If you’ve turned on the news or scrolled social media over the last few months, you’ve probably seen one theme pop up over and over again: tariffs. These levied taxes on imported goods are driving up the costs and price increases in every sector, from imported automobiles to the produce in your grocery cart. However, when it comes to a home remodeling project, you may be underestimating the impact of tariffs on building material costs.
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Home renovation projects now have consumers wary of how increased prices of softwood lumber, steel or other construction materials caught in the supply chain could affect their plans and underlying overhead. Find out how tariffs on imported necessities for your renovation could now push past the limits of the budget.
Home Renovations Most Affected by the Tariffs
Jose D. Escalante, a home improvement strategist from Roofing Craftsmen, said tariff increases have particularly affected the cost of materials — in particular lumber, steel and roofing products. For example, Trump and his White House administration increased tariffs on steel imports by doubling them to 50% under Section 232.
As a result, Escalante said, “we’ve seen increased costs in everything from kitchen remodels to outdoor improvements, as these materials are integral to many home projects.”
Outdoor renovations, including pool installations, patios and landscaping, have been especially hard hit because of increased concrete and steel costs.
Escalante added, “Roofing and siding projects are seeing higher costs due to tariff-related increases in the price of materials like shingles and siding.”
According to Jim Marino, home improvement expert and CEO at Pinnacle Home Improvements, “The projects that are most affected by tariffs are those with solar installations and kitchen remodeling.”
But regardless of the type of renovation, Marino explained, “Any project that requires the use of imported materials will wind up costing more.”
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Can Homeowners Avoid These Increased Costs?
Unfortunately, the only real way to potentially avoid tariff-affected products and any related cost increases is to delay your projects, which is what Escalante said he sees happening.
“Homeowners,” he explained, “are being more cautious and selective about what renovations they undertake.”
Marino advised homeowners to stay aware during their home renovation process and to pay attention to where their materials are coming from. If homeowners can prioritize working with contractors who source their materials domestically, that can help keep costs lower.
Another strategy he recommended is to expect fluctuations and “compare prices to give you a better idea of what it may cost.”
Homeowners May Not Want To Wait
Managing home renovation costs with tariffs in the mix is a challenge. Escalante pointed out that “homeowners are feeling the pinch, especially when tackling larger-scale renovations” and potentially delaying their projects.
However, Marino said, “Waiting may mean that certain items are not available or come at a higher price due to tariffs.”
Working with a company that gives you a clear quote and detailed pricing can help you make your decision with as much information as possible.
Caitlyn Moorhead contributed to the reporting for this article.
Editor’s note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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This article originally appeared on GOBankingRates.com: Tariffs Are Impacting Home Renovation Prices — Here’s What You Need To Know
