A high-end garage door can make sense as a project for a few reasons. For one thing, higher-end garage doors tend to be far more durable than cheaper (and especially older) ones and also tend to come with better insulation. This can offer the interior of your garage increased protection from the elements as well as from break-ins. In short, high-end garage doors are a very functional upgrade.
They can also increase the curb appeal of your home, as high-end garage doors can be very attractive. This is especially true if you're replacing an old garage door or one that's otherwise an eyesore.
In a nutshell, high-end garage doors can be visually appealing and also add function to your home. And as you'll see, they can add significant value to the property.
How much do high-end garage doors cost?
According to Remodeling magazine, the average cost to replace a 16x7-foot garage door and its tracks is $3,695, including installation and all necessary hardware. And this implies a higher-end unit -- for reference, Home Advisor (NASDAQ: ANGI) says the average cost of an installed garage door replacement is $1,117.
Are high-end garage doors worth the investment?
The short answer is that high-end garage doors can definitely be worth the investment. According to Remodeling's 2020 Cost vs. Value Report, an upscale garage door replacement can be one of the best ways to add value to a property. Per the report, the average cost to replace garage doors will add $3,491 on average to a property, for an average return on investment, or ROI, of 94.5%.
However, there are a few caveats and other things to keep in mind:
- This is based on national averages, and the ROI for your garage door upgrade could be higher or lower. In some areas of the U.S., the average ROI for a high-end garage door replacement is actually over 100%, while in others, it can be well below the national average.
- This estimate makes some big assumptions, specifically that you reuse the currently installed garage door opener and just replace the door and tracks. If you have to buy and install a new garage door opener, it can significantly reduce your ROI.
- Finally, while Remodeling's report doesn't specifically say this, doing this project only makes sense from a value perspective if your current garage door is old or unattractive. Think of it this way: If you replace a new and attractive garage door with a slightly nicer one, will it really make a big difference in terms of the market value of the home?
The Millionacres bottom line
High-end garage door replacements can certainly add value to a property, and for investors, they can make properties more attractive to prospective renters or buyers. But it's important to consider your specific situation, not just national averages, when deciding if it's right for you.