The Cost Vs. Value 2024 proves curb appeal is still the highest value for home improvement. The quest for the highest return on investment (ROI) for home improvement projects often leads homeowners to prioritize cost-effective renovations. Among these, garage door replacements top the list with an unprecedented 194% average ROI nationally, making them the most lucrative and high-value project for homeowners aiming to increase their property investment.
.
Thermacore Model 5740, Flush Design, Cedar Plank Finish, Clear Long Vertical and Horizontal Window
This year’s report finds that exterior improvement projects continue to provide home sellers with the most significant ROI. Eight out of the top 10 projects with the highest ROI were exterior improvement projects—a result that proves consistent in the CVV report, owing to values defined by real estate professionals, who tend to place a high value on a home’s curb appeal in establishing a home’s selling price.
Cost Vs. Value 2024 Report
The Cost vs. Value report is an annual roundup of remodeling statistics presented by Remodeling Magazine. It aims to help homeowners, home buyers, and investors understand the initial remodeling cost and return on investment (ROI) of different renovation projects.
Why Garage Doors?
Why does replacing a garage door yield such high returns? The answer lies in its substantial impact on a home’s first impression. A new garage door can significantly enhance a home’s aesthetic appeal and perceived value, making it stand out in a competitive market. Todd Tomalak, a principal of Zonda Advisory, notes, “A new garage door can be the defining feature that differentiates a home in the eyes of move-up buyers—who are notably more discerning than first-time buyers.”
Garage Door Replacement = Long-Term Value
The value of a new garage door extends beyond just curb appeal. It also encompasses improved functionality, enhanced security, and increased energy efficiency, all critical considerations for today’s homeowners. These functional benefits contribute to the overall valuation boost provided by a new garage door installation.
A Cost-Effective Solution for Home Improvements
For home improvement professionals, the CVV report is more than just a tool to estimate potential resale value—it’s a conversation starter with clients about the value of their investments. It helps remodelers articulate the tangible benefits of home improvement projects, particularly those that may not immediately appear lucrative but offer significant returns. By focusing first on potential ROI, professionals can guide homeowners through decision-making, emphasizing the aesthetic and functional upgrades that a new garage door provides.
.
Modern Aluminum Glass, Dark Bronze Aluminum Finish, Satin Etched Glass
.
Traditional Steel, Long Panel Design, Black Finish, Clear Long Windows
View our Residential Garage Doors
With garage door and steel entry door replacement taking positions 1 and 2, their values result in ROIs of almost 200% and an average ROI for the manufactured stone veneer project of over 150%. These “hot returns” are the highest in the history of the Cost vs. Value report and can be attributed to the unique housing market for existing homes.
“There has been a strong home market shift favoring move-up buyers. A new garage door or new entry door can make a pronounced difference and it could be the thing that makes one house stand out against all the others.
Top 10 projects – Cost Vs. Value 2024
Remodeling Project
Garage Door Replacement
Entry Door Replacement
Manufactured Stone Veneer
Grand Entrance Upscale | Fiberglass
Minor Kitchen Remodel
Siding Replacement | Fiber-cement
Deck Addition | Wood
Siding Replacement | Vinyl
Bathroom Remodel Mid-Range
Deck Addition | Composite
Job Cost
$4,513
$2,355
$11,287
$11,353
$27,492
$20,619
$17,615
$17,410
$25,251
$24,206
Value at Sale
$8,751
$4,430
$17,29
$11,054
$26,406
$18,230
$14,596
$13,957
$18,613
$16,498
Cost Recouped
194%
188%
153%
97%
96%
88%
83%
80%
74%
68%
Garage Doors Play Vital Role in Curb Appeal
Garage Doors Play a Vital Role in Curb Appeal for homes and businesses. For homes, they are often located on the front of the house and can cover up to 40% of the front [...]
Garage Door Security Tips To Prevent Home Invasions
You can use different garage door security devices outside your garage door: openers, lights, cameras, and home alarms. You’ve invested significantly in your home, family, and belongings, so keeping your home and garage space [...]
2 Devices You Need in Your Garage
When it comes to home safety, homeowners think about safety for their homes, not necessarily for their garages. They install alarm systems and incorporate deadbolts and security cameras within and around their homes. Yet [...]
Key Garage Door Accessories
To ensure the durability of your garage door, you need to understand key garage door accessories. A garage door comprises many parts that work in harmony to enable it to open and close safely. [...]
Top Reasons Garage Door Springs Break
Garage door springs do all the hard work when opening and closing doors. Broken garage door springs are a perplexing problem for businesses and homeowners who do not know precisely when this will happen. [...]
Garage Door Transformations
Most people probably don't think about replacing their garage door until it's necessary, putting it off until it's dingy, or the door stops working. However, curb appeal-conscious homeowners know the value a statement garage [...]
How to Lubricate Your Garage Door
Modern garage doors simplify our lives. Yet, without regular maintenance, these conveniences might begin to make too much noise, malfunction, or break. Learn how to lubricate your garage door parts for proper operation and [...]
How to Open a Garage Door Manually
Almost all garage doors feature a manual release function that bypasses the opening mechanism during power outages, malfunctions, or emergencies. Locate the short rope from the garage door track to trigger the manual release. [...]
Best Ways to Keep Your Garage Cool This Summer
Garages make an excellent workspace, but not when they’re uncomfortably hot – especially if you live in a climate prone to extreme heat. Fortunately, there are many things you can do to keep your [...]
Garage Door Maintenance Tips
Here are Garage Door maintenance tips to keep your garage door in working order and spare you from costly, time-consuming repairs. Each tip helps homeowners identify issues sooner, extend the life of their garage [...]
Call a Professional to Repair Your Garage Door
Garage doors are the unsung heroes of our homes, standing guard and ensuring their security and accessibility. However, like all appliances, they are susceptible to wear and tear. While DIY can be satisfying and [...]
DIY Garage Door Repairs
The desire to save money and be self-sufficient is ever-increasing in today's world. It’s no wonder many homeowners take the DIY Garage Door Repairs approach to various tasks around the house. Working through a maintenance [...]
Call us Today at (858) 264-3650
Overhead Door Company of Southern California™ – 12215 Kirkham Road Suite 200, Poway, CA 92064
Call Us Today at (858) 264-3650
Or Email us on the Form Below.
Business Hours: Monday – Friday 7 AM–4 PM
Call us Today at
(858) 264-3650
Or Send us an Email.