Home renovation costs - likely to come down?

jayjay2010

Hi All. I had planned to do a full renovation to my home in the region of 100-120k some time this year, but in light of everything going on with Covid-19, do you think I am better off waiting until next year, are costs likely to come down ie: materials, labour, etc.

Thanks!

Gumbo

No. In my opinion.
This is not a Financial crash. There is still
Tons and tons of work out there that just can’t get started until this restriction blows over.

Still waters

The cost of labour will probably drop, materials rarely see a drop in price recession or not, the most expensive part of most jobs is the materials so it'll definitely be cheaper if you wait until a recession is in full flow

Gumbo

Still waters wrote: »

The cost of labour will probably drop, materials rarely see a drop in price recession or not, the most expensive part of most jobs is the materials so it'll definitely be cheaper if you wait until a recession is in full flow

A recession yes, I suppose the question now is if C19 brings on a recession in the traditional sense.

Me personally, I have bookings until June for planning applications and am actively preparing them now during the partial lock down.

People still want the work done and my labour rates haven’t dropped at all.....just yet.

Still waters

Gumbo wrote: »

A recession yes, I suppose the question now is if C19 brings on a recession in the traditional sense.

Me personally, I have bookings until June for planning applications and am actively preparing them now during the partial lock down.

People still want the work done and my labour rates haven’t dropped at all.....just yet.

Hopefully there won't be a recession but is there any way around it, hopefully it'll all pick up where it left off, it was just getting good with plenty of work being lined up for the summer around here

mkdon

hopefully there wont be a recession? seriously


the dogs on street know this will be a depression. things wont be resolved anytime soon.


labourers will be begging for work soon so definitely cost will come down ... demand will too as who can afford what currently paying... 500k people lost their jobs


lets be real will even half of them have jobs to go back to


cost must and will come down


id put my house on it ha

mickdw

Gumbo wrote: »

A recession yes, I suppose the question now is if C19 brings on a recession in the traditional sense.

Me personally, I have bookings until June for planning applications and am actively preparing them now during the partial lock down.

People still want the work done and my labour rates haven’t dropped at all.....just yet.

Im similarly getting a few planning applications ready but im noticing that a couple of those clients have somewhat lost interest so i wont be progressing any of those works til i hear more. Also somewhat stuck with others in not being able to get out to finalise site layouts etc.
Personally, i think the banks will drag down the construction sector so prices should certainly drop for work.

Still waters

mkdon wrote: »

hopefully there wont be a recession? seriously


the dogs on street know this will be a depression. things wont be resolved anytime soon.


labourers will be begging for work soon so definitely cost will come down ... demand will too as who can afford what currently paying... 500k people lost their jobs


lets be real will even half of them have jobs to go back to


cost must and will come down


id put my house on it ha

Yea hopefully