Smart Advice

How to deal with volatile material prices as a constructor

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How to deal with volatile material prices as a constructor

It seemed like a roller coaster journey for many in the construction industry to place projects in the pipeline and maintain costs within budgets. We see a higher construction price, equally affecting residential and commercial projects. Fees have risen on average to 3 – 5% over the same time last year, outpacing the typical CPI.

Next Day Insulation works with contractors nationwide, and we want you to know that we will do our upmost to keep prices down to save you as much money as possible. For peace of mind when finalising material costs, we recommend securing materials before future price increases occur.

Despite the disruption caused by the pandemic, supply issues will remain a concern for years to come. There are protections to ensure construction firms can deal with volatile pricing. Even lumber prices have dramatically changed and now stand between 70%-75%. You won’t lose out on future price increases if you pay a lump sum early and store materials.

We plan to get the best prices for our customers as we expand. Material volatility is expected to continue throughout the year, but we will do what we can to get the best price for our customers as we grow. Even though warehousing stock isn’t ideal, we recommend having a place to store materials to yield better outcomes on a budget potentially.

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