Home remodeling can enhance comfort, convenience, and property value but may be impacted by rising costs due to inflation and potential reinstatement of tariffs on construction materials. Trump's tariffs on imports, particularly softwood lumber from Canada and Mexico, could further raise expenses for homeowners. Experts suggest that there are ways to approach remodeling financially, despite the uncertainties surrounding the tariffs that could affect material prices. Industry professionals express concerns about the implications of these tariffs on construction costs and the housing market overall.
"In 2023, the U.S. imported 28.1 million cubic meters of softwood lumber from Canada, primarily for residential and commercial construction. Tariffs unequivocally work towards pushing domestic lumber prices higher. When that happens, it usually adds up to higher costs for consumers."
"Despite tariffs being temporarily suspended, many industry insiders are nervous about the consequences if Trump implements them in a month."
Collection
[
|
...
]