Standing the test of time, the garage door is once again one of the best remodeling projects a homeowner, contractor or remodeler can invest in to obtain a major return on investment (ROI). For our dealers, this means there is an opportunity now more than ever to help people prepare for selling season, improve the curb appeal of their home and ultimately increase its overall value.
Remodeling Magazine conducted their annual
Cost vs. Value survey, which compares the average cost of a wide variety of popular remodeling projects with the value those projects retain at resale in housing markets across the country, and the results show that replacing or upgrading the garage door was among the top projects in retaining its value over time. In their 2016 survey the magazine found that installing a new mid-range garage door, which costs around $1,652, provides 91.5 percent ROI. For an upscale garage door replacement costing approximately $3,140, the ROI is 90.1 percent.
Beyond ROI, replacing the garage door can improve an aspect of the home that in some cases takes up 40 percent of its entire exterior, providing an immediate and dramatic enhancement to a home’s external appeal. And with homes, first impressions matter. A potential buyer’s perception of the home as they pull up to it can affect their perception of the entire house as they enter it, ultimately enhancing or hindering their desire to buy. Some of our dealers that work directly with realtors have experienced a home selling in one week after the garage door was upgraded, when it had originally been on the market for over 70 days.
Choosing a new garage door is more customizable than ever before, allowing homeowners to express themselves or make sure the garage matches the rest of their home. With options like
Carriage House Garage Doors and
Custom Wood Garage Doors, dealers are sure to be able to find a Wayne Dalton door that meets the needs of their customer’s next home improvement project.
What other tips do you have for homeowners looking to increase the value of their home? Have you experienced success by replacing the garage door? Comment and let us know!
The Cost vs. Value report is conducted in partnership with the National Association of Realtors (NAR). Hanley Wood, publisher of Remodeling magazine, asks NAR members nationwide to evaluate a variety of home remodeling jobs and then project the ROI homeowners could expect to receive when they sell their homes. The study, available at
www.costvsvalue.com, details both the national average value returned for common renovation projects, as well as the expected ROI in nine U.S. regions and 101 U.S. cities. For access to detailed renovation data on the go, an iPhone app is also available through the Apple iTunes store.