According to the “2013 Cost Vs. Value Report” conducted by Remodeling magazine, adding a new garage door to your home was found to have the second highest return on investment among 22 popular “midrange” remodeling projects. The report compared the average cost of the projects across 81 cities with the actual value that those projects retained at resale.
With an average price of $1,496, a Garage Door replacement was found to have a resale value of $1,132, recouping 75.7% of its cost. Only Wood Deck Additions fared better, recouping 77.3% of the value on a project whose average cost was reportedly $9,327.
This comes as no surprise to us at Banko Overhead Doors. We’ve long known how a new garage door can enhance a home or stand-alone garage’s curb appeal, while increasing the safety and functionality. Dollar for dollar, this is one of the best types of investment to consider when attempting to improve the value of your home and garage.