Here at Archadeck of West Central & Southwest Ohio, we are often asked by our prospective clients during their free in-person, no obligation outdoor living design consultation is “Will my deck or patio addition add value to my home?”
My team and I are happy to report that the answer is “Yes” and “Yes.”
As the Dayton area’s patios and hardscapes leader, Archadeck best practices since 1980 have proven that the true value of a new deck or patio is two-fold – monetary and emotional.
HOW MUCH MONETARY VALUE WILL MY DECK OR PATIO ADDITION ADD TO MY HOME?
Okay. Let’s talk money first. You know the saying … “Money talks …”
While many home improvement and addition projects only recoup anywhere from 50% to 80% of their cost, several studies have estimated that the ROI (return on investment) for patios and decks can exceed 100% based on the size of the new outdoor living space and materials used. (1)
According to the 2018 Remodeling Impact Report from the National Association of Realtors, patios can recoup 102% of their original building costs on average. The earlier 2016 version of this report found that the recoup rate was as high as 106%. (1)
Going back a little further, Remodeling Magazine’s annual Cost Vs. Value Report found in 2007 that adding a wooden deck is the most cost-effective home improvement project for a mid-range home.(1)
WHAT’S THE BEST CHOICE FOR ROI – PRESSURE TREATED WOOD OR COMPOSITE?
Based on our years of experience in the outdoor living category, this Dayton Custom deck builder knows that wood returns the greatest financial dividend over synthetic, sustainable decking material.
The more affordable wood decking material translates to a less expensive deck project while boosting the resale value of your home to a similar amount compared to a composite deck.
According to another Remodeling Magazine's Cost vs. Value Report, a wood deck carries an average return on investment of 78.6%, while a composite deck carries an average ROI of 66.4%.
That being said, wood decks don’t offer the ease of care and virtual zero maintenance as compared to composite synthetic decks. So, if you entertain often and simply want to refresh the surface of your deck with a quick spritz of a garden hose, or if you never want to have to stain or re-stain your deck, a composite decking foundation may be the way to go.
And the initial cost of a composite deck tends to be slightly higher than that of a traditional pressure-treated wood deck. This is due to the time and expense of manufacturing the blend of synthetic materials that give composite decking its special properties and longer life.
As you can see, rates of return depend on several factors, including choice of deck building materials, wear and tear over time on the space and geographic location.(2)
DO PATIOS ADD VALUE TO MY HOME SHOULD I DECIDE TO SELL?
The good news for money-conscious homeowners is that when price shopping, you’ll find that outdoor patios are usually cheaper to install than a deck, and yet they often deliver a 100% resale value.(3) So, logic suggests that it is reasonable to expect that you'll recoup your investment.
Another industry barometer reports that well-designed patios not only add 8-10% home value, but they also earn an ROI of well over 80%.(4)
As for patio materials, should you be thinking about poured/stamped concrete vs. the installation of pavers for your patio, the latter offers extreme durability, minimal maintenance and, again, added value to homes. And there is a wealth of paver shapes, colors and textures to choose from for visual interest and beauty.
According to Inman Real Estate News for Realtors and Brokers, when professionally designed and installed, patio additions can deliver a return on investment of anywhere between 30% to 60% to homeowners.
WHEN IT COMES TO BUILDING MEMORIES, MONEY ISN’T EVERYTHING
Putting a value on the personal enjoyment of your new deck or patio is virtually impossible in terms of money. It’s such an individual dynamic.
It’s the long-term emotional capital of cherished memories built over time with family and friends that money simply can’t buy. For example, a child’s first steps on your new deck, as the toddler touches the deck bench seat for support. Priceless.
Memories of that special outdoor birthday party when gentle breezes kept on blowing out the birthday candles before the guest of honor ever had a chance to. Or, that joyous, alfresco wedding anniversary celebration after dusk surrounded by festive outdoor lights, surrounded by friends and family. Timeless and never forgotten.
Your new deck or patio will become a platform for future memories to be made, captured lovingly on video or in still photos, that are cached into your memory as well. Birthday parties. Graduation celebrations. July 4th backyard fireworks displays. All precious moments that stay with us for a lifetime.
AN OUTDOOR LIVING DECK AND PATIO INVESTMENT YOU CAN BANK ON
Our Dayton deck builder team looks forward to hearing from you to explore deck and patio living ideas, functional design concepts and material choices. And the best news is that you don’t have to wait a second longer to start that initial conversation. Just click right here.
Tim Stephen, owner Archadeck of West Central & Southwest Ohio.