From the perspective of resale value, garage door installation tops the list. In fact, Consumer Affairs says garage doors rank as one of the best home improvements yielding the biggest ROI. Even if you’re not looking to sell your home right now, there are many reasons to consider tackling this important home improvement project.
Increasing the value of your home means you consequently lower the amount of money you owe on your mortgage in relation to overall equity. If this is the difference between having 20 percent equity or not, it could do away with the need for you to pay private mortgage insurance. That’s a huge money saver right there!
Also topping the list of high ROI projects are kitchen makeovers, new siding, deck additions, window replacements, roof replacements and basement remodels. Not all improvements offer as good of a chance to recoup your investment. The addition of a bathroom, for example, only gets you an ROI of 57 percent.
By contrast, adding a new garage door can give you a payback of about 85 percent. In addition to the functionality of a new door, the increased curb appeal can’t be ignored. In fact, this is probably one of the major factors leading to such a high payback: a garage door is highly visible, offering an unmistakable aesthetic appeal to anyone driving by.
But take those numbers with a grain of salt. Yes, a new garage door can help you increase your property value. However, not just any door will do. You have to be smart about which one you choose for installation. A basic door with no electric opener won’t recoup your money nearly as much as a high-quality wood, vinyl or fiberglass door with all the bells and whistles. Make the investment now and it will pay off later.
The professionals at M&M Garage Doors would be happy to help you make your decision. Let us come by for a free consultation!
Contact M&M Garage Doors
Is it time for you to replace your garage door as part of your next home investment? Contact us today to make an appointment for a showroom visit at 586-610-5434 or fill out our online form for a price quote on Pella garage doors in Michigan. We have all the best styles at the price points you’ll love.