Posted in Industry News
Remodeling Spending Boosts Garage Door Market
According to Construction Dive, spending on home remodeling is doing very well this year. Consider these stats:
- HomeAdvisor’s latest True Cost Report estimates that 80% of homeowners will complete a home improvement project this year.
- NAHB’s Remodeling Market Index edged up five points in just Q1 of this year.
- According to a recent NAHB analysis, homeowners who remodel this year will spend an estimated $6,148 – up from last year’s $5,800.
- Home-improvement spending is averaging a whopping $22,000 in many parts of California and New York.
- The remodeling sector is expected to grow 2% annually through 2025.
These findings are echoed by Remodeling magazine, which estimates that replacing a garage door adds an average $2,810 to a home’s value.
All these trends are auspicious signs for the rollout of the new LP PurposeBuilt™ line of overlays for replacement garage doors. Although they’re not designed to augment an existing garage door, these products deliver exceptional durability and aesthetic appeal, especially in carriage and courtyard-style homes where the garage doors are visually prominent.
With strong tailwinds in the remodeling sector, look for LP PurposeBuilt garage door overlays to open the door to new opportunities this year. To learn more, contact your local garage door manufacturer or visit the LP PurposeBuilt site.
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