Remodeling Magazine: 2023 Cost vs. Value Report
Revitalizing your living spaces while ensuring a solid return on investment is the ultimate goal for homeowners planning their remodeling projects or planning to sell their home. The housing market remains fiercely competitive prompting homeowners to seek innovative ways to make their properties stand out and entice potential buyers. Enter Remodeling Magazine’s 2023 Cost vs. Value Report. The comprehensive study assessing the return on investment for 23 remodeling projects around the home. The study reports that replacing your garage door yields impressive returns and is one of the top return on investment (ROI) projects you can embark on when remodeling your home.
Kitchen revamps, it’s time to step down. The limelight is on exterior makeovers!
Let’s face it—home improvement projects can be financially demanding. That’s why it’s imperative to carefully weigh the potential return on investment before moving forward with renovation. The 2023 report demonstrates that homeowners can expect to recoup a staggering 102.7% of their garage door replacement costs. In simpler terms, for every dollar spent on a new garage door from Overhead DoorTM Brand, the house value typically increases by more than the amount invested. In comparison, kitchen remodels cost on average six times more than garage door replacements and only recoup 85% of their investment. The exceptional return on investment of replacing a garage door positions it as one of the most effective means to boost your home’s curb appeal and bolster its financial status.
The Cost vs. Value report continues to indicate that exterior overhauls outperform interior renovations when it comes to property sales. Garage door replacements specifically have ranked in the top five best home improvement projects for 13 consecutive years. However, this year in particular is especially remarkable as it was the first time a garage door replacement has had an ROI of more than 100%.
“The impact a home’s curb appeal has on resale value cannot be underestimated.,” Overhead Door™ Brand Marketing Manager Brandon Bolin said. “In an incredibly competitive housing market, it’s crucial to find innovative ways to distinguish your properties, attract potential buyers and maximize your investment’s value. The ROI supports the premise that investing in a high-quality garage door is not merely an expense but an investment in the home’s overall worth.”
Curb Appeal: The Gateway to Impressive Resale Value
The old adage says you never get a second chance to make a first impression. The same is true for when prospective buyers arrive to tour a home or attend an open house. With garage doors making up the majority of your first impression of a home, the garage door plays a pivotal role in shaping that initial perception. A weathered or shabby garage door can cast an unfavorable light on a home’s exterior and is a big turn-off for home buyers before even stepping foot in the home or clicking on the listing online.
Undeniably, installing a new garage door can profoundly transform your home’s facade, instantly boosting its curb appeal. Modern aesthetics combined with top-tier materials can leave an indelible impression, igniting the curiosity of prospective buyers to discover what’s inside the home. This initial positive impression encourages them to commence their tour of the property with a favorable predisposition.
Thermacore® Model 5740 | Carbon Oak Artisan Wood Grain™ Finish
New Looks: Garage doors taking on a new modern approach
The advantages of replacing your garage door with high-quality products from Overhead Door™ Brand have taken a new turn in 2023 as more modern-looking doors are trending in the industry.
With the launch of the new Artisan Wood Grain™ finishes for our Thermacore® Collection garage doors, your home can take on a sleek aesthetic that might have never been seen by neighbors or perspective buyers before. These new garage door styles take the durability of steel and combine that with the beauty of a wood grain look, making your home the talk of the neighborhood. These hot new garage door styles complement any home and create that return on investment that every home remodeler is looking for.
Amplifying Rewards: The Comprehensive Benefits of Garage Door Replacements
The findings of the Remodeling Magazine 2023 Cost vs. Value Report strongly emphasize the exceptional benefits of replacing a garage door, offering homeowners a wide range of rewards that extend well beyond the substantial return on investment. By choosing Overhead DoorTM Brand for your garage door replacement project, you will not only be making a financially astute decision but also significantly amplifying the charm and functionality of your home.
© 2023 Zonda Media, a Delaware Corporation. Complete data from the Remodeling 2023 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.
