Studies Show Garage Door Replacement Has a 75.7% ROI

By: Damian Douglas Garage Door
LAS VEGAS - April 17, 2013 - PRLog -- Garage door replacement can be a great home investment. According to Remodeling magazine, homeowners who replace a garage door have on average, a 75.7% return on investment (ROI). That's a better ROI than a bathroom or kitchen remodel, or even vinyl siding, in terms of national averages.

An industry survey confirms that a garage door upgrade remains one of the most valuable home improvement projects that a homeowner could have done before listing their property for sale.

Remodeling magazine’s 2012-2013 Cost vs. Value survey found that garage door replacement is money well spent prior to a home sale. Mid-level and high-end garage door upgrades are among the top 10 home improvement projects for best return on investment (ROI).

You can expect to recover a greater percentage of money from your new garage door than from almost any other home improvement project.

With a 75.7% average return, mid-range garage door replacement is ranked second as the best project for returning value when spending less than $5,000; second only to a steel entry door replacement. It’s also the fourth-highest rated project, overall, out of more than 35 projects evaluated.

If the excellent ROI on a garage door replacement isn’t enough, midrange garage door replacements are also among the cheapest improvements that can be made to a home. Remodeling Magazine reports that replacing a mid-range garage door only costs an average of

$1496 and a high-end garage door on average is $2720. While deck additions, window replacements, siding replacements, and roofing replacements all cost well over $10,000 on average and have much lower ROI values.

While many people may not think of the garage door when they are planning on putting their house up for sale, realtors say it may be worth considering a replacement.

"It's the single largest moving part on a home and if it faces the street, it plays a large part in the overall appearance," says Marty Dewald, a real estate veteran with a 17-year track record as a top agent for ReMax Unlimited. "Curb appeal is a critical factor in selling a home. If a prospective buyer doesn't like the view from the street, chances are he won't waste time going inside."
Source:Damian Douglas Garage Door
Tags:Garage Door Replacement, Roi, Investment, Home Improvement
Industry:Home, Real Estate
Location:Las Vegas - Nevada - United States
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