It’s still early in 2013, and, if you are like most homeowners, you may be contemplating what home-improvement projects you’d like to tackle this year. If increasing your home’s curb appeal is on your honey-do list, then we’ve got great news for you.
According to Remodeling Magazine’s 2012 – 2013 Cost vs. Value report, eight of the top 10 remodeling projects that have the highest return on investment (ROI) for homeowners are those that enhance curb appeal. Among those projects, garage door replacement is one of the highest ranked and lowest in cost.
Regardless of the type of garage door upgrade you are making — entry-level to mid-grade or mid-grade to upscale — you could expect an ROI of more than 75 percent at resale on average.
At 75.7 percent ROI, mid-grade garage door replacement was the second-best ranked project for returning value when spending less than $5,000. The survey determined the ROI by evaluating the typical $1,500 cost to replace a basic garage door with a mid-range door model. At the time of home resale the garage door replacement was valued at $1,132, or 75.7 percent of the original cost.
The report says home owners who upgrade from a mid-level door to an upscale replacement will see a 75.2 percent ROI making upscale garage door replacement the third-highest ranked project under $5,000. The roughly $2,700 cost to replace a mid-range garage door model with an upscale one delivered an estimated value at sale of $2,046.
To help determine accurate ROI values, realtors nationwide were asked 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 not only the national average value returned on common home remodeling and renovation projects, but also the expected ROI in nine U.S. regions and 80 U.S. cities.
If you think that a garage door replacement could be in your future, we’ve made it easy for you to pick out the perfect door to match your home’s style and your budget. Overhead Door’s DoorView™ Design Center is an online tool where you can upload a photo of your home and test out different Overhead Door garage doors to see which will enhance your home’s curb appeal the most. Of course, one of our professional Overhead Door distributors can help you with that decision too. Visit our distributor locator to find one near you.