Installing a New Garage Door vs. Other Home Improvement Projects: What Has the Highest Return on Investment?

Whether you’re in your current home for the long run or you’re getting ready to sell, home improvement jobs are almost unavoidable. But where do you even start, and what’s the most cost-effective way to enhance the performance and efficiency of the functions of your house? We’re here to help by listing your best options for the greatest to least return on your investment, so you can see how they each stack up against each other.

Garage Doors

Garage doors make up for a large portion of the exterior of your home and therefore have a great deal of impact on its curb appeal. But the appearance-based perks pale in comparison to the functional assets of a garage door in good condition, such as the prevention of flooding, energy efficiency, and protection from burglary. Thanks to both aesthetic and functionality, garage door upgrades have the highest return on investment; the average investment cost is about $3,740, with a resale value of $3,411. The average percentage of cost recovered is 97.5-98.3%, an incredibly high rate of return on investment. And if you purchase your new door at a discount, you may even make money down the line.

Manufactured Stone Veneer

When a buyer sees a home with a stone veneer, interest is immediately piqued. Whether it’s a whole side of the house or just accents, this style is a modern and trendy investment, and the manufactured stone is significantly cheaper than the natural alternative. However, it is still quite a costly investment, and you will not receive as high of a percentage return on your investment as the garage door. The average cost for this home improvement is between $8,221 and $9,625, and the typical return on investment rate is 95%. While the ROI is still significant, it’s a large sum of money to lose on a purchase.

Kitchen Remodel

Gutting and entirely redoing a kitchen is what comes to most people’s minds first when they picture home improvement, and the thought immediately afterward is: expensive. Kitchen remodels are notoriously and infamously expensive, but you don’t always have to start completely from scratch. Simply refurbishing cabinets, redoing the floor, or replacing appliances will add significant value to your home, and it can help improve energy efficiency. However, it can still be an expensive job with a lesser return on your investment. The lowest ballpark average for even a minor kitchen remodel is around $21,000, and typical ROI rates range from 80.5 to 81.1%. It may be a worthwhile investment if it’s your “forever home,” there are a plethora of other projects to take on at a smaller cost with a greater ROI.

Start Your Home Improvement Project

Whatever project you decide to take on first, make sure it works for you and your budget. However, the objectively best choice in terms of cost-effectiveness is replacing your garage door. Whether you want a consultation or to simply check out your options, Aladdin Doors is here to help you make the best decision for you and your family, and get you started on your home improvement endeavors.