The rise in renovation costs can be attributed to a confluence of several factors. The foremost among them is the increase in building materials cost, such as ceramic and glass products, which have gone up by double-digit percentages over the past year. Shipping and freight fees have also played a crucial role in driving up costs, adding to the already high production expenses for manufacturers. Furthermore, the lasting effect of the COVID-19 pandemic and other geo-political events have disrupted supply chains worldwide, leading to supply shortages and further price hikes. Contractors and builders have had to adjust their pricing accordingly, leading to cost increases for consumers looking to renovate their homes.