The trade war between the United States and Canada is set to raise costs for home renovation and construction. Ottawa imposed retaliatory tariffs on September 8, 17 days after Donald Trump’s 50% duties on Canadian products, including plywood, laminated veneer lumber, fiberboard, and Portland cement, went into effect. In 2025, after the first round of tariffs, builders raised prices by 6.3%, averaging an increase of $10,900 per home, according to the NAHB/Wells Fargo Housing Market Index analysis. To mitigate these price hikes, homeowners can turn to financing products backed by their home’s value, such as cash-out refinances, home equity loans, or home equity lines of credit (HELOCs), which typically offer lower rates than unsecured options like personal loans or credit cards.
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