Many home improvement projects, such as adding a new bathroom or remodeling your kitchen, can appear daunting. But does a deck improve home value? Adding a new deck or refurbishing an old deck is one of the most tempting home repair projects. The goal is to create the perfect backdrop for an afternoon BBQ or an evening of relaxation with the family.
Did you know that, with a few exceptions, adding a deck to your property can also increase its market value? After you’ve finished putting the finishing touches on your new deck, go out and sell it.
Adding a deck to your home comes at a cost. The average cost of a new wooden deck is around $10,000, while the average cost of a new composite deck is over $17,000. This isn’t, however, money down the drain. With a few measures, you may greatly improve your ability to relax outside in your home while also increasing its resale value if you decide to sell.
A DECK CAN RECOUP ITS WHOLE COST
Many home improvement projects only recoup between 50% and 80% of their cost. Several studies have found that the ROI for patios and decks can be as high as 100% depending on the size and materials used.
Patios can recover 102% of their construction expenditures on average, according to the National Association of Realtors. Based on their 2018 Remodeling Impact Report. The recover rate was as high as 106% in the 2016 version of this study. Experts say that adding a wooden deck to a mid-range home is the most cost-effective home improvement project.
OTHER THINGS TO THINK ABOUT
The impact of a deck on the resale value of your home is mostly determined by the region in which you live. Property buyers are ready to pay more for a home with a deck if it is located in an area with warm, deck-friendly weather all year. The impact on your home’s market value will be less pronounced in places with long winters.
According to some research, building a new deck will only return a small portion of the expense. When you place your house on the market, however, you might earn much more than your investment if you exclude labor costs from your budget. Obtain the necessary permits and build a DIY deck to save money and get the most out of your investment.
HOW DO DECK MATERIALS AFFECT HOME RESALE VALUES?
The deck material you choose is the most essential factor in determining the cost recovery of your deck restoration job. Wood and composite decking are the two most popular decking materials in the United States.
Decks Made Of Wood
Wood decks provide the best return on investment in terms of pure home resale value. When compared to a composite deck, the less expensive material results in a less expensive deck installation while increasing the resale value of your property by a similar amount.
Wood decks, on the other hand, are less resistant to the effects of weather and temperature than composite decks. As a result, wood decks require regular care and upkeep in order to maintain their quality and resale value.
Wood decks should be avoided by homeowners in northern locations such as North Dakota and Minnesota. Even when properly maintained and handled, this material will not withstand the region’s snowy winters. Wood decks are a good choice for homeowners who want to sell their house as soon as the remodeling is finished.
Decks Made Of Composite Materials
Composite decking is more expensive than wood decking since it is of superior quality. A composite deck costs $17,000 on average, compared to $10,000 for a wood deck of the same size, according to the report referenced above. This increase in price reflects the material’s long-lasting, trustworthy, and timeless qualities.
Composite decking is the industry’s fastest-growing segment. Inclement weather, rain, wind, and severe temperatures have no effect on composite decking. To keep composite decking appearing new, only light maintenance is required. Because of this benefit, many homeowners chose composite material to build their deck in order to avoid the hassle and commitment of routine upkeep.
Composite decks are great for homeowners who wish to enjoy their deck for many years before selling their house. If you aren’t planning to sell your home in the next six to a year, a composite deck is the way to go.
THE BENEFITS OF A DECK
High Resale Value
While many home improvement projects only recoup between 50% and 80% of their cost, studies have shown that the ROI for patios and decks can surpass 100% depending on the size and materials used.
Terrain Can Be Uneven
Even if your yard is not level, decks can be erected on any sort of ground.
A Better View
Because a deck may be placed off the ground, it provides a superior view, which can increase the value of your home.
Many Customizations
A wooden deck is easily adjustable, as it can be painted or stained to any hue or shade. It can even be stained to match your home’s exterior style.
Great In Hot Weather
Wooden decks naturally absorb and retain less heat if you live in a hotter region and your home receives a lot of sunlight.
THE DISADVANTAGES OF A DECK
More Upkeep Is Required
Decks should be power washed, stained, and sealed every couple of years, depending on the material.
A Shorter Life Expectancy
If not properly treated, wood is more susceptible to the elements and can rot, fade, and discolor over time.
Permits May Be Needed
Many municipalities and cities have their own set of rules and may require a permit before constructing a deck, which may come with a charge and a waiting period.
Expensive
While the cost varies depending on the material, decks are often more expensive, with high-end decking material costing an average of $30 per square foot.
Restrictions On Weight
When designing your deck, keep weight in mind, especially if you plan to add a hot tub or an outdoor kitchen.
Summary: Does Does A Deck Improve Home Value
Many home improvement projects, such as adding a new bathroom or remodeling your kitchen, can appear daunting. Adding a new deck or refurbishing an old deck to create the perfect backdrop for an afternoon BBQ or an evening of relaxation with the family is one of the most tempting home repair projects.
Did you know that, with a few exceptions, adding a deck to your property can also increase its market value? After you’ve finished putting the finishing touches on your new deck, go out and sell it.
Adding a deck to your home comes at a cost: the average cost of a new wooden deck is around $10,000, while the average cost of a new composite deck is over $17,000. This isn’t, however, money down the drain. With a few measures, you may greatly improve your ability to relax outside in your home while also increasing its resale value if you decide to sell.
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