Garage Door Replacements Offer Customers a Bigger Bang for Their Buck
For the first time, garage door projects exceed over 100% in return on investment (ROI) for homeowners. A 2023 study released by Door & Access Newsmagazine reported that the average $4,302 cost of a garage door replacement delivered an estimated resale value of $4,418 equating to an impressive 102.7% ROI.
For the first time, garage door projects exceed over 100% in return on investment (ROI) for homeowners. A 2023 study released by Door & Access Newsmagazine reported that the average $4,302 cost of a garage door replacement delivered an estimated resale value of $4,418 equating to an impressive 102.7% ROI. In this blog, we will be discussing how installing a new garage door can not only enhance your home’s curb appeal, but also how a new garage door could add value to your home.
Garage Doors Increase in Value Despite This Rocky Economy
The housing market has certainly had its fair share of ups and downs during these past couple of years and continues to fluctuate to this day. However, garage doors have triumphed out of this economic slump for the past 13 years. Since 2010, garage door replacements have consistently ranked in the top five projects for ROI. In addition, garage door installations have seen a significant increase from 93.3% ROI last year to 102.7% this year.
The average recouped cost of all 2023’s top projects was 65%. At nearly 103%, the garage door replacement projects dominated the ROI of the average remodeling project. Not only do garage door replacement projects excel in ROI versus the average remodeling projects, but garage door installations are inexpensive in comparison to other exterior projects. The average garage door replacement costs only $4,302 which is 77% less than the average cost of an exterior project ($18,789).
Increasing Your Home's Curb Appeal and Resale Value
Investing in a new garage door not only enhances your home’s exteriors and curb appeal, but by doing so, your new garage door could pay for itself and provide you additional revenue in return. According to Door & Access Newsmagazine, garage doors are one of the least expensive projects in the report and the second leading project for ROI. So, on top of the aesthetics and functionality that a new garage door would bring to your home, you are also making a strategic financial decision that combats the turbulence of the current economy.
Invest in Your Home's Future with Us!
In essence, installing a new garage door will benefit you financially in the long run, and South Dakota Overhead Doors is your go-to garage door installer here to help you increase your home’s value. Our inventory holds a diverse variety of residential and commercial garage doors coming from top-of-the-industry brands including Clopay, C.H.I., and Avante doors. Our doors are of the highest quality and are custom-made with an assortment of colors and window styles personalized to fit your home.
Call us today at (605) 355-1500 to receive your free quote, or visit our Rapid City showroom located at 3280 W Chicago Street!