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If you’re looking for a home improvement projects that offers a strong return on your investment, garage door replacement consistently tops the list. According to Remodeling magazine's 2024 Cost vs. Value report, a new garage door provides an astounding 194% return on average nationwide, making it a savvy choice for homeowners looking to boost their property's value without breaking the bank.
A new garage door packs a powerful punch, with the potential to increase a home's list price by one to four percent, according to a Clopay® survey with real estate agents. What sets garage door replacement apart from other projects is its minimal disruption and quick turnaround – homeowners can enjoy an updated exterior in under a day with professional installation. In today's competitive housing market, a new garage door can be the differentiating feature that makes a house stand out to discerning buyers.
Affordability of Garage Door Replacement
Replacing an old or damaged garage door is often a necessity to maintain a home's appearance — but the good news is garage door replacement is one of the most cost-effective home renovations. Remodeling magazine’s report says an investment of $4,513 for a new garage door can yield an impressive average return of $8,751 at resale.
Fortunately, the initial investment for a new garage door can be made more manageable through available financing options. Many garage door dealers offer financing plans or work with lenders to provide affordable monthly payments. Homeowners should research these options to find a financing solution that fits their budget.
And keep in mind, the long-term savings provided by modern garage doors can help offset the upfront cost. Newer models are frequently designed with energy efficiency in mind, featuring better insulation and sealing technologies. This can lead to reduced heat transfer in both winter and summer, resulting in lower energy bills over time.
Curb Appeal Enhancement
When it comes to selling a home, first impressions are everything. Curb appeal plays a fundamental role in attracting potential buyers, with the garage door being a prominent exterior feature.
Today's garage doors offer a vast array of styles, colors, and materials to complement various architectural designs. From modern aluminum and glass doors to traditional steel models with classic panel designs, there's a garage door to enhance any home. You can choose a door that matches the exterior color scheme and style of the house, creating a cohesive look that boosts curb appeal. For example, a carriage house-style garage door can add a touch of sophistication to a traditional or rustic home, while a sleek, contemporary door can complement a modern house.
Visualizing the transformation a new garage door can provide can be challenging, but Clopay’s Garage Door Design Center is available to help. You simply upload a photo of your house (or select one of their stock images that closely resembles your house) and choose a door to view on your home. It’s a virtual way to “try on” different styles and colors to see what works best.
Increased Home Value
Garage door replacement tops the list of 23 home improvement projects featured in Remodeling magazine’s Cost vs. Value report. The 194% ROI means that for every dollar spent on a new garage door, homeowners can recoup nearly two dollars at resale.
But why does garage door replacement produce such an impressive return? For one, potential buyers place significant weight on a home's exterior appearance and functionality. An updated garage door signals to buyers that the home is well-maintained and upgraded, making it more attractive in a competitive market. For buyers seeking a home with both curb appeal and energy-efficient features, a new garage door can be a major selling point.
By investing in garage door replacement, homeowners can get a substantial return while making their property more appealing to potential buyers. Whether you’re planning to sell soon or just want to enhance your home's value long-term, this improvement delivers lasting benefits.
Ready to transform your home's exterior and increase its value? With various styles, colors, and materials available to complement any home design, garage door replacement is a cost-effective way to enhance curb appeal and recoup a substantial return on your investment when you sell the house. New doors also offer energy efficiency benefits that appeal to eco-conscious buyers. Request a quote today from a Clopay dealer near you to explore affordable garage door replacement options that will meet your needs.
Read the full Cost vs. Value report at https://www.remodeling.hw.net/cost-vs-value/2024/.
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