Increase Your Home Value: Add a Deck
Adding a deck to your home not only provides extra space for relaxing, entertaining, and backyard barbecues, but also increases the value of your property. Here is how this ‘must-have’ feature can put cash in your pocket at the time of sale.
How a Deck Adds Value
According to a 2022 report from Remodeling Magazine, a deck is among the top 12 outdoor improvement projects that continue to provide the greatest return on investment (ROI) when a house is sold. The report shows a homeowner will recoup about 65% of the cost of a standard wooden deck, while a composite one will return about 62%.
The ‘Joy’ Factor
The ‘joy’ score, calculated by the National Association of Realtors, of a renovated deck is 9.8 on a scale of 1 to 10. The ranking is based on how much happiness various home renovation projects bring. When a deck project was completed, 81% of homeowners reported a greater desire to be home, 74% enjoyed their home more, and 77% felt a major sense of accomplishment.
Reasons People Love Decks
There are several reasons why decks are appealing. A deck increases a home’s usable space and costs much less than it would to build a new room. Decks are popular gathering places and add extra space to mix and mingle. They’re also great to hang out on when the weather is nice.
Consider adding a deck if other homes in your neighborhood have one. If you go without, it may impact your home’s resale value. The same goes if you have an older deck that is showing wear and tear and needs to be replaced.
Decks also provide another route from the home to the yard, which is practical and attractive to buyers.
Tips for Adding Value
There are many ways a deck can boost the value of your home when it goes on the market.
The Location. If you live in a warm area where outdoor lifestyles are common, a deck is a key feature that homebuyers will likely want and pay for. Even in colder climates, a deck provides an expanded area for entertaining friends in the pleasant summer months.
Deck Material. Wood decks have a slightly higher ROI than composite decks do, but there are other factors you need to consider. A wood deck typically lasts 10-15 years, but the wood begins to deteriorate after about 8 years. Regular maintenance is needed to make it last longer. A composite deck can stick around for as long as 30 years. The material is also more durable than wood in colder climates.
Timing. If you are planning to sell your home, you probably won’t want to invest a lot of money into a deck project. However, if you plan to stay put, a more expensive and better quality deck will last longer and serve you better.
Don’t Overdo It. Remember that investing in a fancy deck won’t always pay off when you sell. The extravagance could ‘over-value’ your home, making it much more expensive than other dwellings in your area.
Let Us Tackle Your Deck
Excel Fencing and Decking is your number one source in the Greater Baltimore Region for your fencing, decking, and indoor remodeling needs. We provide superior service to Cecil, Baltimore, Harford, Howard, and Anne Arundel Counties. Call us directly at 410-803-9499 or fill out our contact form for more information.