One of the things you need to keep in mind when deciding on installing a new garage door is the cost of doing so versus the value that a new garage door will add to your home. This is something you should always think about whenever making home improvements especially if you are expecting the cost to be made up by the value that the home improvement adds to your home. Fortunately, there’s good news if you are planning on installing a new garage door.
The 2015 Cost vs. Value Report was recently released, and while the cost vs. value of home improvements on the whole is down from last year, the cost vs. value on garage doors is looking promising. Costs of home improvements rose pretty consistently since last year; however, values only rose half as often. The cost-value ratio for this year is 62.2 percent, which is a 3.9 percent drop off from last year. This is the first drop in gains in three years.
In fact, there were only five home improvement projects that experienced a rise in cost-value ratios in this year’s report. These projects included midrange roofing replacement, steel replacement entry doors, vinyl siding replacement, fiberglass replacement entry doors and midrange garage door replacement. The cost-value ratio of midrange garage door replacement actually rose a respectable 5.6 percent from last year. It was even noted that garage door replacements had a 100 percent return on investment in 28 major markets.
While the cost vs. value ratio has declined for many home improvement projects, it has increased on garage door replacements this year, making installing a new garage door a smart bet. For more information and advice about installing a new garage door, be sure to contact us at Cost Less Garage Door today.