Most homeowners buy a house as an investment, so they have a vested interest in increasing property values. One thing many people wonder is: Does a new garage door add value to a home?
Today, Garage Door Medics is here to talk about how garage doors increase your home resale value. Hopefully, this article can provide guidance on whether installing a new garage door is worth it. We will talk about how a new garage door adds to your home value and factors that affect the cost of installing new garage doors.
Contact us to learn more about the garage door service experts in Riverside from Garage Door Medics.
Do New Garage Doors Increase Home Value?
The short answer is: Yes. A new garage door can significantly add to your home’s resale value. In fact, adding a new garage door is one of the best home improvements you can do and has one of the highest ROI compared to other remodeling projects. If you are looking for a simple remodeling project to boost property values, a new garage door is a great choice.
How Much Can New Garage Doors Increase Home Resale Value?
According to national data from Remodeling, the national average ROI for a new garage door installation is an astoundingly high 97.5%. That means that for every $1 you spend on adding a new garage door, you recoup nearly $1 in terms of increased property resale values.
For example, if you spend $4,000 on updating your garage doors, you can expect to increase your home resale value by approximately $3,900. Below is a short table showing the ROI of common remodeling projects compared to new garage door installations.
|Remodel Project||National Avg. ROI|
|Garage Door Replacement||97.5%|
|Minor Kitchen Remodel||80.5%|
|Entry Door Replacement||75%|
|Master Bedroom Remodel||50.4%|
As you can see, garage door replacement has a significantly higher ROI compared to other kinds of home installation and remodeling projects. One major reason that explains this high ROI is that they are very affordable, considering the scope of the project.
Keep in mind that these figures are national averages. Your exact ROI will depend on other factors, such as your home’s age, design, location, and materials. ROI will also depend on the state of the housing market.
How Does a New Garage Door Increase Home Resale Value?
New garage doors can increase your home’s resale value thanks to their characteristics and the benefits they bring. Below are some primary ways that new garage door fixtures improve property values.
The single biggest way that installing new garage doors can increase home resale value is through energy savings. Your old garage doors might consist of inefficient metals that are not good insulators. New garage doors made with modern materials feature energy-efficient designs that insulate your home and prevent heat leakage.
Specifically, garage door insulation has an R-value—a measure of how thermally efficient the material is. Materials with high R-value are better insulators and can provide increased energy savings.
In addition to minimizing thermal loss through door materials, insulation also reduces heat loss from opening the door. Proper insulation in your garage keeps heat retained when operating your door.
One major reason new garage doors increase your home’s resale value is that they significantly improve its curb appeal. Custom garage doors with paneling that matches the style of your house can positively add to your aesthetic.
The good thing about newer garage doors is that you have several attractive materials to choose from, including:
- Composite Materials
- And more
Each kind of material has a unique appearance and characteristics. For example, wooden garage doors typically pair well with traditional and farmhouse-style homes, while steel and fiberglass work well with more modern contemporary architectural styles.
You also have a wide range of colors and styling to choose from. Things like trim, etched designs, stonework, and light fixtures add to the quality of your garage doors. The best garage doors are not only functional but also add to the general aesthetic of your house.
Security & Safety
Homeowners value their security, and a new garage door can significantly enhance privacy and safety. Modern garage doors incorporate safety technologies such as photosensors to stop the door from closing on objects in its path and failsafe mechanisms on the track.
Modern garage doors also have enhanced security features, such as keycode pads for unlocking and remote garage door openers. With these enhanced security features, you can control exactly who operates your garage door and when.
Fewer Maintenance Costs
The older your garage door is, the more you’ll have to repair it. The typical garage door repair cost is around $300, but some issues can cost significantly more. A new door has less wear and tear, so it can last longer without needing repairs.
New Garage Door Installation Costs
Does a new garage door add value to a home after initial costs? One of the first things that homeowners think of when considering remodeling projects is: How much will it cost me?
The cost of replacing your garage door depends on several factors, including:
- Size. The total size of the project will determine overall costs. For example, replacing two doors will cost more than replacing one door. The typical cost for garage door materials is about $40 per square foot.
- Material. Material choice makes up the next considerable part of the cost. Wood, aluminum, and steel cost the least, while composites tend to cost more. Additions such as trims and patterns will also incur a higher cost.
- Insulation. It is typically a good idea to get insulation in your doors to further cut energy costs and maintain temperatures in your home. Homeowners have several options for insulation materials, including fiberglass, cellulose, spray foam, rigid foam, and door insulation panels.
- Additional Features. Other features for garage doors include motion sensors, remote openers, and keypad locks. The cost of these features depends heavily on your door style and the manufacturers you choose.
How Do I Know If I Need a New Garage Door?
Depending on use and maintenance, the typical garage door can last anywhere between 15 to 30 years. If your garage door is starting to get up there in the years, you might want to consider replacing it.
Other reasons to consider installing newer garage doors include:
- Loud grinding or scraping noises
- Aging design and obsolete components
- Repeated breakdowns and frequent repairs
- Door panels have cracks and scratches
- The door poorly insulates your garage and home
- Broken hinges, wires, frames, or chains
As a general rule, if fixing your existing garage door costs 50% more than the price of installing a new set of doors, you should opt for a replacement instead of repairs. Make sure you call a certified expert who can help you assess door material and style options for installation.
Contact a Garage Door Professional Today!
Garage Door Medics offers a wide range of garage door options, including fiberglass garage door installation and garage door repairs. Whether you have an attached garage or want to convert an exterior building into a new garage, we have the doors to make it look like it belongs in a remodeling magazine.
So, does a new garage door add value to a home? If you would like to learn more about our new garage door installation services, contact us online, or give us a call today at (888) 997-2423 to schedule an appointment! We look forward to hearing from you!