When homeowners make the momentous decision to renovate their backyard, there are many factors to consider when choosing a project and budget. Recently, Bob Vila posted the most valuable projects of 2022, the outdoor features edition. Decks, patios, and shade structures all made the list.
Deck Additions and Replacements
Deck additions are at the top of the list for valuable backyard projects. They provide an average return on investment of 62-65%, depending on size, materials, and accessories.
Whether you are building a deck for your own enjoyment, the resale benefits, or both, is an important motivation to discuss with your deck builder. How long you plan to live in the house, when you plan to sell, your immediate needs, and your long-term needs will likely impact how it is designed and the materials, size, and accessories you prioritize.
Wood or Composite Decking?
There are many factors that affect the potential return on investment of your deck project. Size, shape, and materials are three of the most significant. While your functional needs, home architecture, and property size impact the size and shape of your deck, material choices are more ambiguous. For example, synthetic or composite decking has a higher upfront cost to build compared with pressure-treated wood. However, it offers a longer-lasting product and little to no maintenance cost.
With regard to resale, the return on investment can be slightly lower for composite decking than for natural wood due to the higher up-front costs, which may not be recouped before selling. Choosing synthetic decking becomes a much clearer choice for those who plan to live in their homes long-term. When lumber prices are high and the difference between the two costs is more comparable, the return-on-investment increases for composite materials.
Invest in Re-Decking or a Deck Replacement
Building a new deck is not the only project that will increase the value of your home. Replacing an old worn-out deck with an all-new deck or re-decking can be a smart move. Not only will you get to enjoy the revitalized structure, but it will add to your value for resale. If a substructure is sound and up to code, re-decking can be a cost-effective way to renovate for less.
Whether you are considering investing in an outdoor living project for your own enjoyment or for the resale of your home, Archadeck can help you meet your goals. Call us today to schedule a design consultation and get started: 919-973-1523. We'll ensure the project and materials you choose will meet your short and long-term goals for the space. We look forward to working with you!