/

Building costs skyrocket as home hunters turn to land

2 mins read
(Photo by Rangeley Building & Remodeling)

RANGELEY – A spike in lumber prices has had a ripple effect on home owners and house hunters this year, hurting some, while helping others. Some materials have more than doubled in price since the beginning of Covid-19, which sent many people searching for projects to fill their suddenly ample free time. From decks to raised beds and full-blown houses, lumber yards scrambled to keep up with the sudden demand. Prices increased accordingly, sending figures through the roof for even the simplest of backyard projects.

“At first it actually hurt us a bit, because we had a lot of jobs with set prices,” owner of Rangeley Building & Remodeling Mark Gordon said.

The demand only continued to grow, however, and Gordon soon adjusted quotes to reflect the price of materials. Since August of 2020, Gordon said requests for jobs has doubled.

“There just aren’t any homes available. Every house on the market [in Rangeley] has been bought, so people are looking to build,” he said.

Jodi Hollingsworth of County Seat Realty agreed that the market for land is in a significantly different place than it was a year ago. The lack of available homes is not only driving prices up, but is making home hunters look toward building as an alternative to escaping the crowds of southern Maine or other areas in New England.

For Dane Kaiser of Farmington, building has been the plan for several years now, long before the pandemic began. He and his partner bought land in Temple five years ago and began clearing for a small, off-grid home. The goal was to live a more eco-conscious life, but that dream has been put on hold until prices come back down. The two-bedroom home is designed as being just over 1,000 square feet, but the estimate from builders was $300,000 or more.

“There’s an aspect of affordability, but it’s more about being morally opposed to paying so much for something that is being artificially inflated,” Kaiser said.

Print Friendly, PDF & Email