hardsoft t1_j997h2c wrote on February 20, 2023 at 5:25 AM

Reply to comment by itsMalarky in Sorry to the NHer’s who wanted to stay! by 603ify

The materials were probably so expensive when they built it they'll need a high price just to break even.

Lumpyyyyy t1_j9ae09l wrote on February 20, 2023 at 2:01 PM

Oh well. That’s what they get for speculative home building.

itsMalarky t1_j998me9 wrote on February 20, 2023 at 5:38 AM

Yeah.....kind of what I was thinking.

It was RIGHT during that insane period where material pricing was through the roof (mostly wood). Then we had 2 or 3 rate hikes.

Excellent_Affect4658 t1_j9ahcpt wrote on February 20, 2023 at 2:29 PM

Ehhhh. We built an ADU for my parents during that time, and while we definitely paid a bunch extra for framing, and everyone fixated on that, framing is a very small portion of the cost of an actual house, so it doesn’t move the needle that much at the end of the day.

itsMalarky t1_j9aqb94 wrote on February 20, 2023 at 3:35 PM

Yeah true. Not just wood. Everything. Family owns a construction company. Sure, framing is just a part of the equation. But that's not even all the wood you need (floor joists...etc). That also ignores the fact that Steel, copper and the labor to install it all went up as well. Conservative estimates would put the price increase of materials at least around 25-30% post-pandemic. Service prices are even higher.

I probably singled out wood above because of the FAST and FURIOUS memes people were posting about lumber trucks. But it's only part of the equation.

Assuming an ADU is an acronym for an in law apartment.

(Edit: a few words)