How much value does a composite deck add? Decks are a great addition to any […]
How much value does a composite deck add? Decks are a great addition to any house. Many have used their decks as a place to gather and socialize. It’s also a perfect setting to host parties and social gatherings. Even if you don’t plan on doing any, a deck is still an excellent place to kick back and relax. Because of this, more and more people are building decks on their yards. People who are looking to buy homes also consider getting houses with decks and patios.
You may be one of the many people who are considering building a deck. But like any other smart homeowners, you are thinking about the long-term. So the question; can a patio increase the value of your property? If so, by how much? Is it worth building a deck? Here are the answers to these questions.
Can a Deck Increase the Value of Your Property?
Yes, building a deck can increase the value of your property. First, it increases the curb appeal of your property. For potential buyers, they will be looking for a house with a suitable outdoor living space. So presenting a deck will significantly boost prospective buyers’ interests. Of course, they will also consider based on the surrounding properties. So it’s crucial to build a beautiful and elegant deck which can stand out from the rest. So when you are considering increasing the resale value of your house, a deck is a good project for that purpose.
The location also affects whether a deck can increase the value of a property or not. The increase in value is more prominent in areas where outdoor activities are common. So if your property is in a location where people might enjoy the outside time, the value of your home will go up as you build a deck. On the other hand, in places where outdoor lifestyles are unpopular, such as mountainous regions, the added value will be slightly lower.
Of course, resale worth is often the primary reason why people consider whether a deck adds value or not. However, it doesn’t only add resale value, but it also adds enjoyment value and comfort factor. Even if you don’t plan to sell the property, you and your family can enjoy it better. If you do intend to sell it, your enjoyment and comfort in your house will be a good sign that your prospective buyers will too.
How Much Does a Composite Add to The Value?
There is no specific data on how much a deck can increase the value of your home. However, the general rule is that the lower the cost of the deck, the higher the recoup value will be. Many reports state that homeowners recoup around 60% to 80% of the deck construction cost. Other costly renovations and improvements, such as kitchen remodelling, do not recoup as much value as adding a deck.
So if you’re planning to build a deck to increase your property’s home value, make sure to find cost-effective materials and projects. You can even combine deck building with other outdoor projects to potentially increase your home’s resale value. Some of the projects worth looking into are landscaping and building features like fire pits.
Wood Decking Vs Composite Decking?
As previously mentioned, lower-cost projects have higher returns when it comes to resale value. Because of this, many people consider building a wooden deck instead of composite decking. But is a wood deck better than a composite deck when it comes to adding value?
True, wooden decks have higher recoup value than composite decking. For a medium-sized deck made out of composite decking boards, the homes resale value can increase around 60% of the cost-value ratio. On the other hand, wooden decks can increase the value by up to 80% of the cost-value ratio. So at first glance, wooden decks may be the better options.
However, as time passes, you will spend more time, effort, and money maintaining a wooden deck compared to a composite deck. For instance, you will need to stain, paint, and seal a wood deck every few years. On the other hand, composite decking requires less maintenance and does not need staining or sealing. It also lasts longer than most wood decks.
So to sum it all up, wood decks are a great choice for people who will sell the property within a year or two after building. Meanwhile, a composite deck works best if you want a long-lasting deck and won’t be selling the property soon.