Cost inflation / deflation on rehabs?

[Boab64]

Guys,

In the UK at the moment we are experiencing increasing costs for hardware and materials and ever spiralling costs for contractors. The one ray of light is that some wholesalers/retailers are prepared to do deals based on bulk purchases or some other incentive.

It makes me wonder, for those ICI properties that have remained on the market for say five months or more, how up to date are the estimates for the rehabs. Would you need to add say 5% to take account of inflation?

Are there any ways to save money on rehabs that anyone would care to share?

Robin

 

[Brian Lee]

For the most part, I think the pricing has remained the same.  The cost for some items such as drywall and lumber have seen increases, but a majority of the items we use are not as prone to increases as they are not commodity type items.  I am always looking for ways to save money and search out sale items when available for our projects.  One of the many benefits of being an ICI member is the discounts we have available due to our group "buying power."  We are receiving discounts from Menards and Home Depot when items are ordered in quantity (which they are most of the time), and we are receiving discounts on flooring and many other items.  Overall, I think we are doing pretty well.  I am always open to other ideas.  Anyone else care to chime in?

-B