Many people see a garage door as an afterthought, but the age and look of the door can play a big role in the first impression your home creates. Your garage generally accounts for 20–40 percent of your home, so it’s a feature that should not be overlooked when planning and designing. A garage is a selling point for any home, and the type of door you install can play a big role in the overall aesthetics and property value.
You don’t have to build a new garage to add value to your home. You also can boost your home’s value by making less expensive improvements to an existing garage. An article in “Remodeling” magazine reports that, by installing a new garage door that costs $1,496, homeowners can add $1,132 to the value of their homes, recapturing 75.7 percent of that project’s cost. A more upscale garage door replacement costing $2,720 will add $2,046 to a home’s value, a recapture rate of 75.2 percent. Garage-related projects compare well with the other major projects.
The magazine found that a major kitchen remodel costing $53,931 will add $37,139 to a home’s value, a recapture rate of 68.9 percent. The addition of a master suite costing $101,873 will add $63,390, a recapture rate of 63.2 percent, while a bathroom addition costing $37,501 will add $20,569 worth of value, a recapture rate of just 54.8 percent. I think we can see here where the best value for our dollar is here.
Garage doors are one of the most important faces your home has to offer to the world, so they will always raise its resale value. Damaged or peeling garage doors will lower the appeal of your home, thus making it less desirable. Great-looking garage doors will have a wonderful effect on the overall desirability of your home. No matter what you decide to do in the end, a renovation and replacement of such a door would be a of great value as a project.