I am sure you have also seen internet discourse around inflation and the rising cost to buy or build a house.
Building Costs in the last few years have been more unpredictable then previous with supply chain disruptions due to climate impacts and in 2020 Pandemic related labor shortages. between 2019 and 2024 there has been a 34% increase in the cost of building.
Below is a calculator that compares historic building costs to an updated year.
For example a house built in 1990 for the cost of $350,000 could now be built for the cost of $813,601.
In comparison the cost of food in 1990 to 2024 has increased %230.89
*Note calculator is for informational purposes only.
Here are a few more online resources for the change in cost of goods.
If costs of construction have increased, we would also hope that the quality of construction has also increased. Unfortunately, this is not the case for the vast majority of the construction industry. However, mass timber is emerging as a new paradigm in residential construction that will match market rate costs while providing the leap in quality that is far overdue.
Mass timber produces dramatically higher quality homes in every metric: durability, beauty, health, safety, thermal comfort, acoustics, speed of construction, and reduced utility and maintenance bills, to name a few. It harnesses leading edge principles of prefabrication to match the price of standard construction while utilizing natural materials, sustainably harvested.
The construction industry may be on the verge of real disruption by mass timber and we are excited to see it. The rate at which this disruption takes place relies on the designers, carpenters, and trades of today embracing change and celebrating a new way to build. CedarStone is one company working with mass timber manufacturers to transform this tremendous material into housing, and we suggest you take a look.
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