Cost Vs. Value 2024 Report

The Cost vs. Value report is an annual roundup of remodeling statistics presented by Remodeling Magazine. It aims to help homeowners, home buyers, and investors understand the initial remodeling cost and return on investment (ROI) of different renovation projects.

Why Garage Doors?

Why does replacing a garage door yield such high returns? The answer lies in its substantial impact on a home’s first impression. A new garage door can significantly enhance a home’s aesthetic appeal and perceived value, making it stand out in a competitive market. Todd Tomalak, a principal of Zonda Advisory, notes, “A new garage door can be the defining feature that differentiates a home in the eyes of move-up buyers—who are notably more discerning than first-time buyers.”

Garage Door Replacement = Long-Term Value

The value of a new garage door extends beyond just curb appeal. It also encompasses improved functionality, enhanced security, and increased energy efficiency, all critical considerations for today’s homeowners. These functional benefits contribute to the overall valuation boost provided by a new garage door installation.

A Cost-Effective Solution for Home Improvements

For home improvement professionals, the CVV report is more than just a tool to estimate potential resale value—it’s a conversation starter with clients about the value of their investments. It helps remodelers articulate the tangible benefits of home improvement projects, particularly those that may not immediately appear lucrative but offer significant returns. By focusing first on potential ROI, professionals can guide homeowners through decision-making, emphasizing the aesthetic and functional upgrades that a new garage door provides.