You can rest easy knowing that your patio looks great and will give you a solid ROI by adding value to your home. If you decide to add one of these to your home, deeply consider the amount of space needed. So how much is a deck worth? My name is Justin Childress and I'm the creator of Sunshineandplay.com As a family of three, my wife, son, and I love spending time together, especially outdoors. He is a member of the board of the National Association of Real Estate Editors and writes for several leading Web sites, including Inman News. Wooden decks cost less that those made of composite material and also had a higher cost vs. value ratio. Outdoor kitchens are popular additions, and most experts estimate that homeowners with kitchens in their outdoor living… It seems that the more expensive and extravagant you get with your patio construction, the lower your ROI goes. If they’re built with patios, a deck may look strange and out of place. Return on Investment of an Outdoor Patio Six Cities COVID-19 is Making More Affordable to Buy a Home. Since only one of the two studies found that decks pay for themselves when the house is sold, it’s unlikely many homeowners will add a deck purely for financial reasons. We are compensated for referring traffic and business to Amazon and other companies linked to on this site. On average, a 16’ x 20’ deck addition will cost $14,000. Decks average between 65% and 85% ROI (return on investment), whereas patios average between 40% and 65%. The NAR study assigned a “joy score” to each project. Meaning the addition looks “too new.” This typically happens with DIY deck or patio projects. Ideally, you can choose one that will add the most value to your home while providing you and your family with an excellent outdoor space. However, there are a ton of different factors determining both deck and patio value, including materials, size, maintenance, style, and features. He can likely estimate how much of an increase you'll see in your bill before you break ground on the project. Luckily, patios are pretty easy to maintain, only requiring basic cleaning every year and re-staining every 2 to 4 years, depending on the material. Build a Deck (or a Patio) Adding a whole deck is pricey, but it also effectively adds a whole outdoor … More than half of surveyed buyers said that they would be willing to pay a premium for a house with a patio. A patio, on the other hand, will cost somewhere between $4,000 and $8,000, depending on size and specific materials used. Higher-grade materials may also be a good idea, as they tend to extend the life of the patio … Find out how much value a deck might add and the types that add the most value. The more unique and inviting your patio is, the more money it is going to fetch. I’ve been looking into building a deck for years now, my backyard screams for one, and I’m glad to hear that it helps add value of the home. This isn’t just important for increasing the value of your home, but also for your enjoyment. Although outdoor spaces aren’t counted in the square footage of your … In that case, a deck can be incorporated into a patio, but cannot be replaced by a patio … The way a deck is built allows you more creativity in location. How long you have the patio before you sell it will also determine the return on investment. As mentioned briefly above, your location will play a part in determining the return on investment for a patio. Let’s take a look at how a property appraiser determines your deck value. You can save money by … So the final question is, can every deck be replaced with a patio? A safe gauge for a deck or backyard improvement is about 50% — … While both options, when done right, will add value to your home, not all homeowners should decide on that factor alone. The more expensive the deck, the lower the cost vs. value ratio or percentage of cost recovered at the sale. And it’s easy to see why. If you love the great outdoors, add a dedicated space to enjoy it! From 1999 to 2007 he was vice president for public affairs at the National Association of Realtors. Decks didn’t do fair as well in the Remodeling magazine report. A dining area, dry laid patio, a patch of gravel, a covered patio or an above-grade deck: According to SmartMoney.com, a landscaped patio raises the value of your home by 12.4 percent. Moreover, adding patio covers in Phoenix for a complete project can enhance your home’s beauty and increase its value. Porches and Decks. It’s also a good idea to look at your neighbors’ decks (legally, of course; don’t go snooping around in the dark). Increasing the amount of usable space in a home always equates to adding more value. Especially a stamped concrete patio. No matter how you look at the numbers, decks provide more value than patios. On average, a deck which cost $10,347 to build added $8,835 to the value of the home when it was sold [source: Remodeling]. 3. 7 /13. The average cost of adding a deck is around $7,500.But some decks can cost far less – and far more. If you plan on living in your home for many more years, it’s probably best to decide what you and your family would enjoy. Deck ROIs are also subject to climate and neighborhood factors. Some 51% have an increased sense of enjoyment when they are at home, and 77% feel a major sense of accomplishment when they think of the project. In most places, patios don’t require the same amount of safety and scrutiny, since they sit directly on the ground. This site is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. How to Increase Home Value With a Deck. • Installation is also a big benefit for choosing a deck. Plus, the ultimate value of any given home improvement project will be determined in part by the housing market and the area in which you live. 3. A deck provides more outdoor living space, but does it actually increase the value of your house? This is for a 16’ x 20’ deck with pressure-treated wood. © 2020 Kutak - WordPress Theme by APALODI. Can Adding a Pool Increase Your Home Value? Whey asked about decks, homeowners said: The most important result for homeowners was to have better function and livability. This means that tree roots, wet ground, even big slopes can be easily overcome without adding … Here’s what we tell our customers: yes, a pergola will add market value to any house. “The average ROI of professional deck construction is 73%. Sometimes, brand new patios or decks create an unwanted contrast between your home and the new construction. Backyard decks have replaced patios and front porches as the social centers of suburbia in the summer. Estimated construction cost estimated was $9,450, and the estimated value that a new deck adds to the house value at the sale was $10,000. Your email address will not be published. According to Remodeling’s 2020 home improvement study, wooden decks provided an average ROI of 72%. Outdoor living spaces do best in places with somewhat mild weather all year round. You've only seen one page. For 2020, their report of the top home remodeling projects didn’t include patios, presumably because their ROI has dropped below 50%. Even a basic concrete slab can be stained to look great. A deck provides more outdoor living space, but does it actually increase the value of your house? Decks average between 65% and 85% ROI (return on investment), whereas patios average between 40% and 65%. If you are thinking about adding a deck, will it pay for itself when you sell, adding more value than the cost of construction? 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