Blog Archive: August 25, 2011
Did you ever think that a new garage door could almost pay for itself?
Garage door replacement ranked No. 2 in “cost recouped” on a list of 35 common home remodeling projects in Remodeling Magazine’s 24th annual Cost vs. Value Report.
The average midrange garage door replacement cost was estimated at $1,291. Resale value of the project averaged $1,083 – an 83.9 percent return on investment (ROI) at resale. In some cities, such as Charleston, W. Va., Honolulu, Providence, R.I., and San Francisco, the ROI for a new garage door was more than 100 percent.
Upscale garage door replacements were estimated to provide a 69.8 percent ROI – No. 4 among the upscale projects listed in the survey.
What does that mean to homeowners? You can have your cake and eat it, too. A new garage door can add to the beauty of your home as you live in it and enjoy it today, while also providing a high level of payback – nearly 84 cents of every dollar spent on the garage door replacement – when it’s time to sell.
What’s more, garage door replacement was one of the least expensive projects listed in the survey. That means a new garage door may be [more]