A garage door replacement is thought to be one of the most valuable investments homeowners can make. In fact, Remodeling Magazine ranked an upscale garage door replacement to be the remodeling project with the highest return on investment (ROI) in its 2018 Cost vs. Value Report. This study investigated the costs for 21 common home renovations and the value they retained when the homes were resold.
It was found that the average cost to replace an upscale garage door was $3,470 and the project delivered an average return of $3,411 when resold, which equates to an ROI of 98.3 percent. In other words, this replacement pays for itself.
How New Garage Doors Increase Home Value
A garage door replacement has an exceptionally high ROI because the benefits it provides — including increased curb appeal, lower energy bills, and increased safety — are all things that potential buyers look for. Read below to learn about the many ways this remodeling project can boost resale value.
Increases Curb Appeal
If you’re preparing to sell your home or looking to tackle a new remodeling project, why not start by improving your home’s street view? Garage doors play a significant role in influencing your home’s curb appeal, and the curb appeal is what lures potential buyers inside.
When shopping for a new garage door, you can choose a color that complements the scheme of your home or a bold shade that makes a statement. You can also select a door with a distinctive panel style that suits your home’s aesthetic.
Choosing a custom garage door only enhances the benefits. The style is perfectly suited to your home’s design. A custom garage door also makes your property stand out as one of a kind in a saturated housing market.
Boosts Energy Efficiency
A new garage door with insulation can increase the value of your home by 4 percent. What’s more, the insulation leads to energy savings, as it will keep hot air out during the hotter months and cold air out during the colder months. If your garage is heated, an insulated garage door is especially worth considering.
As your garage door gets older, the energy costs associated with the door increase, which, in turn, lead to higher energy bills. Regardless of whether you own an attached or detached garage, you should find out the insulating power of your garage door. A new door with good insulation will allow you to lower the costs of energy consumption in your house.
New garage doors come with advanced safety features, including:
Motion Detectors: You can keep trespassers away with motion detectors, which will light up when someone or something approaches the garage door in the dark. It also makes it safer for you when returning home at night
Smartphone Operation: LiftMaster now offers a feature that allows you to operate your garage door from anywhere using your phone.
Photo Eyes: This safety feature keeps the door from closing if something is in the way.
Garage Door Openers: Garage door openers consist of a trolley and a motor. The motor moves the trolley, which is attached to the garage door. When the motor activates the trolley, the garage door moves down or up. Openers can run on belts, chains or threaded parts. This feature, along with photo eyes, is now standard.
Automatic Timers: For those of us who forget to close our garage doors every now and then, automatic timers are a useful feature. Some modern garage doors allow users to set a timer that will automatically close the door after a certain period of time. Visit Liftmaster’s site to see which openers come with this feature.
If you have an older garage door, getting a new replacement can ensure your safety and provide your home with better security. When shopping for a new garage door, focus on getting one with the latest security features to maximize your safety
Reduces Your Maintenance Costs
While an old garage door may require near-constant maintenance, a newer one requires significantly less or even none at all. By purchasing a new garage door, you’ll gain the money and time back that you would have spent repairing and maintaining your old one.
Give us a call at Midlothian Garage Doors today, and let us get you started on your new custom garage door replacement!