Increased building costs... Thoughts?
Folks, I'd like some help. Our builder has sent the first draft of the contract and has stated that costs have gone up (market conditions) based on the estimates they used to build the same house next door around 6 months ago but closed last week. It is a 4000 st ft home.
Here is the rundown.
A) Lumber Increases $6,000
B) Install sidewalk (20ft and retaining wall per City's revised position $4,000 (albeit this is would cover both homes)
C) Prepare house for ejector pump due to rock $4,000
D) Drywall Increases $2,500
E) Electrical/Plumbing Increases (copper)$3,000
Total$19,500 based on the home next door which sold for $700k.
It seemed highly excessive to us, but wanted to get the experts to weigh in on each.