Replacing Your Garage Door Ups Home Resale Value
The old adage “you have to spend money to make money” is only true if you spend money wisely. When selling your home, you should make upgrades to improve the curb appeal and perceived value of your home in the minds of buyers. According to the annual Cost Value Report published by Remodeling Magazine, replacing your garage door gives you an 83.7% return on investment across the nation.
Some improvements might make your house look better, but not all add to the resale value. Since your purpose in sprucing up your home for sale is to be able to command a higher selling price, you want to concentrate your renovation efforts on the ROI.
The Survey Says: You Can’t Go Wrong With Garage Replacement
The Cost vs. Value survey breaks the country down into nine regions that show the impact of improvements in different parts of the country. No matter where you look, garage door replacement pays off whether you choose a basic door or a more upscale insulated model. Below is the percentage return on the investment if a new garage door:
Basic vs. Upscale New Garage Door ROI by Region
East North Central 83%/76%
East Central 80%/79%
Middle Atlantic 84%/78%
New England 85%/87%
South Atlantic 89%/85%
West North Central 61%/61%
West South Central 76%/83%
How Buyers Think
Garage doors, because they are so large, are one of the first things potential buyers notice when they walk up to a home. A shabby, discolored door can turn off visitors and put them on alert that your home might not be well maintained. Even if your home has more problems than you can afford to fix, attending to your garage door is a good investment no matter where you are in the country.
Buyer psychology is a funny thing. Watch a few home shows, and you realize that buyers want and even expect modern features in their homes, yet these improvements do not always pay off. When they do, for example in the case of a kitchen remodel, a seller might realize an 82.7% return for a modest kitchen remodel. A garage door replacement returns for a great ROI and a huge burst in curb appeal. Even if you opt for a more expensive door, you may get an even better rate of return, depending on what part of the country you’re in.
What To Choose
Selecting a new garage door for your home gives you the opportunity to choose one with the color, style, hardware, and window placement you desire to enhance the appearance of your home. Equipped with new springs and cables, the door will also be safe for your family and for the new one who will inhabit your home.
Even if you are only replacing the door to enhance its appearance before you list your home, aim for a door that has the safety features, insulation, and quietness of operation you would select for your own family. Since you will recoup such a great percentage of your investment, taking a little time to research the best door for your home will pay off when you sell. By replacing your garage door, you can get more for your home.