When it comes to your home, there is a never-ending list of things that you can do to improve it. Some people love home improvements, and if you do, you may find yourself constantly looking for ways to improve your home and add value to it. One of the most common ways to do this is to add a deck.
There is no denying that a deck can completely transform your backyard. It can allow you to utilize land that you have never been able to use before, and it can also give you more space to enjoy. But, does adding a deck to your garden add value to your home?
In this handy guide, we’ll be taking a look at whether, or not, adding a deck to your home increases its value, and if this has a direct impact on its resale value. So, let’s dive in.
Absolutely! Yes, a deck does add value to a home. There are lots of home improvements that you can complete to increase the value of your home, and adding a deck is one of the best.
Just like many home improvements, adding a deck to your yard isn’t cheap (unless you are very handy and able to do it yourself), but there’s no doubt that you will make that money back in terms of the value it adds to your home.
But, adding value to your home isn’t the only good thing about a deck. Adding a deck is also great because it can also make your home a lot better.
Suddenly, you will be able to use areas of your garden that you have never been able to use before, and it makes the perfect area for hosting summer parties and barbecues. So, adding a deck to your home definitely increases the value. But, by how much? Let’s take a look.
How much Value does a Deck add to your Home?
As we have said, decks are often very expensive. Depending on your area, the cost of materials, and the cost of labor, you could find yourself spending more than $13,000 for a standard wooden deck.
There is no denying that this is a lot of money, and this is why a deck is one of the many home improvements that you really need to consider before you invest.
If you have bought a new home, this might be one of the projects that you spend a couple of years saving for, simply because it is such a big upfront cost. But how much value does it add to your home exactly?
When you add a deck to your home, the value can be measured in terms of resale value. Just like all things, the value will decrease over time as the deck ages. So, when it comes to resale value, you are unlikely to recoup the exact amount of money that you spent on your deck.
But, in terms of home improvements, decking is one of the best additions in terms of retaining value at resale. If you spend around $13,000 on a deck, you should expect it to add around $10,000 to the resale value of your home. So, it is clear that this is a home improvement that pays off.
Is adding a Deck a good Investment?
Yes, a deck absolutely is a good investment. They will depreciate over time, but decks hold their value a lot better than most other home improvements. In terms of return on investment, most home improvements will only recoup around 50-80% of their value on resale.
These home improvements include things such as kitchen and bathroom renovations, lighting improvements and curb appeal improvements (such as rendering your home, or adding a driveway to the front garden).
But, decks tend to exceed 80% return on investment, in fact, sometimes you can recoup 100% of the money that you spent on your deck when it comes to selling your home. Sometimes, you might even be able to make money on your deck when it comes to selling your home.
Of course, the amount of money that you will make on your deck completely depends on the amount that you spent on it in the first place, its age, and the materials used to build it.
Things such as quality will also have an influence on the money that your deck will recoup on resale. But, no matter what way you look at it, there’s no denying that a deck is a good investment.
What adds more Value to a Home, a Deck or Patio?
If you are looking to add a deck to your home simply to add more value, you might be debating whether you should opt for a deck or a patio. This is a valid thing to consider, as both patios and decks have their benefits and drawbacks.
Decks and patios are both very different from one another, and, of course, your personal preferences will influence which is the best for you. But, let’s take a look at this purely from a value perspective.
In terms of value, a patio is the better option. Adding a patio to your garden is significantly cheaper than a deck, in terms of both labor and materials, so you will be spending less money in the first place.
You might expect this lower price to mean that a patio adds less value to your home than a deck, but this isn’t actually the case. The original upfront cost is lower, but the value of a patio depreciates slower than that of a deck. So, in the long run, you will get more money for a patio at resale, than you would for a deck.
Summary
In short, yes, a deck does add value to your home. In fact, this is one of the best home improvements that you can add to your home in terms of resale value. So, if you are looking to improve your garden, or simply want to increase the resale value of your home, adding a deck is a great choice.
