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29 Sep
Study Shows New Homebuyers Prefer Masonry Built Homes for Their Resale Value and Energy Efficiency
Sep 29, 2011
A new survey on new homebuyer preferences shows that 89% of Ontario new home shoppers prefer a house made of brick or stone, but most also believe it is the most expensive option.
The idea that opting for a masonry exterior is vastly more expensive is a myth potential homebuyers should see past, says MasonryWorx President Dante Di Giovanni.
“Building your new house out of brick versus vinyl, for example, adds only 2 to 4% to the cost of the house,” said Di Giovanni.
Manny Brilant, senior design manager at Greenpark Design and Project Management says that, “the majority of our purchasers have continually shown their preference for brick and stone because it is available in a broad range of colours, easy to install, relatively maintenance-free and durable. Also, because brick and stone tend to hold their value well, the home is easier to re-sell.”
North American real estate professionals estimate that a brick home has a resale value 6% higher than homes built with alternative exterior materials; compensating for the initial investment in a masonry home.
The survey also revealed that 78% of new homebuyers put energy efficiency of their home as a top priority.
A computer simulation by the National Association of Homebuilders found that masonry buildings are 12 to 17% more energy efficient than other traditional building materials, even when the R-value of the building is 30% higher than industry standards.
“These are the tangible costs. What the numbers don’t show are the additional quality of life benefits of building with masonry — less street noise from neighbours combined with the greater peace of mind that comes with improved fire resistance,” said Di Giovanni. “With small lot sizes and houses being built closer together than ever before these benefits cannot be overlooked.”
The new homebuyers survey, commissioned by MasonryWorx, was conducted by Redfern Research and Pollara Strategic Insights to gauge consumer attitudes and awareness of masonry products. The study was conducted using The Pollara Townhall, Pollara’s online panel of more than 250,000 Canadians, recruited entirely from random-digit-dial telephone surveys.
The masonry industry contributes $2.8 billion to the GDP of Canada, $1.3 billion of that to Ontario’s economy. The masonry industry is responsible for 30,500 Canadian jobs, 14,220 in Ontario, resulting in $1.3 billion in household income in Canada and $600 million in Ontario.
MasonryWorx is the trade association of brick, block and stone masonry industry professionals.