Cost Vs. Value

Summer

Cost Vs. Value

Having your garage door replaced might seem like a huge expense, but like other purchases, the cost or price of something should not be the only thing considered when deciding what you want.

The price is definitely not to be omitted from your consideration, simply because every single person or family has a different budget in mind. However, it is often not the biggest factor in major purchases. Remember to think about its value or how many benefits you will get if you pay a certain price.

Think of it This Way

As an example, let’s compare a small house appliance like a toaster. First, figure out what you want out of this toaster. Do you want a 4 slice holder, but only need 2? Do you want customizable shade options? Is a smaller unit more convenient? Do you want a warranty? How often are you going to use it?

Research a few options and look at their specifications, customer reviews and price. For this example, we will compare two unnamed brands from a department store: Toaster A and Toaster B.

Toaster A is a 2 slice toaster with extra wide slots and a high-lift lever for easy toasting of big or small breads or bagels. There is a slide-out crumb tray for easy cleanup. It has a 750.0 output wattage, weighs 2.36 pounds, is made of plastic, and is small enough to easily fit on a shelf.

Toaster B is a 4 slice toaster and has 7 shade settings for everyone’s preferred crispness as well as an easy pull-out crumb tray for quick clean-up. This toaster also has additional functions such as a defrost and a cancel option outside of the lift lever. It has 850.0 watt outage, weighs 6 pounds and is made of stainless steel. It also comes with a 2 year limited warranty from the manufacturer.

At this point you can check the price, or you might already have. Toaster A retails for $9.99 while Toaster B retails for $39.99. This is where the cost vs. value comes into play. While toaster A is cheaper, it doesn’t come with the extra features and wattage you might want. It also is made of a less durable material and doesn’t come with a manufacturer’s warranty.  It’s also important to figure out if you need the four slice holder or if it might take up to much space in your kitchen.

It’s important to establish your purpose and goals of a product and look at the pictures as a whole, even more so with larger, more expensive purchases.

Applying to Buying a Garage Door

Same process applies to deciding on a garage door or garage door repair service. Compare your options by setting up a list of needs and wants. When checking the price, if one is dramatically lower than all other options or companies, it probably means it’s too good to be true. Look into why that price is so low and don’t be afraid to ask questions.

The Return on Investment

The national average cost for garage door replacement is $3,470 with a 98.3% return on investment. Garage doors last a long time, and if you only replace your garage door once, the cost of your garage door almost pays for itself.

The thing to take away from this is that the value of an item often outweighs the cost of it. Paying a little more now might save you money on repairs and other costs down the road.

Want to learn why you should choose Overhead Door Company of Green Bay garage doors?

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