A high-end garage door can make sense as a project for several reasons. For one, high quality garage doors tend to be far more durable than cheaper ones (and especially older ones) and also offer better insulation. This can provide the interior of your garage with increased protection from the elements and from break-ins. In short, high-end garage doors are a very functional upgrade.
They can also increase the attractiveness of your home as high quality garage doors can be very attractive. This is especially true when replacing an old garage door or another that is otherwise a thorn in the side.
In short, high-end garage doors can be visually appealing and add function to your home. And as you will see, they can add significant value to the property.
What do high-end garage doors cost?
According to Remodeling magazine, the average cost to replace a 16 by 7 foot garage door and its rails is $ 3,695, including installation and all hardware required. And that implies a high-end unit – for reference, Home Advisor (NASDAQ: ANGI) says the average cost of an installed garage door replacement is $ 1,117.
Are high-end garage doors worth the investment?
The short answer is, high-end garage doors can definitely be worth the investment. According to Remodeling’s 2020 Cost-Value Report, an upscale garage door replacement can be one of the best ways to add value to a property. According to the report, the average cost of replacing garage doors on a property will add an average of $ 3,491, which translates into an average return on investment (ROI) of 94.5%.
However, there are some limitations and other things to be aware of:
- This is based on national averages and the ROI on your garage door upgrade can be higher or lower. In some regions of the US, the average ROI for a high-end garage door replacement is actually over 100%, while in other regions it can be well below the national average.
- There are some important assumptions made in making this estimate, most notably that you will be reusing the currently installed garage door opener and only replacing the door and rails. Having to buy and install a new garage door opener can significantly reduce your ROI.
- While Remodeling’s report doesn’t specifically state this, from a value standpoint, this project only makes sense if your current garage door is old or unattractive. Think of it this way: when you replace a new and attractive garage door with something nicer, does it really make a big difference in terms of the market value of the house?
The bottom line of Millionacres
High-end garage door replacements can certainly add value to a property, and for investors, they can make properties more attractive to potential tenants or buyers. However, it is important to consider your specific situation, not just the national averages, when deciding whether it is right for you.
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