Construction costs are currently skyrocketing

Oh yes, I ordered insulation earlier. It is now 10% more expensive than 14 days ago.

It's already shocking what you read here sometimes... We are just at the beginning of the construction. The contract was signed at the end of 2020, financing has also been secured since the beginning of the year... But it couldn't go wrong – our fixed price guarantee expired even before the start of construction (6 months passed and still no building permit). Now we have to hold our breath and live with the uncertainty of how much the price increase can hit us. Is there anyone here who is also currently building and can report such an unfortunate experience? The general contractor says he has to first secure the facts and obtain new offers but does not expect the cost volume to increase drastically. However, we are still seriously worried, if there is a 30% increase all at once, then it is simply unaffordable despite the buffer

We are currently collecting offers and I can hopefully reassure you a bit. Our general contractor currently expects 2-3% more. However, it is also a solid house. Of course, you are in a difficult situation right now because you have to accept everything. But in house construction, materials are only one item. Wages have not changed. So stay calm and try to keep 10k aside just in case. For example, we are talking about additional costs of around 2000€ for the roof. Of course, it's annoying but I think with the current inflation rates I gladly invest the money in my own home. Production is adjusted to demand. It just takes time for everything to settle again. It's the same with the vaccine. At the beginning, everyone wanted it and there was none, in a few weeks no one will want it anymore and we will have too much. Wait and see....

How did you contractually fix the prices for concluding the contract for work?

It is stated in the offer that if we sign the planning contract within 2 weeks, the prices from the offer will apply until the end of construction. I also asked the construction company again last week.

We are currently collecting offers and I hope I can reassure you a bit. Our general contractor currently estimates 2-3% more. However, it is also a solid house. Of course, you are currently in a bad situation because you have to accept everything. But in house construction, the material is only one item. Wages have not changed. So stay calm and try to keep 10k on the side just in case. For example, we are talking about additional costs of around 2000€ for the roof. It's obviously annoying, but I think with the current inflation rates, I'm happy to invest the money in my own home. Production is adjusted to demand. It just takes time for everything to settle again. It's the same with the vaccine. At the beginning, everyone wanted it and there was none; in a few weeks, no one wants it anymore and we have too much. Wait and see....

Those are some concrete and useful first-hand information. Where are you building, of what size, and with what construction budget?

2 to 3%? That is very unrealistic. But the [GU] will know what he is doing :D

2 to 3%? That is very unrealistic. But the GU will know what he is doing :D

I think the GU is simply not professional and you are right ;)