Wood costs have skyrocketed over the last year, leaving would-be home renovators to choose between waiting in price purgatory or moving forward and possibly overpaying.
ABC News' Fixer Stephanie Zimmermann works with one couple to solve their remodeling issues.
As of mid-July, lumber prices dropped to only double their spring 2020 levels, but whether the decline will continue and when lower prices will reach homeowners isn’t yet clear, Logan says.MAKE ROOM FOR VARIABILITY Logan says if he were renovating, he’d move forward with a large renovation, like a kitchen upgrade or room addition.
Your local lumber or flooring liquidator may have enough wood to redo the flooring in a small room or on a single floor of your home, says Rebekah Hernandez, a Dallas-based interior designer.PUT AFFORDABILITY FIRST Out-of-pocket is always the least expensive way to pay for a renovation. But finance the project only if you can get a low interest rate and affordable monthly payments, says Larry Pershing, a Chicago-based certified financial planner.
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