Sign or wait? Fear of construction halt and shortage

2021-05-31 08:55:14

Hello dear house building friends,

we are quite close to signing the contract for our solid house.
However, we are concerned about the shortage of raw materials and are afraid that our construction might come to a halt.
The start of construction would be in August 2022.
Under the current circumstances, would you sign a contract now or rather wait one or two years until the situation possibly calms down?

Regards
Thomas

2021-05-31 08:57:49

Hello dear house building friends,

we are relatively close to signing the contract for our solid house.
However, we are concerned about the shortage of raw materials and afraid that our construction will then come to a standstill.
The start of construction would only be in August 2022.
Would you currently sign a contract under these circumstances or would you rather wait one or two more years until the situation possibly calms down?

Regards
Thomas

It always depends on the contract and how certain you are that construction can actually begin in August (building application, development?). How long is the fixed price guarantee and have you already had the contract reviewed?

2021-05-31 09:21:33

Exactly, it depends on the contract.

If you have agreed on everything reasonably, sign now.

So without price escalation clause, with a fixed price at time X, schedule start and end of construction, penalty for delays,.... and many other nasty pitfalls...

Trend: sign now, but only sign what you understand!

2021-05-31 09:26:29

As the previous speakers already said, only sign if everything is clearly defined. Regarding the topic of waiting or not -> just take a look at the course of the last 5 years. Pretty stupid to have hoped for falling prices back then. Would definitely have saved 20% from then to today :D So waiting does nothing but burn money. If everything is well planned, what are you waiting for?

2021-05-31 09:35:06

Construction would not start until August 2022.

Until then, the supply chains should be working properly again. The problem is rather: Who guarantees you the price until then?

2021-05-31 10:58:08

Just take a look at the trend over the last 5 years. Pretty stupid to have hoped for falling prices back then.

Who on earth is so naive as to expect/planned with falling prices?
I have mentioned it before, apart from "electronic junk" and other crap, prices only go in one direction.

As already mentioned, it depends on the contract.

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Sign or wait? Fear of construction halt and shortage

Thomas88

Acof1978

Osnabruecker

Hausbauer2021

nordanney

driver55