In a recent article from The Philadelphia Inquirer, homeowners looking to invest in home improvements – especially those who plan to renovate in an effort to make their home attractive to buyers – are warned against renovations that don’t return on investment. Amenities and high-price additions are warned against, as potential buyers may or may not “get it.” Improvements that get the OK include new paint, new floors and an updated garage or entry door.
According to the real estate agents interviewed, small, inexpensive changes that make a big impact – like updated garage doors – bring more reliable returns. In fact, according to Remodeling magazine’s Cost Vs. Values report, spending $1,500 on a garage door can yield a $1,168 ROI – nearly 80 percent.
Entry doors also made the “worth the money” cut, as the report showed spending $1,440 on a steel entry door could yield a 74 percent return.
In fact, garage door and entry door replacement top the list of home improvements that create a good ROI – netting the No. 1 and number 3 spots, respectively. These improvements come above roof repair (56 percent ROI), major kitchen remodel (64 percent) or a bathroom addition (48 percent) — all much higher-cost projects.
These numbers make for a powerful case for the value of homeowners replacing their garage door, especially those owners looking to sell in a volatile market.