The Property Brothers Fear Trump's Tariffs Could Send Construction Costs Soaring

HGTV home renovation stars Jonathan and Drew Scott – best known as the Property Brothers – are fearful that Trump’s proposed tariffs could send construction costs soaring.

The brothers' native Canada, along with Mexico, has been in the President-elect’s tariff crosshairs, threatening that if both countries don’t stop the flow of migrants and drugs into the U.S., they will be hit economically through trade tariffs.

“Jonathan and I love the idea of domestic-made products,” real estate agent Drew Scott, one-half of the 6ft 5″ identical twins, told Bloomberg. “There is a balance we need to strike,” Jonathan, the contractor of the two, added. “Blanket tariffs are not good for any economy,” he said. If those tariffs include essential building products such as steel and lumber, the results could be devastating for homeowners looking to renovate and the construction industry, causing newly built homes to increase prices sharply.

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A $2.8 Billion Home Goods Empire and $200 Million Net Worth

The Scott Brothers have a lot at stake. They have a $2.8 billion home goods brand empire but, as TV hosts, they also have the added benefit of not simply relying on selling products to pay the bills. “We’ve made money in every kind of market possible,” Drew said. “Upmarket, down markets, buyer’s seller’s markets, it doesn’t matter.”

The brothers feel that extensive renovation projects and house flips will likely take a back seat in 2025 if interest rates do not come down. A trade war will only exacerbate things. The Scotts have plenty of outlets to invest their $200 million (according to Celebrity Net Worth) net worth if house flips falter.

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Endorsement Magnets And Multiple Real Estate Reality TV Shows

They have created a fixer-upper reality TV empire, with dozens of HGTV shows, books and even a cruise under their umbrella. In addition, the Scotts have, according to Variety, multiple endorsements, appearing in ads for Chase Bank, LendingTree, ADT security, Dish Network and American Family Insurance, to name a few. The LA-based production company, Scott Brothers Entertainment, is home to their many TV shows. At the same time, their retail and e-commerce home-furnishing product lines are ubiquitous in multiple retail outlets such as Living Spaces, Macy's, Home Depot, Lowe’s, Wayfair and Amazon. They also have a “Property Brothers Home Design” mobile app that debuted in 2019 with publisher Storm8. Everything is housed under their multibillion-dollar business, Scott Brothers Global.

A Venture Capital Fund

In addition, the brothers have created The Healthy Home Innovation Fund, a VC fund for home-related businesses and innovations.

“We said, ‘Well, why don’t we create a fund where we’re actually putting our money where our mouth is, find these young talents, get their ideas through our machine and to the next level?'” Jonathan told Inc.com. “And that’s the goal.”

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The brothers founded the Healthy Home Innovation Fund with GroundBreak Ventures and partner Sanders Lee in 2024. It is raising $50 million to $80 million to deploy to startups developing the latest technology for sustainable home improvement.

“Whether it’s decarbonizing your house, heat pumps, air quality in your home, how you transact, buy, sell, renovate or design – anything that touches home fits our pillars,” Drew added, explaining that he and Jonathan are “leveraging our brand and our facial awareness to help scale up some of these startups to really make them known, so we can bring the price points down to make it feasible for families.”

Tariffs or not, the Property Brothers' home renovation empire seems unlikely to crumble anytime soon.

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