Garage Door Replacement Projects Increase Resale Value in Knoxville Market
If you’re looking to increase the value of your Knoxville area home, a garage door replacement project is one of the only renovations shown to bring a positive return on investment, based on data from a recent study.
Basic garage door replacement was one of only four home renovation projects that actually increased in value over the cost of the project, according to the Knoxville, Tennessee 2017 Cost vs. Value Report published by Remodeling magazine and the National Association of Realtors (NAR). In fact, resale values for basic garage door replacement in Knoxville was 35% higher than the national average.
The 2017 report results aren’t news, however, as garage door replacements have ranked in the top five highest returns on investment since the survey first included them seven years ago.
“With the housing market as competitive as it is, making a great first impression to buyers by updating an outdated garage door is one of the easiest and most cost-effective ways to boost resale value,” says Heather Meiner, Brand Manager for Overhead Door, one of the most trusted manufacturers of garage doors and openers for residential applications.
In addition, results indicate that replacing a basic garage door with an upgraded one from Overhead Door can yield 13% more return on investment than the national average.
Overall, trends have shown that projects upgrading the “curb appeal” of a home generate higher returns on investment than other renovations. In addition to garage door replacements in Knoxville, upgrading attic insulation, replacing a roof, and adding manufactured stone veneer were the only other renovations that generated an increase in resale value.
The 2017 Cost vs. Value Report is the 30th edition of the annual publication that surveys NAR members in 99 U.S. markets to compare the average cost of 29 common renovation and remodeling projects with their value at resale.
Interested in Starting a Garage Door Project?
We can help you get started with your garage door upgrade and give you the best options for your wants and needs. If you live in Knox, Anderson, Roane, Union, Grainger, Hamblen, Jefferson, Sevier, Blount, or Loudon county, we can serve all your garage door needs—from installation to service or repair. Click here or call (865) 573-1950 to tell us about your needs. We will happily collaborate with you and provide you with a professional service call or estimate.
About Overhead Door Company of Knoxville
When it comes to dings, springs, and all garage door installation and repair needs, our trusted experts are ready to serve you. Overhead Door Company of Knoxville has the BEST doors and the BEST service—guaranteed—since 1936.