Blog
December 5, 2024
How Tariffs Could Raise Home Costs: Buying Now Saves Money
The dream of homeownership is an exciting journey, but timing can also play a significant role. As material costs continue to rise due to increased tariffs and other market pressures, waiting to purchase a new home could mean paying more later.
How Tariffs Drive Up Home Prices
If you’re considering buying a home, it’s important to understand the effects of tariffs on construction costs. Tariffs are extra taxes on imported goods, and they’ve made materials like cement, drywall, and screws more expensive. Builders must pay these higher prices, and that cost is most likely passed on to buyers like you.
For example, the effects of tariffs have added about $2.5 billion to building costs nationwide, according to the National Association of Home Builders (NAHB). This is one of the reasons why new homes are becoming more expensive.
Why Home Prices Could Keep Rising
The effects of tariffs on essential materials like steel, aluminum, and lumber are significant. These tariffs, which remain as high as 25%, increase the overall cost of building homes. For example, disputes over Canadian lumber previously added $9,000 to the cost of a single-family home.
Why Buying Now Makes Sense
At NHC, America’s Affordable Builder, we are committed to delivering affordable housing with maximum square footage and usability. While rising material costs are outside our control, we work tirelessly to ensure our homes remain a great value for our buyers. But even with our best efforts, market trends mean future price increases are inevitable. We aim to minimize the effects of tariffs, but rising costs make it more challenging to keep prices low.
If you’re thinking about buying a home, now is the time. Acting now helps you avoid future increases caused by the ongoing effects of tariffs and rising material costs. Now is the time to lock in your price, secure your dream home, and avoid paying more in the future.
Take the First Step Today
Don’t let rising tariffs and material costs stand in the way of your dream.
Visit one of our communities today to find the perfect home for your family. Let’s make your dream of homeownership a reality—before prices increase.