Does a New Garage Door Increase Resale Value?
Although it hasn’t always been the case, more real estate agents in Bakersfield are recommending garage door improvements to their clients looking to sell. Major Bakersfield garage door repairs should be performed at the very least, but agents are motivated by recent data that these investments, on average, are recoverable and help homes to sell faster.
NAR and NARI Research
This research was performed by the National Association of Realtors in conjunction with the National Association of the Remodeling Industry. What is interesting is that this trend was not driven by the research. Rather, NAR was motivated by trends that it was witnessing but not necessarily recommending. After studying sales, it found that more than 75 percent of sold homes with recent garage renovations have sold faster and at a higher price than comparable homes.
A big part of this is highly subjective, but there is little question that curb appeal matters. If a garage door looks dirty, worn and old in general and particularly contrasts with neighboring homes, then that home just will not sell as quickly or for as much as the market suggests it should.
Building Code Standards
Another factor is a much greater emphasis on local building codes. Even when buying homes that are a decade old or older, buyers are demonstrating a preference for construction that meets code. Ensuring a garage door meets the wind load set forth by your local code could make a difference in the sale.
A final factor is technology. The bigger difference in Millennial homebuyers and those older than them is a focus on smart technology. These buyers want smart homes, and that includes garage door opening and security mechanisms that can interface with the home network, mobile devices and so forth. Much of the newer equipment on the market comes with these types of advancements.