The Home Builders Association of Iowa’s November Blueprint Newsletter features an article, “Increased Material Costs Leave Contractors Asking About Contract Protections,” by construction attorney Jodie McDougal.
In the article, Jodie discusses the significant increases in lumber and material costs since mid-April 2020. These increases are putting contractors and builders in a rough spot. She offers advice to builders - as the cost for materials soars, they should review their contracts carefully to see if they have options. Additionally, builders and contractors should consider revising future contracts to help protect themselves against abnormal material cost increases.