There can be little dispute that adding a new garage door to your property can not only enhance the aesthetic appeal of the home but can increase its value, too. While improving the security of the property, often reducing energy costs and helping to minimize maintenance, there are multiple reasons why investing in a new garage door makes good financial sense. However, the potential for a strong return on investment (ROI) can vary depending on where you live and how much you spend on your new garage doors.
What does the data tell us?
Current data gathered from real estate firms all over America shows that replacing your garage doors with new ones (and naturally, better or more modern ones), has the potential to raise the homes’ value by an average of $2,810. If the average cost of replacing garage doors comes in at around $3,304, then it’s safe to say that you can expect to get an 85% return on the cost, a statistic that is widely believed to be applicable nationwide.
However, when compared to the data related to replacing garage doors in the west of America, the return has been predicted to give an ROI of up to 110.8%.
If ROI is your priority, what should you do?
Considering what current research is showing us, if you don’t live in Western America, your best strategy might be to purchase a low-to-moderately-priced set of garage doors, to enhance the curb appeal of the property. Note that it should significantly improve the overall look for it to have the most impact and make the most impression on potential buyers. For an even better chance of a strong ROI, you should think about investing in an automatic garage door opener, too. When the new garage door is coupled with the convenience of an opener, the combination could prove a winning one, and you could be looking at a hefty return on your investment.
Replacing your garage door is a big financial commitment, no doubt about that, but if you’re looking to sell your property now or in the future, it could help your home stand out from the others in the street, and could get you a sale far quicker than you imagined. Not only that, but new garage doors are much easier to maintain, making it simpler and less costly to keep them looking brand new. If you’re not selling your home now but decide to a year or few down the line, then your doors should still be looking as fresh as the day you bought them.
