Custom Garage Doors and Other Home Renovations that Add Value to Your Home

Considering that your home is likely your biggest asset, you want any renovations that you do, for example upgrading to custom garage doors, to add value.

There are three main ways that a home renovation can help your investment grow:

1.  Increase your comfort and happiness while living in your investment. Home improvement projects like this involve exciting activities such as creating a new layout or adding a room, changing paint colors and fixtures or remodeling an old design. The top priority is to satisfy your specific needs, but that need not stop your upgrade from also increasing your home’s value over time.

2.  Up the value of your home so that you have more equity when refinancing your mortgage. This is especially pertinent now that mortgage rates are at historic lows. 

3.  Boost the desirability – and resale value - of your home to buyers when you decide to sell. While you cannot change elements such as the age or location of your home, you can make improvements to your home’s exterior. Attracting potential buyers from the outside will inevitably bring them inside.

Value Adding Home Renovations

When it comes to ROI (return on investment), not all home renovation projects are created equal. You want to give funky light fittings, trendy wallpaper, and colorful custom tiling a wide berth, as these often lower the resale value. Rather, opt for upgrades that will contribute to a higher selling price. Based on 2020 data from Remodeling Magazine, home renovations that offer the best return on investment include:

Garage Door Replacement

Average cost

$3,626 to remove and dispose of an old 16x7 foot garage door and upgrade it to a new four-section garage door with heavy-duty galvanized steel tracks.

Average resale value

$3,484

Cost recouped

96.1%

An attractive new garage door is a real curb-appeal enhancer.

Do not be tempted to buy a wood garage door unless you are committed to its upkeep.

Use an experienced supplier who will come to you and guide you through the options, taking all your needs and limitations into account.

Kitchen Remodel

Average cost

$22,472 to replace appliances with more energy-efficient models; update cabinets with new panels; install new countertops plus a new sink and faucet; change hardware; lay new flooring and repaint the walls.

Average resale value

$17,845

Cost recouped

79.4%

A modern, functional kitchen should be neutral to be appealing.

Vinyl Siding Replacements

Average cost

$13,562 to replace 1,250 square feet with the new siding

Average resale value

$10,086

Cost recouped

74.4%

Spruce up your home’s exterior with budget-friendly vinyl siding.

Why Garage Doors are a Favorite

Because attached garages take up to as much as 40% of your home’s façade, it is no wonder that garage doors can make or break the first impression of your home. Whether you are ready to take on a home improvement project for your own enjoyment or are planning to sell your home, uplifting your curb appeal is an excellent place to start.

Dilapidated, peeling, or damaged garage doors ruin the presentation of your home making it less attractive to visitors and prospective buyers. On the flip side, a smart new garage door enhances your home’s appearance and street view, enticing people to enter.

A custom garage door, meanwhile, creates a massive impact, adding to the value and appeal of your home at a price that is more affordable than you think.

In the context of selling homes, the local real estate market is red hot for sellers. Because there are few homes for sale, they are selling for above the asking price within just days of being put on the market. Garage door replacements offer great value when it comes time to list your home.

At Tri-Lakes Garage Doors, our office is wherever the door will live! Contact our friendly and professional team to set up a convenient time to come and see you.