Your Garage Door Might Be Hurting Your Home's Resale Value. Here's How
Are you thinking about selling your house? If so, you probably want to get as much as possible from it. Many factors shape a home's value. One of the things that can influence home value is your garage door. Your garage door makes up about a third of the front of your home, making it likely one of the first things prospective buyers and real estate agents notice when they pull up to your door.
Your garage door has a major impact on the feel and look of your home. If it's dirty or damaged, it will turn buyers off. Also, a general lack of upkeep on your garage door gives buyers the impression that you don't care. This could result in fewer offers on your house. On the other hand, if your garage door is new or in excellent condition, it can result in higher-value offers on your house.
How your garage door can hurt your home's resale value
There are several ways in which your garage door can cause your home's resale value to plummet. One of the things that affects resale value is simply how your garage door looks. If it is freshly painted and looks nice, it's likely to enhance the overall appearance of your home. However, if it has lots of dents and dings, and looks like it needs a new coat of paint, this will detract from the exterior of your home.
The garage door isn't just there for its aesthetic value either, it's also essential that the door is in proper working order. Neglected or deferred maintenance has a major impact on your home's resale value. So, if you have squeaky hinges, worn rollers, or excessive rust on the cables, this can all affect your home's value. It shows home buyers that you haven't kept up with basic maintenance tasks.
Ways to improve your garage door
If you want to increase your home's curb appeal, replacing your garage door can be a good idea — especially if it's outdated or dented. This will give your home a fresh look and up its resale value. A nice-looking garage door can result in a tidy profit when it comes time to sell your home. A report by Remodeling Magazine found that garage door replacements recoup more than 93% of their cost. And, according to Realtors, a new garage door can increase the purchase price of a home by up to $14,000.
While a new garage door can be an excellent investment, it comes with a high price tag. A new garage door costs $2,400 on average. If your garage door is in good condition overall, but looks a little dingy, then cleaning your garage door should be enough to brighten your home's facade. You can also paint your garage door if it has stains that can't be removed with a good cleaning. This is also a good time to lubricate any movable parts on your garage door so that there aren't any annoying squeaks or noises when potential buyers test out the door.