How the covid economy triggered soaring costs at this dream home

Carrie and Nate LaChance were watching HGTV from their home in Orlando in 2018 when montages of stunning, palatial houses popped up on the screen. They were hooked. And so the couple decided to move to the Dallas area — sight unseen — and build their dream home.

What they discovered seemed serendipitous: an untouched, lakefront lot, which they bought that year for $260,000. They started their building plans in 2020, and Carrie, a model, started posting updates from the “Castle” on Instagram, taking her 1.1 million followers along for the groundbreaking, the selection of a 24-karat gold sink, and the arrival of glittery stone slabs named “Silver Mist.”

Four years since they began, the LaChance’s home isn’t finished. Like a structure that withstands rain, snow, wind and hail, their home has been bombarded by every twist and turn in the pandemic economy. Labor shortages. Housing price run-ups. Supply chain snarls. Manufacturing problems. Inflation.

The house is still missing windows. And every piece of the house — every plank of wood, every nail, every appliance — has cost far more than planned. The initial budget started around $3 million, but a torrent of global forces have added hundreds of thousands of dollars to the final product.

The local lumber supplier’s costs doubled since the pandemic began, then fuel costs ramped up tenfold after Russia’s invasion of Ukraine. An appliance company was hammered by an ongoing chip shortage and production issues that pinched things like refrigerators and washing machines. No one can plan for what their products or services will cost.

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“It was like a chain reaction,” said Joshua Correa, a Dallas native and the LaChance’s home builder. “Everybody started charging more — for everything.”

The chaos swirling around the housing market has swept up millions of families — from those chasing their dream homes to those trying to become first-time buyers. Few builders or construction workers have been spared, especially in the Dallas area, which has some of the highest inflation rates in the country.

This is the story of how the unusual forces shaping the covid economy collide under one (very expensive) Texas roof.

When the LaChances moved to Texas, they knew that finding their dream home would take patience and work. They looked for a plot of land and began sketching out what they’d want to include: a movie theater, a gym, a pool. In the meantime, they grew their businesses, including one that manufactures and sells a line of hosiery, lingerie and high heels.

Carrie’s fans from her modeling career have been along for the ride. Every day, she’ll get messages from her online followers asking how she and Nate came up with the design or when they’ll finally get to move in. Eventually, the LaChances’ home will also host much of their work, so they can showcase their products and stage photoshoots.

Ultimately they are footing the bill for each delay or redrawn contract on their dream house. But they’ve…