Caught by the inflation demon

[Tomtint]

IMO...Wait it out. The economy is on a rapid downhill slide right now. Interest rates are going to explode, layoffs are happening now and will be coming in droves over the next couple months. People will need work and money. This coming winter is going to be very very tough for many.

 

[newbury]

I agree - totally agree. Litigation is a terrible way to settle issues (but sometimes the only option). I told my daughter and SIL that we had grounds to sue but that we did not want to live with that (stress- expense - distracted from building the home) for 2-3 years and so we would move on with our lives.

Litigation is good for lawyers.
Beyond that I wouldn't trust a house that was built while under litigation.
Your thoughts of a smaller house and giving your present one to your daughter & SIL READS good but that may require a lot of changes and things don't always go as planned.
I had a similar with situation with my son and his family. Little 1 story and a half house, about 26x30 (on a half acre) I had been renting to a lady in Alexandria, VA. Son & his wife expected a baby, I had house "renovated". Then had an addition that almost doubled the value put on. Son & family were going to move north in 3 years. That was 2012. They are still there, and expecting a FOURTH child.
The things we do for our offspring.

 

[grsthegreat]

Gotta ask...where are you seeing $197.00 for a 10' stick of 2" rigid at?

Local Menards & Home Depot aren't even above $30 a stick for it around here.

ship me some. North Coast and Platt electric supply. 197.00 per stick


heres a screen grab from Platt electric here in coeur d alene. price is per foot. has gone down a bit since last month...but hardly.



io pulled up your mainards website...we dont have them here. its alot cheaper...but not $30

 

[cjoffutt]

ship me some. North Coast and Platt electric supply. 197.00 per stick


heres a screen grab from Platt electric here in coeur d alene. price is per foot. has gone down a bit since last month...but hardly.



io pulled up your mainards website...we dont have them here. its alot cheaper...but not $30

View attachment 750167




View attachment 750166

Ah, didn't realize you were talking about metal, thought you were referring to rigid plastic.

On a positive note the 2" metal is 19$ cheaper at my Menards, lol.

 

[grsthegreat]

lately, my supply houses are letting me down big time. used to be cheaper than hd or lowes. not any longer.

 

[newbury]

lately, my supply houses are letting me down big time. used to be cheaper than hd or lowes. not any longer.

But can they get it?
Availability of supplies is getting to be an issue also.
/edit that would be an important thing - it's no good saving money if the item is not available.

 

[4570Man]

lately, my supply houses are letting me down big time. used to be cheaper than hd or lowes. not any longer.

My local supply houses suck. They’re more conveniently located is the only reason I ever stop but Lowes is outselling them usually by a lot on virtually everything. One of them is named wholesale supply. More like retail plus 20 percent supply. And to make matters even better they close at 4:00 and of course don’t open weekends.

 

[MasseyFerg231]

This proves once again that posting here is alway a wise first step. I am getting much advice, information and support and it is very much appreciated. I mean that.

I will think over my strategies - with the input received here.

Possibilities and likely: (all will be documented in emails)
Let them know that they will be in breach, but that settlement is a far better course - and make an offer to pay some of the increase - acknowledging they are getting hit with increases - but not my fault - and agreeing on any other details that may present issues going forward.
Depending on how that goes:
-cancel and get the refund (BTW - the builder said he hopes I will not cancel)
-get bids on the existing and approved plans
-consider tackling the build ourselves - and perhaps downsizing what we contemplated
-consider a totally different plan, a log cabin kit, or other options.
(I do see cabin kits at reasonable prices - downsized from what we were going to build, but recognize the issues they present)
-talk to some of the locals as to what they might be able to help with.

I will discuss all this with my (uber deserving) daughter and SIL tomorrow when they are both here.

BTW - in reliance on the agreed to contract price we proceeded with, and budgeted for everything else - well drilled, pad, road septic test holes, pump installed, water tanks bought and delivered and pad built for those, water yield tests and more.

Also consider panelized construction. Costs are kept down slightly due to being built offsite and avoids a lot of waste and extra time, etc.