Home modifications are not just for improvement or preference, but it can also affect the value of a property. It can either add or decrease cost depending on what you added. In some cases, it won’t affect the value at all. It applies to every part of the property, whether it’s the garden, the house, or the driveway.
Patios, decks, and outdoor settings are some of the things that people often add to their homes. If you have a property, you may have considered adding them. But the question is, will it raise the value of the property?
Do Decks and Patios Increase Value?
There are no definite statistics on how much a deck affects house value. However, many agree that adding any form of outdoor space increases the cost of the property, including patios and decks. Why?
Imagine yourself as a buyer. You see a house with a nice outdoor space, complete with a patio, some furniture, and a beautifully landscaped garden. Would you buy this house? Almost anyone will agree that it’s the perfect picture of a cosy home.
Another good reason to consider adding a deck is the cost. Of course, most improvement will cost a lot of money, and decking construction is not an exception. However, building a patio is significantly cheaper than, say, adding or completely remodelling a room.
What Construction Materials to Use
Adding a deck does increase the value of your home. However, how much depends on a lot of factors. One of the most crucial factors is the material used in building the deck.
Decks usually come into three different types; wood, composites, and PVC. There are varying data on how much these materials increase the property value.
To understand better, you’ll have to look at the construction cost vs added resale value. Since wooden decking materials are significantly cheaper, newer, and high-quality wood decks can increase the value of your home. Because of the low construction cost, building one is worth it.
Like wood, decks made with composite decking materials. Initial costs for these patios are more expensive than wooden decks. However, they can last twice as long as wooden counterparts.
On the other hand, expensive PVC or plastic decking tends to add less value to your home. Because of the high construction cost, the added resale value is quite low compared to the first two materials.
Other Things to Consider
Aside from what materials you used to build the decks, other factors can either add or decrease the resale value of your home. Here are some things that you should consider when you’re planning to build a deck for your garden.
- Location – Location is an important factor when deciding to build a deck. Why? For places where the temperature is hot, PVC and some composite decking materials may not be the best to use. In these hot conditions, these materials can warm up fast, making them undesirable for homeowners and prospective buyers. On the other hand, in areas where it’s usually cloudy or rainy, these decks do wonder. It’s because they are resistant to water and moisture damage.
- How long will you be staying – Another thing that you should take into consideration is how long would you be staying in your current home. If you’re planning to move and resell the house in a decade or two, you should consider using composite decking materials. As previously mentioned, they can last for at least 25 years. It means by the time you’ll be moving out, the deck will still be intact. On the other hand, if you’ll be selling the house soon, a wooden deck may be better for you.
- Deck Furniture – After building a composite deck, consider decorating it with the furniture. If you’re selling the house, it can score some points during visits and tours from prospective buyers. Some of the things you can add to your deck are cushions, shades such as umbrellas, lighting, and table and chairs.