Garage Door Replacements Ranked Among Top Home Improvements for ROI in National Survey
Garage door replacements have again been named one of the top returns on investment among all home improvements nationwide, according to the 2017 Cost vs. Value Report produced by Remodeling magazine publisher Hanley Wood and the National Association of Realtors (NAR). Both recent and long-term key trends indicate that “curb appeal” projects generate higher returns on investment than work completed in the interior of the home. Garage doors have ranked in the top five projects since they were first included in the survey seven years ago.
Now in its 30th year, the 2017 Cost vs. Value Report surveyed NAR members in 99 U.S. markets to compare the average cost for 29 popular remodeling projects with the value those projects retain at resale. Nationally, homeowners can expect up to an 85 percent return on investment for their garage door replacements on average. In select markets, that number can increase to up to 115 percent.
“With the housing market as competitive as it is, making a great first impression to buyers by updating an outdated garage door is one of the easiest and most cost effective ways to boost resale value,” says Heather Meiner, Brand Manager for Overhead Door, one of the most trusted manufacturers of garage doors and openers for residential applications.
About the Cost vs. Value Report
In partnership with the National Association of Realtors (NAR), Hanley Wood, publisher of Remodeling magazine, asks NAR members nationwide to evaluate a variety of home remodeling jobs and the ROI homeowners could expect to receive when selling their homes. The study, available at www.costvsvalue.com, details both the national average value returned for common renovation projects, as well as the expected ROI in nine U.S. regions and 99 U.S. cities.