Thinking of your home’s value might cause you to think only of what’s on the inside. However, the entire property contributes to your overall home value, and it is not to be ignored. So, do decks increase home value?
Considering the return on investment, adding or remodeling your deck can boost your home’s value.
According to the 2020 Cost vs. Value Report from Remodeling, you can recoup nearly three-quarters of the cost when you have a new wood deck addition. That value is comparable to a composite deck addition, which recoups roughly two-thirds of the cost of installation.
Not included in the average costs for deck additions is the cost of upkeep, but your new deck addition still ranks higher than other home remodeling projects. For instance, both a major kitchen remodel and a bathroom remodel will recoup just over half of the costs. Adding a deck might seem like an overwhelming project, but it could be worth it in the end.
While remodeling the kitchen or bathroom can update a lot of features, they won’t add any square footage to your home. If you wanted to expand either of those areas, you could spend tens of thousands of dollars toward the cost of remodel. Conversely, adding roughly the same amount of square footage, but as a deck outdoors, would cost significantly less.
Many prospective homebuyers today will be first-time homebuyers. One thing that a lot of these new homebuyers are looking for is that outdoor deck. This means that if you are putting your home on the market and are looking to aim toward most homebuyers, adding a deck might help you sell your home faster.
Building a new deck or sunroom is not just building for now, but also building for the future. At Precision Decks and Sunrooms, all of our projects bring the strength and durability that you would expect with a fresh addition. For more information on how you can increase your home’s value, call Precision Decks and Sunrooms today at 616-874-2300. As a premier remodeling company, it is our duty to provide the customer with their dream construction.