(Courtyard Collection® Model 161T)
Garage door replacements have been ranked the most valuable home improvement project among other popular remodeling projects nationwide, according to the 2018 Cost vs. Value Report by Remodeling magazine Publisher Hanley Wood and the National Association of Realtors (NAR). According to the study, the return on investment of upscale garage door replacements was more than double the return of other popular remodeling projects, including a master suite addition and backyard patio.
On average, homeowners nationwide can obtain up to a 98 percent return on investment for their garage door replacements. In select markets, such as the Pacific region, the return on investment can increase up to 121 percent.
(Modern Aluminum Model 521)
“According to the survey, the top four projects that generate the biggest return on investment all focus on the exterior of the home — showing once again that curb appeal is one of the most influential factors when it comes to attracting potential buyers,” said Heather Meiner, Brand Manager for the Overhead Door™ brand.
Now in its 31st year, the 2018 Cost vs. Value Report compares the average cost of 21 popular remodeling projects in 149 markets with the value those projects retain at resale in 100 U.S. markets. Year after year, this report has shown garage door upgrades can be one of the most cost effective remodeling projects for homeowners interested in high ROI and lower costs.