Cost of Construction in Pagosa Springs | Blog

As an active member of the community and host of the "Living in Pagosa Springs" YouTube channel, I want to provide you with an update on the current cost of construction in the area. In this blog post, I'll discuss the reason behind the increasing cost of construction and offer some tips for navigating the market.

Why is the Cost of Construction Increasing? The cost of construction in Pagosa Springs, and across the country, is on the rise due to a major factor - lumber prices. Lumber prices have reached record highs and are currently being traded at over $1,000 per contract. This is compared to $300 per contract at the end of 2020. This drastic increase in the cost of lumber is causing builders to be cautious about giving quotes and is affecting the overall cost of having a new home built, adding an estimated 10-15% to the final cost.

Tips for Navigating the Market The cost of construction can be a daunting factor when it comes to building a new home, but there are ways to navigate the market and make sure you're getting the best deal possible.

Consult with a builder or construction expert: One way to get a better understanding of the cost of construction on a particular piece of land is to have a builder or construction expert come out and give you their opinion. They can tell you whether the land is buildable, where you can build and any potential hazards that may come up during the construction process.
Be aware of busy builders: With lumber prices on the rise, many builders are busy and have a backlog of projects. Be aware of this when making a commitment to a builder and make sure you understand their schedule and the possibility of cost overruns.
Protect yourself: When committing to a builder, make sure to include language in your agreement that protects you in case of cost overruns or other issues.
Reach out for help: If you have any questions about real estate, new construction, or navigating the market, don't hesitate to reach out to me. You can reach me at 970-970-426-5220 and be sure to check out my website, livinginpegosisprings.com for more information and resources.

Conclusion: The cost of construction in Pagosa Springs and across the country is on the rise due to an increase in lumber prices. While this may be daunting, there are ways to navigate the market and make sure you're getting the best deal possible. Reach out to a builder or construction expert for their opinion, be aware of busy builders, and protect yourself with language in your agreement. If you have any questions, don't hesitate to reach out for help.