Material costs rising- what would you buy now to hedge inflation

[Root Cause]

So, I was supposed to build a house this year. I just finished phase one (well, septic, roads, and drainage) and am ready to start the actual build.
With gas prices, inflation, supply-chain issues etc. it looks like the worst time in history to build something.
I just read that Shanghai has been in total lockdown and this will disrupt the supply chain for many items including copper.

So that's the background and I am thinking about going out today and buying
1500 ft. 14/2,
250 f.t 14/3 and
250 ft.12/2 wire just because it takes up little space and doubt it will ever come down in price in the next 18 months.

Anyone have other thoughts or ideas? I know others here have more experience with home building.

 

[JJT]

I run 12/2 for almost all 120v circuits. The only 14/2/3 I have is for light circuits.

I think now is a good time to build, I don't see this getting any better anytime soon.

 

[Snobdds]

My sister and her new husband just got married. They want to build a house in Denver. She was hell bent on doing it, so I knew logic was not going to convince her otherwise.

She got a few quotes and they were coming out to over $300/sq feet. That was just using contractor grade stuff. It was over 500/Sq feet for her upgrades.

She got a quick reality check.

I don't think you could pay me to build now.

 

[newbury]

CAREFULLY examine all needs for large appliances, I'm waiting for them to skyrocket. Most are produced overseas, and the ones that are not follow the pricing.
Good luck.

 

[rScotty]

So, I was supposed to build a house this year. I just finished phase one (well, septic, roads, and drainage) and am ready to start the actual build.
With gas prices, inflation, supply-chain issues etc. it looks like the worst time in history to build something.
I just read that Shanghai has been in total lockdown and this will disrupt the supply chain for many items including copper.

So that's the background and I am thinking about going out today and buying
1500 ft. 14/2,
250 f.t 14/3 and
250 ft.12/2 wire just because it takes up little space and doubt it will ever come down in price in the next 18 months.

Anyone have other thoughts or ideas? I know others here have more experience with home building.

First of all, price is what it is. I do buy in bulk and in advance but it is more for convenience than savings. The problem being that when uou end up not needing a few hundred feet of wire - and you will - there go your savings. But saving extra trips to town is a huge benefits

In my opinion there is no such thing as a bad time to build something.

You will need good tools. Probably there is more to be saved buying those. For instance a good 12" table saw (look for a good used Delta or similar) and a dual bevel compound anging miter saw, several portable drills, screw guns, fasteners, and one plug in 1/2" milwaukee with an oversize key chuck, and hole saws. Plus a nice QUIET air compressor with 100 feet of hose & some air tools. A circular saw. If you do your own plumbing and electric add a power hacksaw. I like a router too, and a dado for the table saw.
Sawhorses, lots of clamps, and a work bench - make that two benches - with a good heavy vise for metal and a clamping system for wood.

I'd reverse the 14/2 and 12/2 quantities. Anywhere you can use 14/2 you can use 12/2 EXCEPT in some lighting circuit only push-in connectors. Even in those, you can use 12/2 and have a better quality job if you use the screw connections. The inspector will be happier too.
Get a set of wire strippers. There's only one good one....

For all the same reasons I use 12/3, not 14/3.
rScotty

 

[Root Cause]

First of all, price is what it is. I do buy in bulk and in advance but it is more for convenience than savings. The problem being that when uou end up not needing a few hundred feet of wire - and you will - there go your savings. But saving extra trips to town is a huge benefits

In my opinion there is no such thing as a bad time to build something.

You will need good tools. Probably there is more to be saved buying those. For instance a good 12" table saw (look for a good used Delta or similar) and a dual bevel compound anging miter saw, several portable drills, screw guns, fasteners, and one plug in 1/2" milwaukee with an oversize key chuck, and hole saws. Plus a nice QUIET air compressor with 100 feet of hose & some air tools. A circular saw. If you do your own plumbing and electric add a power hacksaw. I like a router too, and a dado for the table saw.
Sawhorses, lots of clamps, and a work bench - make that two benches - with a good heavy vise for metal and a clamping system for wood.

I'd reverse the 14/2 and 12/2 quantities. Anywhere you can use 14/2 you can use 12/2 EXCEPT in some lighting circuit only push-in connectors. Even in those, you can use 12/2 and have a better quality job if you use the screw connections. The inspector will be happier too.
Get a set of wire strippers. There's only one good one....

For all the same reasons I use 12/3, not 14/3.
rScotty

I have all the tools mentioned except a framing nail gun.
I will be moving my wood shop to 1200 sq ft building in coming weeks. I have RV inside with septic and water now.

Yep, it is a 2-hour round trip to the store.

I have a cheap set of strippers, what is the only 'good' one?

I am also concerned about appliances but I don't know where I would store them unless I want to turn the existing dining room into a storage facility.

 

[2manyrocks]

If you are going to need electrical wire in the foreseeable future, I'd buy now as price protection and to be sure I had it. If you can't get it, that means holding up interior wall finishing, etc. Also, 12 is what I'd lean towards over 14 if it were my property.

I was able to order wire from Lowes and had it delivered without any extra charge in 2020 or 2021. Can't remember. You might check if they still do that.

 

[MAX-24-Dean]

First of all, price is what it is. I do buy in bulk and in advance but it is more for convenience than savings. The problem being that when uou end up not needing a few hundred feet of wire - and you will - there go your savings.

I'd reverse the 14/2 and 12/2 quantities. Anywhere you can use 14/2 you can use 12/2 EXCEPT in some lighting circuit only push-in connectors. Even in those, you can use 12/2 and have a better quality job if you use the screw connections. The inspector will be happier too.
Get a set of wire strippers. There's only one good one....

For all the same reasons I use 12/3, not 14/3.
rScotty

Agree with your post, 12/2 instead of 14/2. and 12/3 instead of 14/3.

JJT said,
"I run 12/2 for almost all 120v circuits. The only 14/2/3 I have is for light circuits.

I think now is a good time to build, I don't see this getting any better anytime soon."

I also only used 14 guage wire for lighting circuits. everything else 12 guage.

 

[NoTrespassing]

I would wait for the coming recession if possible. Most are predicting it will happen in the fall of 2023 or soon after. Prices will be depressed. My wife wants to build but we're going to wait. If our jobs don't disappear in the meantime, we'll be able to pay cash for most of it.

 

[jaxs]

What the effect will be remains to be seen but there has to be an extraordinarily high demand for new and pre-owned homes in N. Central Tx when all these people tire of living in travel trailers. I haven't been able to find stats but I estimate rv parking space has increased 20 fold over the last 3 years and land is being developed for more as we speak. If history taught us anything about rising prices it is they rarely go back to where they began. I believe $5+ fuel and $300 sq ft homes are here to stay. Minimum wage is presently $7.25 and there has been no talk about raising it by $1,$5 or anything else other than more than double at $15. Quartly "stemless"checks coupled with $15 wages can sustain rental rates for housing that cost $300 per sq ft to build. One of our granddaughters was putting off building and we incouraged her to proceed. We used the majority of grandkids' inheratance to buy land we feel is a good investment,deeded a portion to her and the remainder to other kids as co-owners. Apprasial for new home with clear land rolled in got lower intrest rate on her loan and most important,avoids paying stinking mortage insurance. All that sounds rosy unless Grandmaw and Grandpaw outlive their remaining savings and grandkids wind up having to support them.