Are Decks a Good Investment?
Homeowners today are extremely savvy and seek to do the best for their homes. More often than not the first question asked when considering a home improvement project is “Will this raise the property value of my house?” The answer more often than not will be yes. Compared to other home improvement projects, adding a custom deck to your outdoor living space will have a positive effect to your property value that would make it a worthwhile investment in your home. Although there is consensus that a custom deck is a good investment the return on the deck construction costs vary from one study to another. The increase in property value ranges from 70% to 107% of the deck construction costs. The variance will typically be caused by the diversity in markets and the range of building materials that are available. Sometimes the quality of the construction can come into play as not all deck builders are the same but since most municipalities have strict building code that extend to exterior custom decks, the deck contractors will not have a lot of room to cut corners.
Now that the debate that decks are sound investments is settled, here are some other factors that the homeowner should consider when taking on a project like this. First is the overall size of the deck. Over building is a mistake that many homeowners can make when adding a new outdoor living space onto their home. Go big or go home is sometimes not a good thing. The size of the yard compared to the size of the deck should be considered when you are planning the project. All deck and minimal yard can sometimes work against you. Your deck contractor should be able to assess the space and suggest what options you can consider in order to maintain the proper balance between deck and yard. That last aspect that the homeowner should consider is the materials that you will use to build your new custom deck. Pressure treated pine, composite (Trex), and exotic hardwoods are all great options but will vary in cost. The deck builder will be able to walk you through the choices and help you decide the best option for your outdoor living space. These materials are all great options but will all have a different impact to the return on investment factor. The deck contractor will be able to discuss all of the options that are offered, their strengths and weaknesses and help you to decide what will work best for your taste and budget. The last thing that you should consider will be the deck accents that you would want to add. Everything from deck lighting to fire pits, outdoor kitchens and covered sitting are all great choices. All of which will have a similar impact to the overall value of the project. The deck builder will discuss what value they bring and how they will impact the final cost.