Overhead Door of Permian Basin Blog!

According to Remodeling magazines's 2015 Cost vs. Value survey, replacing a garage door is not only one of the most affordable home improvement projects, but also can nearly pay for itself. The survey makes an annual comparison of popular home renovation projects, and breaks down the results for consumers and homeowners.

According to the survey, the average cost to a replace a mid-range door with an upscale door to be $2,944, and found a $2,429 value of the project at home sale, which equates to an 82.5% return. This makes garage door replacement the second-best remodeling project in terms of return on investment (ROI) in the upscale home improvement category. In the mid-range home improvement category, the results were also positive; the survey revealed a garage door replacement delivers an average 88.4% ROI for homeowners, the third most affordable home improvement project in the category.

Looking for your home’s perfect garage door match? Try our DoorView™ Design Center, a visualization tool that allows you to mix and match garage doors on a photo of your own home that you upload into the tool. The Design Center is easy to use and is optimized for use with tablets and offers hundreds of door, style and color choices to find the perfect door.

The Cost vs. Value report is conducted in partnership with the National Association of Realtors. Hanley Wood, publisher of Remodeling magazine, asks NAR members nationwide to evaluate a variety of home remodeling jobs and then project the ROI homeowners could expect to receive when they sell their homes. The study, available at 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 102 U.S. cities.

Are you planning a major home improvement? Will you replace or upgrade your garage door this next year?

If you read Part One of our "How To Increase Your Home's ROI" then you're expecting to find out what the "surprising ROI generator" is...

According to the 2014 Cost VS. Value Survey, "The approximate $2,800 cost for an upscale garage door replacement delivered an estimated value at sale of $2,315, equating to an 82.9 percent return on investment.The typical $1,534 cost for a mid-range garage door replacement had an estimated value at sale of $1,283, or 83.7 percent of the original cost. Of all projects that cost less than $5,000, a garage door replacement ranks #2 and #3 on the list of projects that deliver the most value at resale. Ranking #1 is a mid-range (steel) entry door replacement."

We told you it might surprise you!

For many houses, a garage door is the largest exterior feature and one of the first things you see if you're in a street facing home. So not only does a garage door fit under the popular "maintenance improvement" category (see Part One), but it is also considered a "facelift" for your home (and a typically inexpensive one, at that)!

So if you're considering a remodel, but are wondering how to increase your home's ROI, don't forget about your garage door. Replacing it could really pay off (literally)! If you would like to meet with someone to discuss your options, or need help determining which door/style will generate the most ROI, schedule a free design consultation with us! Or, in the meantime, you can virtually transform the look of you home using our visualization tool.

If you are even considering doing home improvements, taking ROI into account beforehand is a wise decision. What will you make your money back on? Will spending this much over improve my home? How should I prioritize my remodel? These questions and more will be answered as we discuss how to increase your home's ROI.

According to Remodeling Magazine (http://www.remodeling.hw.net/) you're less likely to recoup your investment in a major kitchen or bathroom remodel than you are to get back what you spend on basic home maintenance such as new siding. Surprising, isn't it? This is because home buyers are afraid of maintenance costs. They don't want to move in and have to replace a roof or repair the siding. So, believe it or not, you may make more money back on simpler improvements.

Location, Location, Location

It seems cliché, but it's true! The improvements you make to your home, and the corresponding ROI, are often dependent on your location. For example, you would not want to put a $3,000 kitchen sink in a $150,000 home. It doesn't make sense, you wouldn't see a return. Additionally, in most areas, kitchen and bathroom remodels see over 100% return, due to a couple of factors:

1. These are the most expensive areas of a home in terms of construction.

2. These are the areas where people generally spend the most time.

What Should You Choose?

So, when remodeling, what should you choose? This is largely dependent upon when you see yourself moving. If you think you'll be there awhile, choose to remodel with things you love (within reason, of course), or colors that go with your current decor. However, if you plan on moving soon, choose neutral colors and traditional looks that would typically satisfy the majority of people.

There's another home improvement feature that easily generates ROI that may also surprise you... ...but you have to take a look at Part 2 to see what it is!