Reminder that a 10-percent tariff on imported Chinese goods will be implemented on September 24th, 2018. Take this into consideration when pricing upcoming Real Estate projects. I have already got notifications from vendors to expect price increases starting Oct 1st, 2018.
This will have an impact of all aspects when flipping, renovating and maintaining rentals.
Granite, Quartz, Kitchen Cabinets, Metal, Wood etc. price accordingly going forward.
On Jan. 1 when the tariff rate jumps to 25%. Further, this increase is coming on top of the current 20% tariffs on softwood lumber imports from Canada.
Material costs are certainly up in my local market. The larger builders have dealt with this by slowing their current projects and reducing commissions to buyers agents.