LOUISVILLE, Ky. (WHAS11) -- Hurricanes Harvey and Irma are certainly taking a human toll and a toll on property.
The full count of homes and businesses destroyed still untold, but one thing is for sure, building supplies are in high demand. That demand is likely to cause a spike in prices here in Kentuckiana. From drywall to lumber to labor, both Harvey and Irma are massively impacting contractors all across the nation.
Experts here at home say the time to act is now, the longer you wait, the higher those prices will go up.
There's no shortage of new businesses or residential areas in Kentuckiana, but with new buildings, comes the need for more supplies, which are likely heading south after Hurricanes Harvey and Irma.
“Things like drywall, roofing, shingles, windows, paint, wood material such as doors and baseboards and crown moldings they will be in big demand,” says Pat Durham. He is Executive Vice President of the Building Industry Association of Greater Louisville and tells us contractors in our area are already starting to seeing both products and people being called to help out after the natural disasters.
“Rightfully so, those areas of the country should get the attention of those products, which means we may not have the supplies that we need to carry on with our day to day business,” Burham said.
So what if the thought of remodeling or expanding has crossed your mind?
“I would say if you're thinking about it, go ahead and get in contact with your builder now because the longer you wait, the more delayed you might be in getting started because materials just aren't going to be available,” Durham said.
He also says you have to factor in the men and women who have been called to help. That trip includes gas, which we know is on the rise or airfare. Then hotel stays and food, so those companies are somehow Durham says going to find a way and make those costs back.
“You can expect those increases to be felt here I would say if not almost immediately, certainly within the next month or two,” Durham said.
Growth is good and is definitely not in short supply in Kentuckiana, but due to mother nature, that growth may hit your pockets a little deeper. For more information, contact Durham at email@example.com, visit www.bialouisville.com or call 502-429-6000.
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