Here’s something you may not have known: The best way to add value to your home for less than $5,000 is a new garage door. That’s right, a new comprehensive study revealed replacing upgrading a garage door provides the best return on investment among mid-range home improvements.
Noting a garage door can be the “true front door” of many homes, RISMedia parsed the numbers from Remodeling Magazine’s annual 2014 Cost vs. Value Report. It looked at 35 common remodeling projects and measured it against the value it’s expected to add. Replacing the garage door earned special status.
“The most noticeable architectural element of today’s home is the garage door,” said Gale Steves, editor-in-chief of Home Magazine.
The report notes front-facing garage doors have increased in prominence, especially in Southern California and throughout the Pacific region. They are now commonly used as entryways rather than the front door, and because of how they stand out, they have even more impact on curb appeal than the front door. That’s very much different than previous decades, when the front door was considered the key to curb appeal.
Replacing a garage door can have an especially big impact for homes in Los Angeles and other California cities. In fact, in many Western markets a new garage door can actually bring a return on investment of more than 100%. For an upscale garage door replacement you’re looking at an average cost of $2,791, but the value that’s added can more than make up for it.
Home Magazine said that for front-facing garages, a carriage-style door that will complement the home’s overall personality is recommended. Today you can select from many new styles and designs to find a garage door that will match your home’s unique character.
Replacing a garage door with stylish-new look is a relatively cheap and easy project, but best of all it can also have a big impact on your home’s curb appeal and its total value.