Tariffs on materials like lumber, steel, and aluminum are driving up costs for home renovation projects, causing some homeowners to rethink their plans. Builders report that suppliers have already raised prices or plan to do so, attributing the hikes to the Trump administration's trade levies. The National Association of Home Builders estimates that these price increases could add around $10,000 to the cost of a typical renovation project. To save money, some builders are pre-ordering materials before prices rise, with one builder saving thousands on roofing supplies for a client. Homeowners are advised to prioritize exterior repairs and consider fresh paint as a cost-effective way to refresh their homes amidst the tariff-related price hikes.
Source: https://www.cbsnews.com/news/tariffs-construction-remodeling-costs/