In Tennessee is easy to think about real estate and construction as a simple matter of acquiring property and building on it. The same holds true for home improvement projects. However, many factors can impact the efficiency, cost and speed at which residential and commercial projects are completed. While the Volunteer State is growing in popularity for businesses, families and individuals, that does not mean it is without its challenges. Currently, problems with labor and supplies are hindering construction. Costs are spiking and delays are prevalent. For contractors and property owners, it is important to be aware of this and to take appropriate measures.
Building projects across the nation are delayed
With the worldwide crisis still presenting myriad obstacles, construction is just one of the industries that is feeling the effects. Prices have escalated, building has slowed, workers are difficult to find and completion dates are being pushed back. In Columbia, for example, one building company mentioned how difficult it is to find supplies. Even something as relatively innocuous as paned windows have been problematic. Lumber is escalating in price. That company’s projects are behind by an average of two months. This is not isolated. There has also been an increase in wait time for projects to be completed. It is reducing output and making customers unhappy.
Every industry is being impacted in some way by these issues. Not only are materials slow to arrive, but qualified workers to install them are lacking. In the past, it was possible to give a roundabout estimate as to cost and duration. Now, that is impossible as no one can say with any certainty when the necessary items will be available. Regarding the inability to find workers, Tennessee alone is in need about around 200,000 construction workers. While people might be somewhat flexible given the circumstances, there is a limit to the patience when so much is at stake financially, personally and professionally.
Facing the unexpected with real estate and construction may require assistance
If there is a construction contract in place already and the terms are not being met, then this could be a serious concern that may need guidance with finding effective solutions. When negotiating an agreement, facing problems with the desired timeline for completion, addressing costs and other unexpected impediments come up, this should also be considered during the process. For these and other aspects of real estate and construction, it is useful to have professional assistance. This is not necessarily adversarial, but it serves as a shield to ensure everyone is protected and disputes or disagreements are handled appropriately.
