How The Downturned Economy Has Affected Manufacturers Of Windows

The downturned economy has affected nearly every industry, but none were hit harder than companies that work with real estate. Fewer people are buying houses than ever before, which means that realtors need to be extra aggressive in order to find buyers for their clients. However, it's not just realtors and home sellers who have been affected. Window manufacturers are closing all over the country, but what exactly is causing this? Here's a look at the complex reasons behind this turn of events.

Fewer Homes Being Built Equals Less Of A Demand For Windows And Doors

While it's possible to find home builders all over the country who are still building and selling new homes, this number has dropped dramatically in the last few years. Fewer buyers are able to qualify for a home loan and even fewer have the 20% (or more!) in cash that's needed to put down for a traditional home loan. Many builders have ceased operations, which means that companies that manufacture windows and doors are fighting for the slice of business that comes from new home builders.

Even further reducing the number sold is the influx of existing houses that are on the market. As many people are losing their homes to foreclosure, these houses are sitting on the market and empty. Home buyers know that they can get a great deal on an existing home, which means that more are flocking to existing homes instead of buying new.

Homeowners Are Putting Off Replacing Windows

Many homeowners are struggling to stay in their homes, which means there's less money available for repairs or updates that aren't deemed a necessity. While new windows do mean that a house is more energy efficient, unless it is cracked or the wooden frame is rotting, homeowners don't have an immediate need to update them. Replacements might not be the biggest part of a manufacturer's sales but this reduction does make a difference in the company's bottom line.

What To Look For If You Do Need Replacement

If you do need replacement windows and doors, look for a company with history and solid performance. Ask different contractors what brands have the best reputation in the industry. While it's impossible for anyone to tell the future, a qualified contractor should be able to help you choose a company with a strong financial standing and quality products. They'll also be able to help you determine which type is right for you and help you choose the right windows and doors for your home, however, don't settle for their word. Take some time and do your own research before choosing a window replacement company.

While it's sad that the economy has caused a number of manufacturers of windows and doors to close their manufacturing plants, this doesn't mean that all window companies are doomed. If you're looking to update your home in the near future, do extensive research on the company's financial well-being. After all, if the company you choose ends up going out of business, you could be left without a warranty.

Opal Enterprises provides many home improvement services, including installing Elmhurst windows and doors. To ensure customers are receiving the best, Opal Enterprises uses the right Elmhurst windows for each home. To see a gallery of finished projects from Opal Enterprises, including windows in Naperville, visit the company's website.

View the original article here