Did You Know?
Realtors say garage door appearance matters when selling a home
OHIO - The garage door may not be the first item homeowners think of dressing up when putting their house up for sale, but realtors say it's worth giving it some attention. Replacing the garage door prior to listing a home could increase the asking price anywhere from one to four percent, according to realtors surveyed in a nationwide study fielded by Stratamark Research and a nationally recognized garage door manufacturer.
On a $350,000 home, that's an increase of anywhere between $3,500 and $14,000, just because of the garage door. The research firm recently polled three hundred realtors to determine if garage door appearance makes a difference in the listing price they would assign to a house and if so, how much of an increase a homeowner can expect. Nearly all of the agents interviewed agreed that a new garage door enhances curb appeal and 75 percent believe it adds value to a home. In fact, most realtors have recommended that a homeowner replace their garage door when listing their house for sale because of the condition of the door - either it was 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," says Marty Dewald, a real estate veteran with a 17-year track record as a top agent for ReMax. "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."
When it comes to adding value to a home's list price, the right garage door does make a difference. A nationally recognized manufacturer showed realtors before and after images of several different homes featuring a variety of garage door styles ranging in price from inexpensive to high-end. Respondents were 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. Depending on the style of the door, and how it fit in with the architectural style of the house, realtors increased the list price anywhere from one to four percent. The increase was determined by using the spread between the average estimated selling price of each house with a basic garage door (Before) and the average estimated selling price of that same house with various styles of replacement doors (After.)
"That doesn't mean that a home has to have a designer garage door - the door just has to enhance the overall appearance," Dewald adds. "However, homeowners should choose a model that fits the look and price point of their home to get the best return on investment."