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.
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.
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.