Cost vs. Value Report says homeowners can achieve up to an 85 percent return on investment with a garage door replacement
March 6, 2017 – Garage door replacements claim one of the top spots for the highest return on investment among household improvements nationwide in the 2017 Cost vs. Value Report by Remodeling magazine. According to the report, both recent and long-term key trends indicate that “curb appeal” projects generated a higher return on investment than improvements done inside the home. On average, the report data indicates homeowners across the nation who completed a garage door replacement in 2016 earned up to an 85 percent return on investment. In select markets, that number reached as high as 115 percent.
For the annual Cost vs. Value Report, now in its 30th year, the National Association of Realtors (NAR) and Remodeling magazine publisher Hanley Wood asked approximately 1,500 NAR members nationwide between August and October of 2016 to evaluate a variety of home improvement projects and report the return on investment homeowners can expect when selling their homes.
This year, the Cost vs. Value Report analyzed 29 popular home improvement projects in nine U.S. regions and 99 U.S. cities. According to the report, homeowners can expect 64 percent back on every dollar spent on renovations overall. To calculate which home improvement projects yield the highest returns on investment, each project’s cost is divided by the home’s resale value. Construction cost estimates were generated by RemodelMAX, a publisher of estimating tools for remodelers.
“A new, well-crafted garage door adds a fresh look to any home. Whether remodeling to sell or remodeling to stay, a garage door replacement is sure to make a lasting impression,” said Sarah Schram, Brand Manager at Wayne Dalton, a premier manufacturer of residential garage doors.
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About Wayne Dalton
Wayne Dalton, a division of Overhead Door Corporation, is a world-class leader that has designed and manufactured residential and commercial garage doors since 1954. The company is known as a proactive business partner for its dealers, providing a wide breadth of innovative, easy-to-install products and smart sales tools to help grow their business. For consumers, Wayne Dalton simplifies the purchase process by providing a full range of doors and styles through conveniently located dealers. For more information, visit www.Wayne-Dalton.com.
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 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 99 U.S. cities.
Media Contact: Alexandra Ruffo
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