Are you planning to sell your home, or looking to increase your home’s value? A new garage door could be just what you need! In addition to increasing a home’s curb appeal, garage door replacement ranks as a top home improvement project with a high return on investment.
The 2017 Cost vs. Value Report by Remodeling magazine ranks many different home improvement projects in terms of the percentage of cost recouped when the home is sold. The report presents data in two categories: midrange projects and upscale projects. Garage door replacement is presented in both categories.
An example of a midrange garage door replacement would be a brand new 16’x7’ single-layer, uninsulated Amarr Stratford ST1000 or Amarr Lincoln LI1000 garage door. Based on national averages, the average job cost of a midrange garage door replacement is $1,749, and the resale value is $1,345. This means a homeowner would recoup 76.9% of the cost, ranking midrange garage door replacement as the fifth-highest return on investment.
An example of an upscale garage door replacement would be a brand new 16’x7’ triple-layer insulated Amarr Classica CL3000 garage door with insulated glass windows and a lifetime warranty. Again, using national averages, the job cost for this type of door is about $3,304, and the resale value is $2,810. The homeowner would recoup 85% of the cost – the highest return on investment in the upscale projects category!
For your next home improvement project, if your goal is to increase the value of your home, think garage door replacement.
Click here to read the entire 2017 Cost vs. Value report.