2020 Cost vs. Value Report cites a return on investment up to 94.5% for garage door replacements
Garage door replacements rank at No. 2 for the highest return on investment (ROI) for household renovations according to the 2020 Cost vs. Value Report by Remodeling magazine and the National Association of Realtors (NAR). This year’s study concludes that U.S. homeowners who chose to replace their garage door saw an average of 94.5% ROI at resale. In select markets, that figure went as high as 132.7%. Since 2010, garage door replacements have consistently ranked among the top five household renovation investments in the Cost vs. Value Report.
“The Cost vs. Value Report illustrates how important the exterior of the house is when attracting home buyers. Replacing your garage door can mean the difference between a good or bad first impression, that’s why choosing a stylish and well-crafted door is essential,” said Christian Morrow, brand manager for Overhead DoorTM Brand. “A new, custom-colored garage door can give your home a unique curb appeal that attracts potential buyers.”
Construction cost estimates for the report were generated by RemodelMAX, a publisher of estimating tools for remodelers. Each year, the company prepares a detailed construction estimate for 22 types of remodeling projects and then adjusts its baseline cost to account for pricing variations of resale value in the 101 U.S. markets. Nine of the top 10 high-return projects involved exterior projects, with the interior project dealing with minor kitchen remodels.
To see an Overhead DoorTM garage door on your home, visit overheaddoor.com. Homeowners can also use the free DoorView® App that uses an image of their home and gives them the power of design at their fingertips. Allowing personalized customization and enhancement options, users can select from a wide variety of styles, windows, door colors, overlay colors, trim colors, handles and accessories. They then have the options to share the unique design with friends and family via email, as well as send it to a local, trusted Overhead Door Red RibbonTM Distributor.
The Overhead DoorTM Brand is a sponsor of the Cost vs. Value ROI survey.
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About the Overhead Door™ brand
A brand of Overhead Door Corporation, The Overhead Door™ brand is one of the most trusted for garage doors and garage door openers in North America. Through its dedicated network of more than 400 Overhead Door™ Distributors – which operate across the country under “Overhead Door Company” trade names – that provide superior service and expertise to consumers, the brand is easily recognized by its iconic Red Ribbon logo and “The Genuine. The Original.” slogan. For additional information, visit overheaddoor.com.
©2020 Overhead Door Corporation. Overhead Door™ is a trademark and the Ribbon Logo is a registered trademark of Overhead Door Corporation.
About the Cost vs. Value Report
In partnership with the National Association of Realtors (NAR), Hanley Wood, publisher of Remodeling magazine, asks NAR members nationwide to evaluate a variety of home remodeling jobs and the ROI homeowners could expect to receive when selling their homes. The study, available at http://www.costvsvalue.com, details both the national average value returned for common renovation projects, as well as the expected ROI in nine U.S. regions and 101 U.S. markets. “© 2020 Hanley Wood, LLC. Complete data from the Remodeling 2019 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.”