The need for homes is on the rise as we watch the pandemic days calm down. Current and potential homeowners are itching to jump on the better costs that have come about with most building supplies in comparison to last year. A question many contractors are finding themselves asking is; “how will we keep up with the demand?”
Lots, land, and old homes needing demo are plentiful in areas across the US making it a perfect opportunity for homeowners of all ranges to take advantage of the market and find exactly what they are looking for. With the abundance of land opportunities to purchase, however, comes the need for quick home turn around times as they might be selling a previous property and need to get into their new home as soon as they can.
When there is an overflow of building inquiries coming to you with tight turnaround times, the choice is up to you on what projects you should take. Here are a few simple questions to ask yourself and make the decision easier:
- Is this profiting me in multiple ways?
- Do I have the manpower for this project?
- Is the timeline to start and finish this residential project conflicting with any of my current projects?
- Do the supplies I need require a waiting period due to shortages or cost?
Being able to get a real grasp for the business you are bringing in, even if demand is so high you could have projects on your plate for years to come, it’s important to consider if it is worth it. Employee burnout, material shortages, underdelivering on projects and so much more should be considered in the decision making process every single time. So, to keep up with the demands of residential building we face in 2022, make sure to first keep focus on your overall business goals and set yourself up for success with every project you take on!