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Return on Investment
The return on investment (ROI) that a garage door offers is higher than any home renovation project for the Middle Atlantic region of the United States. A complete garage door replacement is valued at 106% ROI. That means, you’d get more than what you paid for the door in the first place. It can be hard to imagine that something as simple as a garage door replacement can add so much value to your home. But with so many materials, styles, and high end products, garage doors can really improve your home’s exterior, increase the energy efficiency, and keep your home safe and secure.
Elements That Impact Cost
- Standard Design vs. Custom Design
Creating a completely custom design with scroll-work, intricate window grilles or replicating a door you saw on vacation in Europe will greatly increase your cost. Choosing a standard design such as carriage house or raised panel while still selecting to use overlays or larger windows may be a more cost effective way to create a door your neighbors will envy.
Doors without windows are typically less expensive, but you may be losing the wow factor windows can add. For standard doors, windows are 8-10% of the cost of the door.
- Special Finishing
Special finishings include a rich stain on a mahogany door or a stain-like paint finish on a high end vinyl door. These options add to the overall value and elegance of your home’s exterior. Depending on the type of customization you choose could increase the cost of your door by 10%-90%.
The material you choose for your garage door depends on your needs and wants as a homeowner. If you have an active driveway where children are playing, you may opt for a more durable material which will save you money in the long run.
- Woodwork Replacement
Your garage door track is mounted to the goal posts inside of your garage. It’s important that the woodwork is strong and not damaged so it can securely and safely hold your garage door. Any reputable garage door company will inspect your woodwork prior to installation and make appropriate recommendations. Basic woodwork replacement starts at about $150, however depending on the extent of damage from water or the installation of your current doors, this can increase.
- Opener Replacement
In some instances, garage door openers can be reused, but with so many functions and features built into garage door openers, about 66% of homeowners choose to purchase a new one. This can cost between $399–$999 depending on the opener you choose and its unique features. It’s also important to note that an unbalanced door puts more strain on the gears and motor of your opener. Installing a new door that is well balanced with an opener that is already worn can ultimately cost you slightly more. Should your opener fail, it will require an additional appointment and service fee for the replacement visit.
Insulation helps stop heat loss from your garage, but may not be necessary depending on what your garage is used for. If it’s detached, does not have an opener installed, and is used to store tools and equipment, you may not want to pay for the addition of insulation. However, if your garage is attached to your home, serves as a main entryway, or is used as a workshop where you entertain your hobbies, insulation may be a really important feature and the cost of $150–$500 can ultimately lower the energy bills in your home from lost heat or cooling through your garage.
- Door Type Changes
If you are converting from a swing out, sliding or one piece garage door, there may be additional labor charges for retrofitting your current space to work with a modern day overhead door.
- Company Installing Your Garage Door
The garage door you choose is only as good as the company you choose to install it. A garage door is truly an investment in your home, and you’ll want to protect it, before it’s even on your home.
Selecting a company that is trustworthy, accountable for their work, has a variety of reviews online, and written installation standards will ensure a quality installation process. While it may cost a little more money upfront, a high quality company will ultimately save you money in the long run because you won’t have to keep calling for garage door services and repairs. Not to mention, should an issue arise, you’ll know exactly who to call!
*Subject to credit approval. If under plan #4068 or #4123, interest is billed during the promotional period but all interest is waived if the purchase amount is paid in full within the 6-12 months. If plan #2786, fixed interest rate of 9.99% for 96 months. Payment example assumes one time $10,000 purchase on approval date (APR 10.10%) with 1 payment of $190.68 followed by 95 amortized payments of $151.68. Payments assume Account Activation charge of $39 applies and is due with first required payment.
...Stay tuned for next week's "Garage Doors in Plain English"