Will investing in a new garage door increase the value and curb appeal of my home?
The answer is YES! According to Remodeling Magazine’s 2013 Cost vs Value Report, garage door replacement continues to rank as one of the lowest-cost home improvement projects with a high return on investment.
National Ranking of Garage Door Replacement:
- #2 in the Upscale Project category: An upscale garage door ($2,720) recoups 75.2% of its cost upon home resale.
- #3 in the Midrange Project category: A midrange garage door ($1496) recoups 75.7% of its costs upon home resale.
In 2011-2012, all but three home improvement projects saw a drop in cost-recouped percentages, raising a question about the stability of the building and remodeling industries. However, the 2013 report shows an increase in the cost-recouped percentages for all 35 remodeling projects.
According to the report,
“The upturn in this year’s Cost vs. Value Report is an encouraging sign that the remodeling industry may have turned the corner. It squares with the Harvard Joint Center for Housing Studies’ LIRA (Leading Indicator of Remodeling Activity) and with our own RRI (Residential Remodeling Index), both of which forecast a strong recovery for remodeling in 2013.”
Remodeling Magazine’s 2013 Cost vs Value Report compares the average cost and resale value of 35 popular remodeling projects. Read more about the report and view specific data for your geographical region.