What’s The Return On Investment For A Garage Door Replacement?

There are plenty of good reasons to switch out an old garage door. For example, a new door will be more visually appealing, more secure against break-ins, and safer for your kids. But did you know that a garage door replacement also delivers an exceptional return on investment?

According to the Cost vs. Value Report from Remodeling magazine, replacing your garage door is one of the most reliable investments homeowners can make. This authoritative annual report looks at 22 of the most common home improvement projects and determines their value in light of their price and the amount they add to a home’s resale price. In other words, they calculate the return on investment (ROI).

Since 2010, when the report began including garage door replacement in the study, this home improvement has consistently ranked among the top five in terms of ROI. In 2018 and 2019, it ranked first, and in 2020, second, one percentage point behind manufactured stone veneers. The overall average recouped cost in 2020 was 94.5%.

Moreover, the study found that in many markets (46), a garage door recoups more than 100% of its cost, and in a handful of markets the ROI exceeded 150% and even 200%. Although the study looks at American markets, one can infer there to be similar trends in Canadian cities.

This raises the question of what exactly makes a new garage door such a reliable investment. And what’s the secret of those savvy homeowners who turn a profit on their garage door replacement? Here’s what you should know.


Why do garage doors provide such a high ROI?

One of the most crucial factors in a home’s market value is its curb appeal, which indicates how visually appealing it is when viewed from the street. Garage doors, which take up a good portion of a residential property’s visual real estate, are key influencers of curb appeal. In particular, it’s important that a garage door is in good condition and complements your home. A shabby or unattractive door can mar the overall appearance of your property and decrease its value.

However, this isn’t the only reason that potential buyers appreciate a new garage door. Most people don’t want to have to replace the garage door soon after purchasing their new home. If your garage door is nearing the end of its lifespan or is in poor shape, you can be sure that buyers will take this into account. Similarly, they won’t fail to notice when a garage door is new and will give them at least a couple decades of use.


How can you maximize your ROI?

As mentioned, it’s very important that your garage door is visually appealing and suits the style of your home. These days, you have a vast array of options to choose from when buying a garage door, including various materials, panel designs, colours, and customization options for windows and decorative hardware.

For example, a home with traditional architecture may be enhanced by a classic wood garage door or a carriage house door with a vintage flair. Conversely, a modern-style home may be better suited to a sleek premium steel or designer fibreglass garage door.

As for the choice of colour, a good rule of thumb is to match the garage door to the trim, the front door, or other home features.

Functionality is another key factor. Choose a garage door that’s right for your region. For example, if you live on the coast where there’s high humidity, be sure to get a door that’s impervious to rust and rot. Alternatively, if you live in a colder area, you’ll want a door that can handle freezing temperatures and provide ample insulation. If your garage door is mismatched to the region or to the needs of the homeowner, it likely won’t be a selling point.


Garage door replacement in Western Canada

If you’re unsure about which garage door is ideal for your home and will maximize your ROI, turn to a qualified garage door professional for advice. The team at Creative Door can walk you through the steps of choosing a garage door. Once you’ve found your perfect match, we’ll provide you with quality installation services and will be at your disposal for any maintenance and repairs you may need down the road.

Make sure to browse our site to explore our wide variety of residential garage doors and to take advantage of the Wayne Dalton Design Centre, a tool that allows you to see how various styles of garage doors will look on your home.

To get more information about our comprehensive garage door services in British Colombia, Alberta, and Saskatchewan, get in touch with us today.

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