There’s no doubt that a deck will add to the enjoyment you get out of your home. It brings a whole new living space to the property making the outdoors an extension of your house. However, as with other improvements, a deck is an investment. When you start putting together your budget it’s good to know how much return you can expect.
General Deck Value Estimates
A deck addition is one of the best improvements a person can make to their home in regards to adding value. It’s all about what appeals to buyers and a well-made deck is something that can add real wow-factor as well as functionality. Below are a few statistics on how much value a deck adds to a home.
· HGTV has estimated that homeowners should see a return of 65-90%.
· Yahoo Finance stated that a $10,000 wood deck typically add $8,600 to the resale value – that’s approximately an 82% return.
· In 2007 Remodeling Magazine found that a wood deck addition yielded the best return on investment, adding $8,835 to the value.
· On average a wood deck costs just $15 a square foot as opposed to $85 a square foot for the interior of a 2,000 sqft home.
There are many more findings like the ones above. Now that we’ve established that a wood deck can add real value to your home let’s take a look at some of the factors that affect value the most.
Factors That Affect the Value of a Deck
Area you live in – From broad aspects like the region or state right down to the neighborhood, the area that you live in will have a huge bearing on the value of a deck. If you live in a climate that is conducive to outdoor activity most of the year a deck can greatly increase the appeal of your home. Another value factor is the cost of construction in a region.
Construction – Of course, the construction, most notably the size and materials used, has a significant impact on the cost and value of the deck. DIY homeowners that build the deck themselves stand to get the biggest return on their investment. However, if you have to buy tools for the project or the deck is poorly constructed then that reduces the return you see.
Added features – Sometimes those little extras can add a lot to the value of a deck. But be careful not to over improve. If the main goal is to increase your property value, adding a ton of expensive bells and whistles will likely cost you more than what you would recoup in increased value. However, if you plan to be in your home and make use of the deck for a while then the added cost can be worth it.
More important than added value is the added enjoyment you’ll get out of a deck. Focus on building a deck that meets your needs and you’re sure to get your money’s worth.
Original Source: http://timbertownaustin.com/real-estate/how-much-could-a-deck-add-to-your-property-value
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