When you spend money on home improvements, you want a good return on your investment, also known as your ROI. According to Remodeling Magazine’s Cost vs. Value Report 2014, a new front door is the top-ranking home improvement, adding on average 96.6% of the amount you spent on the door to the value of your home.
A poll conducted by Scotiabank (in Canadian Contractor) states that 65% of Canadian homeowners plan to renovate within the next year. The top three reasons for renovating?
- To increase a home’s comfort (45%)
- To increase a home’s value (22%)
- To repair damages (19%)
If 22% of renovations are undertaken in order to increase a home’s value, a new door can be an excellent upgrade, and a new entryway can add to a home’s perceived value by as much as five times the cost of the door itself.
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