To achieve the perfect blend of contemporary features, improved efficiency, added curb appeal and increased value, you may consider modernizing your home’s exterior to fit today’s design aesthetics and finishes. When deciding which home improvement project to prioritize, it’s crucial to consider your return on investment (ROI). A new garage door is one of the fastest, most affordable and most lucrative redesign projects you can embark on — perhaps even the best, according to new data.
Table of Contents
- Does a New Garage Door Increase Home Value?
- What Is the Return on Investment on an Upgraded Garage Door?
- Top Benefits of a New Garage Door
- Why Quality Matters When Installing a New Garage Door
- Reimagine and Reinvigorate Your Home With Banko Overhead Doors
Does a New Garage Door Increase Home Value?
A new garage door adds financial value to your life in two ways — it has a high ROI and saves you money while you’re still living in your house. When you upgrade your garage door to a newer model with contemporary technological features, you can reduce energy expenses, and your belongings will be better protected from theft, minimizing replacement costs. You’ll also see less property damage to your garage walls and floor as you’ve improved the barrier between its interior and extreme weather.
What Is the Return on Investment on an Upgraded Garage Door?
Research suggests installing a new garage door can offer some of the best returns of any home improvement project. The 2024 Cost vs. Value Report ranks garage door replacements highest on the list for exterior renovations. The top five exterior remodeling ROI percentages are as follows:
- Garage door replacement: 193.9%
- Entry door replacement with steel: 188.1%
- Manufactured stone veneer: 153.2%
- Grand entrance replacement with fiberglass: 97.4%
- Minor midrange kitchen remodel: 96.1%
So, if you spend around $4,500 on a new garage door, you’ll get upwards of $8,700 back when you sell your home. You may recoup even more, depending on the quality of your upgrade, the materials used and where you live.
While you may believe interior upgrades will deliver the most bang for your buck, this report reveals more value in focusing on the exterior. After all, a property’s curb appeal is a prospective buyer’s first impression. If the outside is attractive, they will naturally associate it with an interior that matches. A home exterior that looks dingy or outdated may deter buyers, so adding a new garage door will increase your selling price.
An extensive 2022 report on home upgrades by the National Association of Realtors (NAR) and the National Association of the Remodeling Industry (NARI) yielded similar results. They found that exterior renovations add significant value to a home, and replacing your garage door shares the top spot with an upgraded roof at 100% cost recovery. Garage doors also scored extremely high in homeowner satisfaction, with 80% of homeowners expressing a greater desire to be home after doing the upgrade.
Top Benefits of a New Garage Door
Many homeowners use their garage doors as their primary entrance, and a new garage door can add convenience, style and smoother operations to your comings and goings. A new garage door is also a valuable asset to your home because it typically offers the following benefits, both for monetary gain and quality of life:
- Improved energy efficiency: Many garage door manufacturers use high-quality, customizable materials, including an added insulation layer. With these improvements, modern garage door designs are much more energy-efficient than their predecessors. With better air transference control, your indoor environments can remain more consistent. Your HVAC system won’t have to work as hard or run as frequently, and you’ll save money on annual heating and cooling costs.
- Better security: Many older garage doors have flaws that intruders can exploit to enter your home. For example, they don’t lock as securely and have poor opener motors, making them easier to lift from the outside. They also lack rolling door code technology, which makes it possible for someone to duplicate your opener frequency. Newer garage doors feature better, more secure locking systems and come with openers that create unique codes every time you use them, making them impossible to duplicate.
- Less maintenance and repair: Well-maintained garage doors have an approximate 30-year life span. Over the years, your garage door will deteriorate due to constant exposure to the elements and general wear and tear. You may need to replace parts like springs, rollers and bearings or lubricate them to ensure they stay in good working condition. A brand-new garage door will be maintenance-free for a long time.
- Improves practicality: Garages are versatile spaces that can safely house your vehicles or serve as a workshop or storage unit. Installing a new garage door adds value to your home by protecting your items from moisture and humidity during extreme temperatures. A garage door with the appropriate R-value insulation regulates the temperature inside your garage based on the seasons, so you can rest assured your belongings won’t suffer any damage.
- Modern safety features: Along with better security systems, new garage doors also feature the latest safety improvements, like photo eye sensors and automatic reverse systems, so the door cannot close on a person or object. They make less noise than old, squeaky garage doors and open and close faster. The auto-reverse feature is an excellent option to consider when you’re shopping around for a new garage door. It kicks in if the photo eye sensors are faulty and automatically reverses when it touches an object, preventing harm or damage.
- Enhanced aesthetic appeal: A new garage door adds value to your home by showing visitors you care about its condition and appearance. Modern garage door styles are an excellent way to give your exterior a facelift or completely revamp its beauty.
- Increased home value: Curb appeal is a significant selling point when you sell your house. Most contemporary garage door designs can accentuate your home’s architecture and natural charm. This boost in visual interest, alongside improved garage door functionality and efficiency, appeals to potential buyers.
Why Quality Matters When Installing a New Garage Door
While a new garage door can add value to your home, not just any garage door will be the most effective.
According to NAR and NARI’s research, durability, high-quality materials and long-lasting results are the driving forces behind why consumers value new garage doors. If your garage door upgrade falls short of these standards, you may not reap the benefits of a good return on investment. Select a garage door installation company with a proven track record of excellent service and sterling product quality, and add thousands of dollars of value to your home in less than a day.
Reimagine and Reinvigorate Your Home With Banko Overhead Doors
Florida’s subtropical climate makes a garage door upgrade even more of an asset to homeowners. Modern garage door insulation plays a significant role in keeping Floridians cool during the hot, wet summer months. Additionally, having an upgraded garage door could help minimize property damage in the event of a hurricane or other extreme weather.
For an upgrade that meets all the standards you’re after, browse the greater Tampa area’s largest selection of high-quality, beautiful residential garage doors. At Banko Overhead Doors, our skilled and creative team can work closely with you to find products and finishes that best accentuate your home’s exterior, suit your tastes and fit your budget.
We hope this article answers all your questions about how a new garage door can increase your home’s value. For assistance selecting and designing a new garage door, consult with our professionals today by calling 813-737-0675 or completing our online contact form to request an estimate.
Additional Resources on Garage Door Tips and Tricks:
- How to Check the Balance of Your Garage Door
- 10 Cool Garage Door Designs and Automation Ideas
- Common Garage Door Myths
