Knowing how much garage door replacement boosts your home value can help you chart a course for renovation plans when considering selling your property. According to the Remodeling Cost vs. Value Report for 2015, garage door replacement ranked near the top of the list of all renovation projects as far as return on investment is concerned. Many people don’t know the average cost to built a garage and people also don’t realise how much value a garage can actually add to a house. If your garage doors have seen better days, now might be the time to take the plunge and get them replaced.
Crunch the Numbers
If a homeowner spent about $2,944 on a replacement door, he or she could expect to regain $2,429 in value when the property sold — an 82.5 percent return. And homeowners do not have to buy the most upscale product on the market to reap such a benefit. Garage doors at mid-level price points delivered an even better value. When property owners spent approximately $1,500 on a new garage door, they regained 88.4 percent at the time of sale. In comparison to other home renovation projects, garage door replacement ranks second in return on investment on a list of potential renovations under $5,000 based on 2014 data. The only home update that topped this option was an entryway steel door replacement. Some decide to look into improving their garage floor at the same time when they replace their garage door. I’ve heard good things from friends about CUTTINGEDGEFLOORINGSERVICES.COM as a service to check out if you wanted more information on garage flooring.
It’s rare to find a homeowner with the cash available to complete large-scale renovations. Even a minor kitchen remodel costs about $19,000 and only provides a 79.3 percent return. If you have a fixed budget for your home renovations and desire low-cost updates for a healthy return, garage door replacement should be a top choice.
Curb Appeal is Key
Whether you are selling your property or not, freshly installed garage doors add to the curb appeal of your home. Your garage is the largest forward-facing entrance and can provide eye-catching aesthetics, increasing attractiveness to potential buyers. Order a product in a bright color or one that complements your home siding and trim.
Improve Energy Efficiency
If your current door is aging, outdated and improperly sealed, your garage may be a major source of heat loss in cold winter months. Replace it with a solid steel door that boasts high R values and you could regain a portion of your investment in utility bill savings as well. If you notice a drop in utility charges after installation, mention it to potential buyers. That is another selling point – new homeowners love to save money.
Tighten Up Security
A brand-new set of doors complete with touchpad or keypad locking systems can strengthen the security of your home. With 9 percent of burglars entering homes through the garage, it’s important to ensure your entrance has maximized protection.
For all of these reasons, you can rest assured that a modern garage door will be a valuable asset to your property. For an individual assessment of your current garage doors, and to learn whether garage doors could increase your home’s value, contact Accent Garage Doors today.