Home remodeling is expensive, but some projects “pay off” better than others do in terms of increasing the value of a home relative to the cost of the job. According to a new study, moving from a cheap to a mid-line garage door can be the best bang-for-buck project a homeowner can do.
Garage door maker Overhead Door Corporation cites this study, claiming that a Cost vs. Value survey evaluated the average $3,140 cost to replace a mid-range door with an upscale door and found a $2,830 value of the project at home sale, which equates to a 90.1 percent return.
Now, our reaction to this is, “sure, a garage door company would say that upgrading a garage door is a great idea. Of course they’d say that,” But the company is using data from Remodeling magazine, which reports on a range of project types.
In fact, Remodeling magazine offers a handy calculator feature that lets you play around with the cost/benefit numbers on a bunch of different home remodeling options. You can find it at http://www.remodeling.hw.net/cost-vs-value/2016/.
Overhead Door may be touting its own line of business, but their assertions do make sense. A nice garage door can really dress up a home.
This is especially true in modern suburbia, where the garage door is quite visible from the street, and acts as the main point of entrance for many families.
So, give that calculator a try, and see how your dream remodeling projects stack up.