If you own your home, you may be thinking of selling in the future. Whatever your reason for wanting to sell, whether it be to grow your family or to explore new opportunities, you want to sell your home for more than you bought it. This way, you can be sure that your next home is what you really need and want. Fortunately, there are a few things you can do to increase the value of your home that won’t break the bank. If you’re looking for the best ROI home improvements to make before selling your home, one of the first things to consider is a garage door upgrade. In this article, we talk about how upgrading your home garage door is one of the best return on investment projects you can invest in before putting your home on the market.
ROI, or return on investment, is a term used to measure the financial gains or losses due to a specific investment comparative to the amount of money spent. Typically, ROI is shown as a percentage to showcase how much more or less investment is worth. For example, if a person invests $10,000 in gold and sells it for $12,000, the investor makes $2,000. Since $2,000 is 20% of the initial $10,000 investment, the ROI on this investment is 20%. ROI is a great way to see if investments are valuable. And, a good tool to use when determining the investments made on your home improvement projects.
If you’re thinking of selling your home in the future, it’s a good idea to upgrade the home so you can make more money with the sale. But, it’s important to consider the home upgrade projects carefully, as many of these projects won’t provide any return on investment. And, end up costing you more money in the long run. Fortunately, the home selling market is always active in the U.S. And, there are always investors tracking which home renovation projects have the best return on investment. According to the 2019 Cost Vs. Value Report, from Remodeling, a garage door replacement is one of the best home improvements to make according to job cost, resale value, and cost recouped. In fact, according to the report, garage door replacement has a higher ROI than a kitchen remodel, window replacement, bathroom remodel, master suite addition, and backyard patio.
Along with the ROI, some other reasons to consider garage door upgrades include:
Appeal to Buying Market: If you’re wanting to sell your home in the near or distant future while considering the ROI of home upgrades is important, upgrades are also important to simply sell your home. Modern-day homebuyers mostly look for finished homes to buy. This way, they don’t have to consider renovation themselves. In this day and age of convenience, it’s important to give the home buying market what they’re looking for if you want to sell your home at a certain price and within a certain timeframe.
Curb Appeal: While this goes along with the previous point, a good curb appeal makes a great first impression for people looking to buy a home. If a home doesn’t have an impressive curb appeal, potential homebuyers may have a bad taste in their mouths the entire home tour just from the initial reaction of the home. So, along with making sure the home views well in terms of landscaping and exterior paint, also consider how the garage door effects curb appeal.
Modernize: If you have upgraded other aspects of the exterior of your home, you may be looking for that final piece to tie it all together. A new garage door can not only add better functionality to your home, but it can also work to blend the other aspects of your home together.
Looking for a great project to increase the value of your home? Certainly, a garage door upgrade is the best return on investment you can count on compared to many other home improvement projects. If you’re ready to see your options for a top-of-the-line garage door, we can help! Give us a call today to get started at (561) 846-2378.