have slowed down the turnaround times for most construction materials. For this reason, it can take months for products just to show up.
The Pandemic And YOUR Remodel
3 Examples Of What To Expect
We may not be able to magically make prices go back to the way they were pre-pandemic, but we can prepare you for what to expect.
Here are three examples of recent remodeling projects Jericho sold:
- We just sold a job for a kitchen with granite countertops and custom-made wood cabinets that was $94,500. That same job would have been $79,000 two years ago— and $85,500 one year ago.
- We recently sold a job for a full master bathroom remodel that included a new tub, new flooring, and layout changes. The cost of the project was right at $80,000. Two years ago this project would’ve been closer to $60,000, and one year ago it would’ve been $70,000.
- We sold a job for a kitchen refinishing project that included marble countertops and a new tile backsplash. The job was $35,000. A year ago this project would’ve been $29,000. Two years ago a very similar kitchen refinishing job would’ve been about $26,000.
What The Future Looks Like
So, should you hold off on remodeling your kitchen and bathroom until the market corrects and prices go down?
Here are the hard facts: projections are that inflation will continue and there is no end in sight for labor shortages. This is the new normal and waiting won’t make things better – in fact, things might actually get worse.
We’re All In The Same Boat
The bad news is… we’re all in the same boat. Unfortunately, there are no loopholes to avoid the increased costs of remodeling your home. No matter where you live or which remodeling company you hire, you’ll be dealing with the pandemic fallout.
The good news is… we’re all in the same boat. Remodeling companies all over the country are dealing with these harsh conditions. Jericho’s prices have gone up by about 20% since the pandemic, but that price increase is in line with the industry.
Jericho Has Your Back
As always, you can expect a TOP quality remodel from Jericho. Despite rising prices of products and materials we don’t ever compromise on quality to cut costs.
We’re honest with you about prices and turnaround times for products and materials. We respect your time and money, and we fill you in every step of the way. We work with you to overcome these challenges.
Schedule Your FREE Consultation Today
Contact us today for a free remodeling design consultation. We would be honored to discuss your dream kitchen or bathroom remodel with you!Tags: bathroom remodeling, kitchen remodel, Pandemic, remodel, Supply Chain Delays