Garage Door Appearance Adds Value When Selling Home
© 2006 Door & Access Systems
Publish Date: Summer 2006
Author: Mischel Schonberg
Page 68
Garage Door Appearance Adds Value When Selling Home
Real Estate Study is Good News for the Garage Door Industry
By Mischel Schonberg, Clopay Public Relations Manager
Replacing the garage door prior to listing a home for sale could increase the asking price anywhere from 1 to 4 percent. On a $350,000 home, that’s an increase of anywhere between $3,500 and $14,000, just because of the garage door.
That’s one of the findings of a nationwide study of real estate agents by Stratamark Research and Clopay Building Products. The research firm recently polled 300 real estate agents to determine whether garage door appearance makes a difference in the listing price they would assign to a house. If so, the study asked how much of an increase a homeowner could expect.
The Findings
Nearly all of the agents interviewed agreed that a new garage door enhances curb appeal, and 75 percent believed it adds value to a home. In fact, most agents have recommended that a homeowner replace their garage door when listing their house for sale because of the condition of the door. It was either broken, in bad condition, or rotted. Nearly half said appearance was a big reason because the age or style of the door detracted from the home’s curb appeal.
“The garage door is the single largest moving part on a home, and if it faces the street, it plays a large part in the overall appearance,” said Marty Dewald, a real estate veteran with a 17-year track record as a top agent for Re/Max Unlimited in southwest Ohio.
“Curb appeal is a critical factor in selling a home. If a prospective buyer doesn’t like the view from the street, chances are he won’t waste time going inside.”
The Right Garage Door Is Key
When it comes to adding value to a home’s list price, the right garage door does make a difference. Agents were shown “before” and “after” images of several different homes featuring a variety of garage door styles ranging in price from inexpensive to high-end. Agents were then asked to assign a selling price to each of the houses and were alerted that the only difference in the photos of each house was the garage door.
The realty professionals increased the list price anywhere from 1 to 4 percent, depending on the style of the door and how it fit in with the architectural style of the house. The increase was determined by the spread between the average estimated selling price of each house with a basic garage door (the “before” image) and the average estimated selling price of that same house with various styles of replacement doors (the “after” image).
“That doesn’t mean that a home has to have a designer garage door – the door just has to enhance the overall appearance,” Dewald added. “However, homeowners should choose a model that fits the look and price point of their home to get the best return on investment.”
The Door That Pays for Itself
“The results of this study reaffirm the message we have been trying to communicate to homeowners and builders for years – garage door design does matter, and the right door can add value to your home,” said Pat Lohse, Clopay vice president of residential marketing.
“In a buyer’s market, homeowners need to be savvy to gain the competitive edge that will help their property sell faster for a higher profit. A garage door that isn’t up to par may be standing in the way of a sale.”
She said that dealers can use this study to show that replacing a garage door can yield a good return on the investment.
To respond to this story, send an E-mail to daseditor@dasma.com.
PHOTO CAPTION: Real estate agents increased the list price on this home by nearly 3 percent after standard garage doors were replaced with steel carriage-house doors, enhancing the home’s style.