Reasons a New Garage Door Is the #1 Project for ROI
If you plan on selling your home, upgrades could fetch you a good resale value in the property market. However, the house is only worth the upgrades if you can recover the cost of the upgrades plus a handsome profit. The profit or loss you make on upgrades after you have sold the property is your return on investment, or ROI.
For homeowners who want to sell, careful considerations are necessary when you are looking for upgrades that will increase the resale value of your house and still make a good ROI.
Here are a few reasons why a new garage door is a perfect way to upgrade your house.
A New Garage Door Is a Low-Cost Upgrade
The best projects for ROI are those that are inexpensive and yet make the biggest impact on the resale value of your property. A new garage door is a relatively cheap upgrade for any property. The cost versus value for a new garage door stands at over 90% higher.
Upgrades such as remodeling the bathroom or kitchen are more costly, which makes the ROI on such upgrades relatively lower compared to replacing the garage door.
Multiple surveys and statistics present garage doors as the number one remodeling project since a new garage door on a property has a high ROI. You can make thousands of dollars with an inexpensive and simple garage door replacement.
A Garage Door Replacement Increases Curb Appeal
The curb appeal of any house depends on how beautiful the exterior of the property is. If a house is attractive from the outside, the property is bound to fetch a good price in the real estate market. The best way to increase the curb appeal of any property is by investing in exterior home projects.
A simple garage door replacement can transform the appearance of your home and increase the home’s curb appeal. Increased curb appeal translates to higher home value.
A New Garage Door Might Get You Lower Insurance Premiums
Security is of great consideration by home insurance companies when setting a price for your monthly premiums. A home with an old, shaky, and loosely fitting garage door has increased risks of break-ins and theft. Insurance companies will therefore charge you more in insurance premiums if your garage door isn’t doing much in keeping your property safe.
However, if you can replace the garage door and call in your insurer, you might get a better deal and lowered rates. You have a better shot at getting a good ROI on your home if buyers know the house is safe and that the insurance premium rates are lower.
A Garage Door Replacement Has the Highest Average ROI
A new garage door replacement on your home will get you around 93% of the money you use in the upgrade regardless of your location.
If you are a homeowner about to sell your house or you are a flipper who is looking forward to making a profit on a property you bought, a new garage door can help boost the value of your property and allow you to make some profit.
At Plano Overhead Garage Door, we have over 45 years of experience in garage door repairs and replacements. We pride ourselves on accountability, professionalism, and top-notch customer service. Contact us today for more information.
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