Do Decks Increase Home Value?
Trex Deck with Transcend Handrails
If we are to set aside the personal benefits of having a new deck installed at your home may provide and lean towards the overall return of investment of a deck we can assume that yes; a new deck will increase the overall value of your home, but there are many attributing factors just like any home improvement.
Property Location – If your home is in a bad neighborhood with low property values, putting a new Trex deck will give you a much smaller return than if you were building perhaps in a higher property value sub-division. Of course low income home buyers or home buyers that are seeking homes with low property value will appreciate a new deck, your return of investment will be lower. You must consider the target market of who will be buying your home if you intend to sell and where your local market is heading. It is safe to say, however that if you have a well maintained home, in a well maintained area or neighborhood in a well performing market, your ROI of a deck (especially a TREX or Composite deck) will provide you a larger return than your initial investment.
Pressure Treated – Pressure treated decks have a lower return on investment, the overall average return is over 85% of the costs, which means a $10,000 deck will add about $8,500 to the value of your home when it is made out of a pressure treated material. This is a good return believe it or not, as long as you’re not planning to add the deck right before you sell the home as a stand-a-lone upgrade to increase the overall listing price. Even a new pressure treated deck, in conjunction with other improvements, you will see a better ROI.
What Is The Function? – If the deck is adding function to the property, let ‘s say a second story balcony overlooking a beautiful valley, a pool deck, floating trex deck through a garden, or a front entryway, you will have a much better return than if you were to simply add a small deck to the front of your home. Though you must consider curb appeal as well. We are real estate investors so I am able to provide you with some educated information here and in the end my answer to you is this; it depends on many things. Give me a call or send me an email and I can try to let you know more specifically if it is a good idea for you to add value with a new deck.