According to a recent survey by Echo Research, 72% of American homeowners have at least one major home improvement project on their to-do-list. On average, these projects will cost about $4,000.
Of this group, more than 30 million homeowners plan to sell their homes in the coming year. So, the strategy behind home improvements is to enhance the resale value of their homes. What’s interesting, however, is that the projects that get the most attention (and cost the most money) do not necessarily return the greatest resale value.
The web-site Remodeling.HW, recently released an extensive study on the cost/value relationship of major home improvement projects. Here’s something you may not have considered: for a mid-range price home, adding a new garage door is one of the top improvements you can make. That’s right…you’ll recoup 83.7% of the cost of the new garage door during resale.
Really, when you consider the importance of “curb appeal” to the resale value of your home, it’s not surprising that a new garage door pays back most of your investment. After all, a new garage door makes an immediate, visual impact to people who may be house-hunting.