Measuring ROI From a New Garage Door
Whether you’re updating your home to prepare to put it on the market or want your house to better reflect a certain style, considering ROI when planning renovations is important.
Renovations have great benefits for your home, but certain projects have better ROIs than others. You might be surprised which projects have the best ROI.
When thinking of common home renovations, which projects come to mind? Lots of us think about adding a back porch, updating the kitchen and remodeling the bathroom. However, many homeowners overlook the fact that replacing your garage door has one of the highest ROIs of any home renovation project.
What Does ROI Mean?
Return on investment (ROI) indicates how much value will be added to your home after completing a project. To get a basic understanding of what the ROI of an investment will be, you’ll compare the cost to complete the project to how much value is added to your home. The ROI is typically shown as a percentage.
This concept is a standard calculation in business, not just for home renovation projects. It’s often used to show how efficiently resources and assets are used to benefit a company.
How Garage Doors Add Value to Your Home
Replacing your garage door will add more value to your home than other renovation projects for two main reasons.
1. Curb Appeal
Your home’s curb appeal is the primary reason that a new garage door adds value to your home. Curb appeal is so important because it helps your home give a great first impression to home buyers.
When you put your home on the market, a potential buyer will make a decision as soon as they see the house or even just photos of it online. Attractive landscaping, architectural style, the front entry door, and the garage door all contribute to the curb appeal.
Replacing your garage door is a relatively inexpensive project compared to other options, and it can be a big help in giving your home an attractive look. Even if you aren’t planning on putting your home on the market anytime soon, it will be beneficial to you down the road.
2. Energy Savings
Besides the improvement to curb appeal, a new garage door can make your home more energy-efficient. This increased efficiency can lower your monthly energy bills, saving you even more money over time.
To get the most energy savings, be sure to choose an insulated garage door. This type of door will help keep out warm air during the summer months and cold air during the winter. With a garage that’s a steadier temperature throughout the year, you don’t have to raise or lower your thermostat to fight against the temperature of your garage.
Trust Your Garage Door Replacement to Ole and Lena’s
If you’re on the market for a new garage door, choose Ole and Lena’s for your garage door replacement! We offer an excellent selection of garage doors, making it simple to find the perfect new door for your home. To learn more about our products and services or to get started on your project, please contact us today!