If you happen to be in the middle of a mortgage loan, a sale or refinancing your property, you need to make sure your home is appraised at a high value for maximum profit. If your home does not have an existing garage, or you need more store, building a garage can add great value. Needless to say, garages are viewed at with great approval by pretty much anyone who wants to buy a home.
Appraisals are a very important part of selling your home. If the appraisal of your home doesn’t have a high value you may never reach that level of equity you desire. If you plan on selling your property you will need it to be appraised at your asking price. If that doesn’t happen, you may have problems with mortgage money lending for potential buyers.
When it comes to garages, the value of your home is determined by a few factors. They will certainly look at the prices of nearby homes and how they have changed throughout the years. They will consider factors such as the neighborhood, the condition and style of your home as well as its size. They will also evaluate the possible improvements you may have made to it. You will need to make it as attractive as possible to the largest number of buyers if you want good results. If your home has a garage already you may consider changing the garage door so it will look brand new, bringing up the curb appeal of your home.
So exactly how much value does a garage or a changed garage door add to your home? In many ways this can add tens of thousands of dollars worth of resale value, but that mostly applies to the addition of an entire garage. In most cases adding a new garage door can add about 85% or even more of the money you’ve placed into that project, so keep in mind the recapture rate is a pretty good one. A little thing like changing the garage door not only brings more practicality, but it also gives your home a more refreshed look that goes a long way.
Garage doors are one of the most important faces your home has to offer to the world, so they will always raise its resale value. Damaged or peeling garage doors will lower the appeal of your home, thus making it less desirable. Great-looking garage doors will have a wonderful effect on the overall desirability of your home. No matter what you decide to do in the end, a renovation and replacement of such a door would be a of great value as a project.
