Home renovation costs are poised to rise significantly due to new tariffs implemented by the Trump administration, as reported by USA TODAY. These tariffs affect a wide range of imported materials and products commonly used in home improvement projects, including items like marble, tiles, and appliances. Industry professionals have already observed price increases and supply chain disruptions, leading to project delays and cancellations. For instance, Kevin Twitty, a designer based in Portland, Oregon, noted a 25% increase in renovation costs and mentioned that some clients are pausing their projects due to the uncertainty.
The impact of these tariffs extends beyond imported goods. Even domestically produced items are experiencing price hikes because they rely on imported components. For example, while asphalt shingles for roofing are made in the U.S., the fasteners used are often imported from China, and their prices have surged by nearly 70%. Companies have attempted to adjust by sourcing materials locally and stockpiling supplies, but these measures offer only temporary relief. The ongoing trade tensions are expected to lead consumers to prioritize essential renovations over discretionary upgrades, potentially slowing growth in the home remodeling sector.
