As much as we love our indoor living space, it is wonderful to be able to enjoy our outside “living room” as well. Whether you have a patio, deck or yard, your outdoor area is ideal for relaxing, entertaining, and simply enjoying nature. If you are considering adding or remodeling a deck, there are even more benefits.
Let’s look at how much value a deck adds to a house.
The National Association of REALTORS® (NAR), along with the National Association of Landscape Professionals (NALP) did a 2018 Remodeling Impact Study that reported that adding a new wood deck would recover 80% of the cost of the project when you go to sell your home.
The cost of a deck:
Landscape professionals estimate that a 14’-deep by 18’-wide wood deck would cost about $10,000. REALTORS estimated the cost at around $8,000.
Add to your home's resale value:
The REALTOR ranking put a new wood deck as #5 on the ranking of projects most likely to appeal to buyers, and #5 on the list of projects likely to add value to a home’s resale (preceded by landscape maintenance, landscape upgrades, lawn care service, and a new patio.) It scored much higher than adding an outdoor kitchen or new pool.
Additional Living Space
Although outdoor spaces aren’t counted in the square footage of your home, they offer additional living space where friends and family can gather. The biggest reason to build a wood deck, as cited by the NAR/NALP study, was to add features and improve livability. How much value does a deck add to a house?
Eighty-one percent of those surveyed said they have a greater desire to be home since completing the project.
The second most common reason to build or remodel a deck is to upgrade an existing one. The finishes may be worn, or boards may be warped. Or a homeowner may just decide that they like a different material, finish or design to their deck.
Value of Wooden Decks vs. Composite Decks
A wood deck may add value to a house, but it does require regular maintenance of cleaning, staining and resealing. A composite deck, with boards created from a combination of recycled materials are generally warrantied against warping and fading, and require little to no maintenance up to decades after installation. They do need to be washed and kept free of mold and mildew.
Building a wooden deck will normally cost less than erecting one made of a composite material which can cost 2-3 times more to build. It also has a higher cost vs. value ratio.
The more expensive the deck, the less of the cost is recovered when you sell your home. On the other hand, with the reduced maintenance, a composite deck can recoup its cost over time.
Want to Know How Much Value a Deck Can Add to Your House?
Contact Petrine Construction.
As builders of custom and luxury homes, Petrine Construction can answer your questions about building or remodeling a deck, and what value it can add to your house. We’d love to transform your outdoor living space with a new deck as well!
If you’re in the Northern Shenandoah Valley area, contact Petrine Construction today.