Your garage door is a significant part of the front of your home. It would only make sense that a new garage door would increase your home’s curb appeal and overall value. In fact, a garage door replacement is one of the best home renovation projects to choose from as it produces some of the highest return on investment compared to other projects.

New Garage Door Installation by the Numbers

The numbers don’t lie. A study by Remodeling magazine found that replacing the garage door gives homeowners more return on investment (ROI) than any other home remodeling project. It’s the second consecutive year the magazine has listed new garage door installation as its top home improvement when it comes to accruing equity and boosting property values.

The Remodeling survey compared “typical home-improvement project costs with what those projects contribute to a home’s price at resale.” It calculated the average cost versus the value of 22 popular home improvement projects, including installing a new garage door. Included in the study where nine U.S. regions and 136 U.S. markets.

The average cost for a new garage door was $3,611 and the estimated value at resale was $3,520. That’s 97.5% ROI, far exceeding the 66% average for other remodeling projects.

Why do you ask? According to the report, “the reason for high returns on exterior projects, and especially façade facelifts, stems from the valuations set by the real-estate community.”

Yes, installing a new garage door has such a great ROI that’s practically money in the bank. It’s the perfect way to invest the tax return, inheritance, or raise — and may be a very good reason to take out a home improvement loan.