PASCO COUNTY, Fla. — Some remodeled homes in the Tampa Bay area have been sitting unfinished for months as pandemic related supply chain problems continue to fuel inflation, according to Templar Contracting based out of Trinity.
“This can’t go on. It just can’t continue like this,” said Regan Weiss, 42, co-owner of Templar Contracting. “It’s a recipe for chaos for every industry.”
What You Need To Know
- It’s taking months to get home remodel supplies like windows and trusses
- Last month, the consumer price index jumped by 7% from a year ago
- Templar Contracting estimates inflation has eaten away 10% of profits
Weiss along with his business partner, Joey Deeb, said a Gulf-front home they began remodeling in Holiday has been at a standstill for two months as they wait for trusses to arrive.
“Complete standstill. It’s a chronological order,” said Deeb, 42, co-owner of Templar Contracting. “So, there’s nothing else that can really be done. You can’t do anything inside without a roof.”
Weiss said their business lost thousands of dollars waiting for truss’ on another home they recently remodeled.
“There was a job this year that we took a hit of $7,500 because the trusses went up that much from the time we signed the contract to the time we got the trusses in,” he said. “So, we either pass that along to the homeowner or we take the hit. We took the hit.”
Last month, the consumer price index jumped by 7% from a year ago. Reaching a 39-year high and the largest 12-month spike since June 1982.
Templar Contractors said windows are taking three months to arrive. There’s also a lack of supply and delivery of concrete block for smaller contractors, according to the co-owners.
“One of the problems is a lot of the block is reserved and they’re reserved for the big builders,” said Weiss. “We’re a small business but they work with us. So, that’s a blessing but at the end of the day it is chokepointing us.”
Deeb said he knows the manufacturer is working as hard as possible to make product and there’s plenty of frustration to go around.
“Sometimes you can’t get your full order and you just take what you can get,” he said. “The bottom line is if you’re a small contractor and you need block most likely you’re picking it up.”
Deeb said inflation has eaten away at a decent chunk of their profits.
“Standard in the industry is somewhere between 20% and 30% profit and overhead, but you lose 10%, that’s a third,” he said. “You still have the overhead. So, you’re down to barebones.”
Despite all the challenges, Weiss said they’re still managing to complete their projects but it’s just taking a little bit longer.
“We’ll get it done in the end. It’s going to look beautiful,” he said. “They’re going to be happy.”
