You really can judge a home by its cover. Appearance can tell you a lot about a property, not the least of which is how much care was invested in its maintenance and upkeep. So it’s really no surprise to learn how much emphasis realtors place on curb appeal when it comes to resale value. And one of the clearest and obvious ways to raise a home’s curb appeal is to renovate the garage door.
The numbers are clear, and they don’t lie. Garage door replacement ranked #1 in REMODELING magazine’s Cost vs. Value Report, which ranks home improvement projects by their return on investment (ROI) at resale.
The survey compared average cost for 21 popular remodeling projects in 149 markets with the value those projects retain at resale in 100 U.S. markets. The survey is in its 31st year.
Truth in Numbers
According to the survey, an investment of $3,470 on an upscale garage door replacement delivered an estimated $3,411 when the house sold. That’s a 98.3 percent ROI on average, nationwide.
In fact, in 46 of the 100 individual markets, an upscale garage door replacement actually recoups more than 100 percent of its cost.
Like everything else in life, you get what you pay for when it comes to a new garage door installation. The better quality of door you are able to install, the greater improvement you’ll have on your home’s equity. That’s why we caution against being too cheap when deciding how much you want to invest in a door. Talk to your bank about a home improvement loan. Plan to invest in a new garage door after this year’s tax return. Most homeowners only buy one or two new garage doors during their entire lifetimes. Make this investment count with a quality door that substantially boosts the value of your property.
New Advantages in Smart Garage Door Technology
The truth is garage doors have come a long way with smart technology over the years. Smart technology connects your garage door to the Internet so you can control it via an app. This way you can open your garage door from any connected device like your phone. You can also view your garage door online. This is great for security, providing delivery drivers access to your garage to eliminate package theft, or being able to close your door if you leave it open one morning. A smart garage door is a great way to improve the value of your home.
The Investment Opportunity of a New Garage Door
Most people only buy one garage door their entire lives. It’s easy to see the buying appeal on a house that’s had a recent garage door replacement. Those new owners can rest and breathe easy for the next 20 to 30 years and always have a great working garage door.
An Investment Worth Saving For
Of course, the return on the investment you make on your new garage door is relative to what you spend. That’s why it’s a good idea to buy a high quality door. This is not an everyday purchase. Not only does it take planning, but it also takes savings and fortitude. That’s why a new garage door is a great purchase for a tax return. You might also consider talking to your bank about a personal loan. Because unlike a vacation, a new garage door pays you back when it comes to improved home equity. It’s an investment worth saving for.
So the bottom line is if you are considering selling in the next few years, you might want to think about a new garage door today. It’s an investment that will pay you back. You’ll be able to see the home easier, and sell it for substantially more money. And that’s a win win, for the buyer, for you, and for the entire neighborhood.