Broderick Perkins writes for Realty Times,
Studies show new home owners buy about $10,000 in initial improvements over the first 12 to 18 months of moving in. Such projects could grow in cost beyond $11,500 when higher interest rates are considered if the project is financed.
What’s more, the estimated 15 percent as the greatest increase in building material costs thus far, may be just the beginning.
Not long after Hurricane Katrina left hundreds of thousands of destroyed and uninhabitable homes in its path the National Association of Home Builders (NAHB) warned that the rebuilding effort would dwarf any other and be crippled by the immense demand, limited building and supply facilities, disrupted supply lines and displaced regional work force.