Lockdowns, supply chain disruptions, finding the right people who are actually available... the past few years have been a wild ride for the construction industry! It's natural to wonder whether now is a good time to get started on building or renovating your home.
While we don't have a crystal ball, we're here to share our insights on the current state of the industry and what you might expect moving forward.
Is now a bad time to build?
Here are a couple of concerns we've been hearing lately...
Yes, construction costs have surged in recent years. For new extensions and comprehensive renos, prices are currently sitting at around $5,000 to $6,500 per square metre - and the reality is that these costs are unlikely to drop back to previous levels anytime soon.
But here’s the silver lining: stability. The industry is finding its feet again. While costs may be higher, they're also becoming more predictable. This means builders can provide you with more accurate pricing upfront and reduce surprises down the line.
"Building is so expensive right now!"
You might think so, given the demand for architects and builders in recent years. However, as the industry begins to calm down, it’s an opportune time to get your design work underway.
By getting "shovel ready" now, you'll be in a prime position to start building later in the year when builders are more readily available. If you focus on finding the right personality fit for your project, you’ll ensure a smooth design and build process when the time comes to break ground.
"Isn't everyone booked out?"
Let's look on the bright side!
While we can't predict the future with certainty, we are seeing signs of a shift. Some elements of the construction process are starting to look more positive, including quicker turnaround times.
In recent months, we're seeing shorter timeframes on acquiring pricing from builders. As the industry stabilises, they aren’t as overwhelmed with work as they were during the peak of chaos. This means they can devote more attention to pricing each project – which equals a faster and more accurate quote for you!
Building or renovating a home is always an adventure – it’s filled with possibilities and challenges. Despite the recent turbulence, it feels like there is a change in the air that offers opportunities for more predictable pricing and planning.
If you can wait to get the right team on board and approach it with some flexibility on timeframes, the whole process will be much easier. Remember, designing and building your home really is a collaborative effort, and the right people can make all the difference.
Final thoughts
Do you have questions about how to approach your project? Let's chat!