Home renovation projects can pay off by boosting your property's value, but after four years of inflation-related price hikes on materials, the cost of a remodel stings.
Now, possible tariffs threaten even higher prices in the months ahead. Luckily, there are creative ways to keep costs down and some improvements in supply.
Cabinets, windows, much easier to get
Brian Kelly with Murphy Home Improvement said it's been a rough four years getting home improvement projects completed due to global supply chain delays. Lately, he said, cabinets and other fixtures are no longer in short supply.
"We are getting product delivered in two weeks," he said, "for entry doors and windows."
Prices, however, remain a top concern for consumers, contractors, remodelers, and homebuilders.
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Despite Canadian tariffs being temporarily suspended, homebuilder Ben Fry of Fry Homes said the uncertainty surrounding tariffs could send prices skyward again.
"Some of those tariffs could add tens of thousands of dollars to the pricing of new homes," he said.
In the meantime, Alan Hendy, owner and CEO of Neal's Design Remodel, said some prices are falling faster than others.
"We found plumbing fixtures, and some other items are a little slower to come down," Hendy said. "They go up like a rocket and down like a feather."
Watch Murphy Home Improvement and Neal's Design Remodel explain the 2025 rehab outlook:
How to lower your costs
So, how can you keep remodeling costs down?
- Ordering ready-to-assemble cabinets, as opposed to custom-made
- Upgrading your hardware and countertops only and keeping your existing cabinets
- Ask your contractor about using leftover granite or other materials from another job
- Shopping for discounted floor-model appliances
Customers at a recent home expo realized that prices are high after four years of higher inflation, with one telling us, "They're outrageous, but that's what it costs."
Other customers like Rebecca Karen are forging ahead with projects.
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“We have a half bath we want to remodel," she said.
After all, if you wait another year, prices could be even higher and wait even longer.
“Our spring start dates fill up fast. Our summer start dates fill up fast,” Hendy said, “so people don’t realize the time it takes to do the planning and the pricing.”
That way, you don't waste your money.
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