Are you considering adding a deck, but you're unsure how much value a deck adds to your property? Learn how decks increase home value and tips to increase return on your deck.
Synonymous with outdoor living, today’s decks are a must-have for any homeowner. As homeowners endured the recent COVID pandemic, fresh air and sunshine became a prized commodity. In geographies with year-round temperate weather, such as Hawaii, California, Texas or Florida, decks have become even more essential.
Perhaps you’ve been contemplating a deck addition, but aren’t sure you’re ready to tackle that project, given time and costs. However, in the realm of projects, especially DIY ones, a deck can add real value to your home. Additionally, it causes less disruption to your home than many interior upgrades. In some areas, decks are even more popular than patios or porches.
As you contemplate your options you may wonder:
· How much value does a deck add to my house?
· How much does a new deck cost?
· Is the investment worth it?
The short answer: yes, it definitely adds value. The longer answer: the value depends on your personal enjoyment, as well as the materials and plans you make for your deck.
The average deck can recoup nearly three-fourths of its cost, depending on materials, labor costs and deck design.
How much value does a deck add? According to the 2021 Cost vs. Value Report from Remodeling magazine, a deck addition is a top 10 outdoor home improvement. A wood deck, which will cost on average about $16,766 will recoup about 68% of its value, and a composite deck, which will cost about $22,426, will recoup about 63% at home sale. In regions where outdoor lifestyles are more year-round, the money recouped from building a new deck is greater than in more frigid climates.
With the cost of lumber increasing and ongoing maintenance with wood, hassle-free composite decking is a popular choice for new decks. Look no further than your local home listings and you'll see multiple listings mention a Trex composite deck. Clearly, realtors and homeowners see value in this backyard amenity. In a recent Zillow search of homes for sale in the greater DC metro area, 25% of the homes listed a Trex deck as a feature.
While wood decks require constant care, Trex decking needs no sanding, staining, or painting. A little soap and water or a quick power washing is all the maintenance composite boards require. Unlike wood, which is prone to rot, Trex, made from 95% recycled materials, is durable and long lasting.
Along with the financial gains of home improvement at the time of sale, there are also personal factors to consider. The National Association of Realtors assigns a “joy” score, from 1 to 10, to various renovations — the higher the score, the more the enjoyment. Decks received a 9.8 out of 10, because:
· 81% of homeowners reported having a greater desire to be home since completing the project
· 74% have an increased sense of enjoyment when they are at home
· 77% feel a major sense of accomplishment when they think of the project.
While a deck will increase your home value, the return on investment (ROI) depends on a few key factors, including location, material, timing and labor costs.
If you live in a warm climate where outdoor lifestyles are popular, it’s likely homebuyers will expect you to have a living space to eat al fresco, grill or lounge by the pool. Even in cooler places, a deck provides an expanded area for entertaining friends and family during late spring, summer and early fall. Additionally, in those colder locales such as North Dakota or Minnesota, homeowners should strongly consider composite decking, which will last much longer than wood.
While there is a small difference in the ROI between a wood and composite deck build, the gap decreases when you consider the cost of staining, sealing and sanding over time. A wood deck has to be sealed frequently to prevent splitting and rotting. The average wood deck begins to deteriorate in as little as eight years. If you pour water on wood deck boards and it doesn’t bead up, you likely need to apply a new layer of sealant. On the other hand, Trex offers a 25-year limited warranty on its composite decking, with no maintenance beyond cleaning.
One of the best ways to cut decking costs is to build the deck yourself. You can save significantly on labor costs if you’re a handy DIYer. You will need to be sure to obtain proper permits and to follow building codes. Following safety guidelines is essential to any building project.
As mentioned above, sometimes a deck is valuable for the quality of life it adds to the homeowner, as well as the financial gains. If you are contemplating selling your home in the near future, you might not want to invest in a lavish deck project. However, if you plan to spend many years in your home, it would be worth putting more thought and amenities into your deck build so you can make the most of this outdoor space for years to come.
If building a deck from scratch is beyond your know-how, find a qualified contractor in your area. Talk through how big you want the deck to be, how it should be oriented with the house and share any ideas from our gallery that are appealing. Your dream deck is just a plan away!