Wood decks are a smart option for homeowners looking to sell their home right away once the renovation project is complete. Even when maintained and treated regularly this material cannot stand up to the snow laden winters of the region. Homeowners in northern states like North Dakota or Minnesota should stay away from wood decks. Thus, wood decks require regular maintenance and upkeep in order to retain their quality and their value for your home resale. However, wood decks are not as resilient to the impacts of weather and temperature as composite decks are. The more affordable material translates to a more affordable deck project while boosting the resale value of your home to a similar amount compared to a composite deck. In terms of pure home resale value, wood decks provide the best return on your investment. The two most common deck materials in the United States are wood and composite decking. The most important factor in determining the cost recuperation of your deck remodeling project is the deck material you decide to use. How Home Resale Values Compare Based on Deck Material Obtain the proper permits and build a DIY deck to minimize your deck building cost and maximize your return. However, if you eliminate the labor costs from your budget you can earn significantly more than your investment when you put your home on the market. Some studies estimate that completing a new deck will only recoup a percentage of the cost. In areas that experience long winters the impact on your home’s resale value won’t be as substantial. Home buyers are willing to spend more on a home with a deck in a geographical area that experiences warm, deck-friendly weather year-round. How a deck impacts your home resale value will be largely based on the region where you live. Value Report found in 2007 that adding a wooden deck is the most cost-effective home improvement project for a mid-range home. The 2016 version of this report found that the recoup rate was as high as 106%. While many home renovation projects only recoup anywhere from 50% to 80% of their cost, multiple studies have estimated that the ROI for patios and decks can exceed 100% based on the size and materials used.Īccording to the 2018 Remodeling Impact Report from the National Association of Realtors patios can recover 102% of their building costs on average. Yacht Club Highback 7-Piece Dining Setĭeck Improvements Can Recoup 100% of Their Cost With a few considerations you can vastly improve your ability to relax outside in your home and improve the resale value if you decide to move. However, this isn’t money down the drain. One of the most appealing home renovation projects is adding a brand new deck or improving an aging deck to provide the perfect setting for an afternoon barbecue or an evening of relaxation with the family.ĭid you also know that, with a few caveats, building a deck could boost your home’s resale value too? Enter the market with confidence after putting the finishing touches on your new deck.Īdding a deck to your home comes with a price tag - the average deck cost of a new wooden deck is approximately $10,000, while the deck building cost of a new composite deck is around $17,000. Many home renovation projects can seem daunting, like adding a new bathroom or remodeling your kitchen.
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