There are many benefits to replacing your old garage door. It will improve curb appeal, energy efficiency and security. A new garage door also has the best return on investment compared to other home renovations.
The cost vs. value of a garage door replacement
For 2019, a garage door replacement was number one for the highest return on investment. That means that it was able to recoup the most of its renovation cost at resale, compared to all other interior and exterior home renovations.
A new garage door replacement will recover 97.5% of it’s cost at resale. If you spend about $3,600 on a new garage door, you can expect your property value to go up by at least $3,500. That’s a pretty good ROI!
Why is it worth so much?
Garage door replacements are so valuable for a few reasons. For attached garages, the garage door makes up for most of the home’s façade. If you have a worn-out garage door, it can diminish your entire curb appeal. Curb appeal is very important when it comes to appraising real estate.
A new garage door can also improve your home’s energy efficiency when it’s attached. This can help you save on monthly energy bills and appeal to buyers in the future. Finally, a new garage door will greatly improve security for both your home (when attached to the home especially) and the contents of your garage.
It’s an affordable upgrade, compared to other home improvement projects, so you don’t have to break the bank to reap the benefits. All in all, a garage door replacement is worth your hard-earned renovation dollars.