A power tool having a depth adjustment mechanism includes a motor housing, a support base for supporting the motor housing, and a depth adjustment member coupled to the support base and movable between two positions. The depth adjustment member in a first position contacts a surface portion of the motor housing and in a second position is distanced from the surface portion of the motor housing such that the movement of the depth adjustment member from the first position to the second position is in a direction parallel to a plane that is substantially tangent to the surface portion of the motor housing.