Are you looking to enhance your home’s curb appeal? Maybe you’re getting ready to put your house on the market, or you’re looking for the most economical way to spruce up the appearance of your house with the best investment. By changing your garage door, you can take your home’s overall look from basic to beautiful.
For four years and counting, garage door upgrades return high home renovation values. Replacing a garage door is not only one of the most affordable home improvement projects, but also can nearly pay for itself, according to Remodeling magazine’s 2015 Cost vs. Value survey. The survey makes an annual comparison of popular home renovation projects, and breaks down the results for consumers and homeowners.
The survey determined the average cost to replace a mid-range door with an upscale door to be $2,944, and found a $2,429 value of the project at home sale, which equates to an 82.5 percent return. This makes garage door replacement the second-best remodeling project in terms of return on investment (ROI) in the upscale home improvement category. In the mid-range home improvement category, the results were also positive; the survey revealed a garage door replacement delivers an average 88.4 percent ROI for homeowners, the third most affordable home improvement project in the category.
The Cost vs. Value report is conducted in partnership with the National Association of Realtors. 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 102 U.S. cities. For access to detailed renovation data on the go, an iPhone app is also available through the Apple iTunes store.
