This infographic shows what the price of lumber looks like visually. It's no secret, the price of lumber is skyrocketing. But numbers are one thing, visualizing them is something else. This infographic shows by example how much the price of lumber has impacted the cost of building homes.
Over the course of 1 year from 2020 - 2021, the price of lumber has risen 377%. Which has had a huge impact on the cost of building a home. While that may seem like a large number, the infographic does a great job of showing what this price increase really looks like.
In 2020 the cost of 1000 square feet of building material was only $343. Now in 2021, the cost of this much lumber has risen to $1635.
As you can see in 2020 50k worth of lumber could build 10 and 1/20th single family homes, while in 2021 this same amount of lumber can only build 2 and 1/10 homes. So $50k can build 8 fewer homes in 2021 than it could in 2020.
A single-family home in the US is 2,301 square feet, which amounts to 14,496 board feet. At 6.3 bd ft/sq ft.
It’s true, home improvements can be great exercise, but when it comes to the cost of lumber. You will want to avoid purchasing more lumber than you absolutely have to. A few ways to save money on home improvements include; buying wood directly from the mill, using less popular types of wood material, and considering recycling old material.
At the end of the day, the cost of lumber has greatly impacted the cost of building a single-family home. This infographic on the cost of building a home was made by the Visual Capitalist. Check out their article for more great info. And in the meantime share this design with your friends and family on social media.
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