Creating a budget is a vital part of planning for your new outdoor living space. Before you contact a builder, you’ll need to have a sense of what you want to spend. It is important for you to share your target budget with your potential builder to get the best advice and service possible.
At Archadeck of Raleigh-Durham, we always ask for the budget during our first phone call, so we can help you to assess the scale and feasibility of your project. It is easy to have dreams of an expansive deck or porch with all the bells and whistles; however, affording all of these amenities may be unrealistic. There are many factors that go into a project’s price, such as size, choice of material, design features, and complexity of construction. As a custom design-and-build company, our goal is always to help you achieve as many of your design goals and dreams as possible, within your budget.
When planning your budget for a new deck or another outdoor living project, here are some useful questions to consider:
- Why are you adding a deck or porch to your home? Your plans for selling or staying in your home long-term should influence your choices in budget size and design priorities. A project that is primarily for your enjoyment is mostly about your wish list, but if you are selling within a few years, you’ll want to consider what buyers would want, as well as what is a smart investment.
- How does your project compare to other projects and home values in your neighborhood? Are you creating a new outdoor living space that is similar to or very different from your neighbors? You may choose to create something similar to stay close in value and appeal. Or, you may choose to do something different to generate additional value or appeal. This may be particularly important to you if you are considering selling your house within the next few years.
- What are your priorities? Consider the size, shape, materials, and accessories you wish to have for your new space. Make a list of the components that are most important to you. Distinguish between your wants and needs to make budgetary scope adjustment an easier task.
- What materials interest you? Did you know that materials such as decking boards, posts, concrete, and railings will account for 35-65% of your budget? Some materials, such as composite decking and exotic hardwoods, are typically higher in cost but may have greater longevity as well. For example, read about the benefits of composite decking if you are considering investing in composite decking.
- Can you set aside up to 10% of your budget for contingencies? At Archadeck of Raleigh-Durham, we provide you the most accurate price possible for your proposal and contract. However, once construction begins, it is possible for us to discover hidden issues underground or within your home’s current structure that can create an additional cost to address. It is beneficial to plan ahead for such a contingency, particularly if your budget is fixed.
- Does your budget prepare for the costs of ownership over time? If you’re building a pressure-treated wooden deck, you’ll need to set aside an annual budget for maintenance, staining, sealing, or painting. Also, sometimes home additions and backyard renovations can add enough value to your home that they increase your property tax or homeowners’ insurance. Be sure to contact your insurance company to update your policy and see if you require increased coverage.
When planning for your new dream deck or porch, the budget is an important component of your plan. If you are not sure what the specific budget needs to be for the project you desire, we would be happy to meet with you and show you our portfolio to give you some ideas. You may be surprised at what elements drive up costs or simplify them. As part of the design process, we will help you bring together your list of priorities and budget to create the space that is right for you. Give Archadeck of Raleigh-Durham and the Greater Triangle a call today to get started: (919) 446-5585. We look forward to working with you!