“The price rises have affected us enormously,” says Neil Turrell, managing director at Turrell Building. “We have a few projects that are valued over several million dollars each and the duration for these kinds of builds is two years plus. These projects were fixed contracts, so we have had to wear the cost of all the price rises on the complete builds over the past two years. That hurts when building materials, deliveries and trades have gone up 35% and builders only work to a 20% profit margin generally.
“I believe the increase in interest rates and in products and materials has changed the face of our industry,” says Alan Nasrallah, interior design director and founder of Indulge Renovations. “Rather than allowing our designers to choose just one product supplier for a project [which was previously often the norm], most clients now want us to provide them with two quotes, giving them the option to choose more cost-effective products.”
“International shipping delays, the tripling of container prices and port fees, and a drop in raw material supply have all contributed to a rise in project costs,” says Maria Cerne, interior designer and principal at Studio Black Interiors. “Locally, delays due to lockdowns and transport issues, along with reduced staffing capacity, have also played a significant role.
“Price rises have impacted the overall build and renovation costs for homeowners, which flows down to the budget for finishes and fixtures. We have had to adjust the materials we might typically use in favor of comparable products that are more reasonably priced and accessible,” Cerne says.
“For example, if an Italian tile had been our first choice, we are now specifying tiles available locally that are more reasonably priced and have a shorter lead time. Rather than specifying specialty finishes, such as brushed brass for plumbing fixtures, we are sticking to the more classic, standard finishes, such as chrome and nickel.”
Work closely with your builder and engineer during the design phase to limit additional costs, such as minimizing spans of beams and using readily available materials.
Find a builder and book a spot in advance with a good lead time between signing the contract and build commencement. Waiting means your builder can plan and book trades and order materials in advance.
Choose fixtures early. Making selections at the last minute will often mean less choice, higher costs and poorer-quality items.
Work with an experienced interior designer who knows the best products at the best prices and who understands warranties and where to purchase them. Using an interior designer will ensure you can avoid provisional cost amounts (estimates) from your builder for specifications that you can have a fixed-price contract on, which avoids variations.
Stage your build. Work with your builder and establish whether nonessential work, such as nonessential cabinetry, can be completed at a later time.
Consider a smaller initial remodel but work with an experienced architect or building designer to create a master plan that can be executed at a later stage. Staging a build doesn’t mean the project is less expensive overall –—in fact, it often means the project will cost more in the long run — but it can enable homeowners to get some of the most urgent work done in manageable pieces.
Work closely with your builder and interior designer in the early stages of the project and seek expert input into all aspects of the design, from the floor plan to the material selectionsbefore the project commences.
Order items such as appliances, windows, doors and plumbing fixtures months in advance to ensure they are available and ready in time for construction.
Buy and source materials locally and domestically to reduce waiting times.
Be flexible so you can pivot and adapt to changes, price increases and delays with an alternative plan or substitution.
Rather than natural stone, consider a porcelain look-alike. Everyone loves natural stone, but the cost can blow your budget out of the water. A porcelain alternative can reduce costs significantly.
If your heart is set on natural stone, ask your designer or builder whether a stonemason has remnants you can use for smaller projects.
If you want colored fixtures, choose premade styles rather than having it custom-colored. You might have to compromise a little on the color, but the off-the-shelf options have grown significantly in recent years, so chances are you may find the perfect hue.
Choose a ready-made bathroom vanity rather than having one custom-designed. A large number of companies produce attractive off-the-shelf vanities at a fraction of the cost of custom styles — some even come with marble countertops. They are limited in sizes, but a good designer will make them work in your space.
Buy products and appliances early and store them, if necessary. This helps secure costs in a fragile climate.
Be efficient with your design and minimize the use of steel where possible, subject to engineering requirements. Using wood beams instead of steel will help mitigate steel-price increases, which are expected to continue. While there are ongoing price rises and challenges sourcing wood, it is still cheaper than steel.
Be patient on the timelines of your project. This allows your builder to get multiple trade quotes and means you’re less likely to be stuck paying a premium price for super-busy trades.
Be open to sharing some of the price increases with your builder. This can help your builder finish the project and not feel pressured into thinking they have to cut corners.
1. Rent out your pool or backyard If you have a pool worth diving into, then you might want to dip your toe into the rental market this summer by using a pool app called Swimply . The company advertises that pool owners can make up to $10,000 per month, although that will depend on how much you charge per hour. “If you have a pool, cash in and make some extra money,” says Erick Nilsson , founder of Rentola . “The average hourly rate for renting a pool via Swimply is $45. This price changes according to the area. In places like Los Angeles, the prices can hike up to as much as $100 per hour.” The app also allows you to rent out your backyard or private gym. Plus, the company’s insurance policy will protect you for up to $1 million for general liability claims. 2. Host a photo shoot Have a great open-concept living room? Or a deck with a view to die for? Your home could be a perfect fit for Splacer , an app that connects you with event planners looking for unique spaces. Whether it
Every Morning: 1. Make Your Bed Try to make your bed each morning before you become distracted by the demands of the day. Even if the rest of your room is less than tidy, having your bed made sets an orderly tone for the entire room. Studio G+S Architects 2. Squeegee Your Shower Glass and Hang Up Your Towel If your shower has a glass surround or door, consider using a squeegee to clean it after your morning shower. I do this daily, and it takes less than a minute. It keeps the glass looking fresh and free of water droplets and also makes cleaning it at the end of the week easier. I also recommend hanging your wet towel neatly using the full length of the towel rack. This keeps it smelling fresher as it will dry more quickly than a doubled-over towel. As a bonus, this practice reduces the need to launder your towel as often. Cefalia Development 3. Put Away Toiletries and Wipe the Counter Every morning before you leave the bathroom, clear away hair an
What's a "wow!" exterior these days? Think bold, clean lines. Maybe a touch of stone. Graceful porch columns. These new house plans deliver head-turning style and modern open layouts. Sleek Metal Roof This bold design shows the modern side of Prairie style with its sleek and low-pitched metal roof and lots of windows. Double columns draw your eye to the entry porch. Inside, a great room flows into an island kitchen and open dining room for a modern feeling. A two-sided fireplace warms the great room and the rear porch. Upstairs, the master suite shows off a big shower, two sinks, and a walk-in closet. All three bedrooms enjoy easy access to the laundry room and media lounge. Four-Bedroom Farmhouse You’ll find all the modern must-haves inside this chic farmhouse. A large island anchors the kitchen, which overlooks both the great room and open dining area. Step out to the rear porch from these gathering rooms or from the relaxing master suite. Family-friendly