Impacts of COVID19 on Basement Remodeling: What it means for you
CID Basements remains committed to you and your family’s health and wellbeing during the global COVID19 pandemic. Since the onset of the pandemic, Jerry and his crew have implemented safety precautions, including providing masks for all contractors, subcontractors, and clients, as well as providing hand sanitizer at every job site. Jerry implemented low contact work sites early on, requiring all contractors to only go inside clients’ home within the job site area whenever possible, and working with homeowners when it is necessary for contractors to go within living spaces to reduce contact. With over 40 years of experience, Jerry and CID Basements continues to be a business you can trust—especially in a pandemic.
COVID19 has impacted every industry across the country and world, and it appears this is something we will continue to deal with for some time to come. At the onset of the pandemic, no one knew exactly what the impacts would be on the building industry, but we are beginning to see the trickle down effect of the virus and wanted to shed some light on how that will impact you, the client.
We have seen impacts in almost every area of the building and remodeling industry, from an increase in materials pricing, to an increase in demand for services as more people are working from home, and an influx of subpar contractors trying to get in on the boom—resulting in poor workmanship for clients and longer wait times when these families have to search for a reputable contractor.
Jerry Vidmar, owner and founder of CID Basements, has been in business in the Denver area for over 40 years, with an A+ ranking with the Better Business Bureau, and has remained not only a fairly priced option, but the best in the business at delivering high quality remodels for his clients. This remains true today, as COVID19 impacts almost every aspect of basement finishing and home remodeling.
Increased Price of Materials
Based on the Lumber Composite Index we have seen an increase in lumber and sheet goods of as much as 60% since the beginning of the year. Treated lumber, which is used for material in framing basements along with other sheet goods, is in short supply.
Trim, doors and plumbing products that are imported from China, Asia and South America have seen an increase cost around 15-20% along with delays and major shortages due to the ongoing Trump trade war with China.
Shortages and price increases have been felt across the board on building materials due to COVID19. Lowered production, short staffing and shipping delays due to increased scrutiny and screening in ports around the world have compounded to create higher costs and short supply.
Basement remodel costs with COVID19 are averaging about $55 per square foot with this increase in material costs. To get a better understanding of how much it costs to remodel your basement in Denver, read this blog (while keeping in mind this increase in per square foot cost with COVID19).
Increased Demand for Home Remodeling
At the same time demand is at an all time high for remodeling projects, from kitchen and bath remodeling to complete basement finishing. With people working from home and children and teens now at home without normal school days, family's are opting for a relatively inexpensive way to add space in their homes by finishing their basements.
Those that figure on waiting until the industry moderates and COVID19 is brought under control may be waiting a long time, as the current industry is struggling to keep up with the demand.
Family's that have been unable to find reliable and reputable contractors are also waiting in line to finish their remodeling projects. With a large influx of inexperienced contractors hoping to get in on the remodeling boom, many clients are signing contracts with companies that are unable to fulfill their commitments and are taking off with large deposits, so buyer beware.
Custom Integrated Designs Ltd. has a deposit system that is incremental to the project with payments coinciding with material purchases and completion of phases. With 40 plus years of metro area service experience you can count on CID Ltd. to see your remodeling project through to completion.
Now is the time to begin the process of completing your remodeling project, as wait times are already increasing as demand continues to skyrocket with more and more professionals working from home. It’s important to choose a contractor that has many years of experience, is highly rated by the Better Business Bureau and has the industry knowledge to anticipate supply issues and make sure your expectations for project completion are set accordingly.
From the CID Basements family to yours, we hope you stay safe and healthy during these difficult times, and we hope we can provide you with our exemplary remodeling services in the future. For a free estimate on your project, click here.