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An
example of the industry chatter comes from Frank Anton,
CEO of Hanley Wood Magazines. In February 2009, Mr. Anton
made several salient points in an editorial titled, "Think
Small." Among his comments, he wrote, "... in
this economic environment, most of the homes being built
are still too big and therefore too expensive ... On the
other hand, waiting in the wings are the late bloomers
in generations X and Y, and the early bloomers of the
echo baby boom ... They're mostly first-time buyers. They
don't have a home to sell (maybe at a loss). But they
probably do have a desire, or could be motivated, to buy
a house now if more builders were building much smaller,
much less expensive houses ... In most markets, land values
have dropped 50% from peak levels. That means it is possible
for builders to build smaller, less expensive houses and
still walk away with a profit."
Those
profits may be increased if builders combine smaller
homes with the big advantages of vinyl siding. After
all, vinyl siding delivers value in a variety of meaningful
ways, including:
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Lowest
total installed cost of any exterior cladding.
Brick
is 426% more expensive to install. The initial purchase
price of fiber
cement, including labor and finish, is 63% higher
than vinyl siding.* |
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No
maintenance costs. No painting, no caulking,
low maintenance features support appreciation without
using additional resources. Fiber cement requires
periodic painting or staining and caulking. Just
use your garden hose and household cleaners to spruce
up your vinyl siding. |
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Durability.
Warranties offered by vinyl siding manufacturers
are typically 50 years, and some products come with
lifetime warranties that can be transferred to the
next owner. |
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Sustainability.
Vinyl siding produces little waste during manufacturing
and installation. So homeowners pay for siding that
goes on their homes, not scrap that goes into a
landfill. In addition, insulated vinyl siding is
available to increase a home's R-value and reduce
energy consumption. And that's just one of many
reasons why vinyl siding is a truly green product.
To learn more, download a free "green
paper" and read the article
on the National Green Building Standard™ in
this issue. |
The
Gerson Lehrman Group acknowledged that the current financial
environment is ideal for vinyl siding in a recent report
that stated "... the U.S. economic meltdown is bringing
frugality back to homebuying and homeowning. A higher
percentage of smaller, affordable and 'greener'
homes are expected to be built in the future. And existing
homeowners will seek more cost-effective (and recoverable)
residing options in the future. Vinyl ... emerges as
the odds-on favorite to win more and more siding jobs."
While
vinyl siding's value
is certainly timely for today's economic climate, it's
an attribute the vinyl siding industry has been touting
for years. And why not? When a product combines affordability
with beauty, durability and sustainability the way vinyl
siding does, it's always relevant to the market's needs.
*R.S.
Means 2009 Residential Cost Data
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