Selling a home is a challenging process. Understandably, you want to see as much return on your property investment as possible. This may be why you may be choosing to sell your home independently rather than pay high realtor fees. That said, when you’re using the multiple listing service (MLS) you’ll also want to ensure that your property is likely to catch the eye of prospective buyers.
One of the ways you can affect both of these elements is to make certain the home you’re selling has in-demand features. A deck continues to be among the most effective elements in this regard. With the right kind of deck presented effectively in your listing, there is a chance to both gain buyer attention and push your profits.
A deck is a significant investment, though. So, just how much does a deck add to home value? Let’s take a closer look at the subject.
What Percentage is Possible?
When considering how much a deck adds to your home value, it’s important to understand that there’s no set amount. That said, in general you might see between a 63% and 66% recoupment of the cost of your deck in the value of your property. This is why decks are so often considered among the most important upgrades for any home.
This isn’t, of course, to say that you’re guaranteed to see that amount back on your property value. There are various factors that can contribute to whether a deck adds value and how much value is added. In some circumstances you may well see more than a 68% return, in others you could experience substantially less.
As with all investments, it is a risk. Therefore, you need to take a solid risk management approach to decide whether or not to add a deck to your home. The most effective strategies begin with gaining some knowledge on the subject so you can make a more informed choice.
Why Might a Deck Add Value?
Before investing in a deck, it’s worth getting to know not just how much value a deck adds to a home but also why this might be the case. After all, in some situations, a deck may not meet the conditions to make much of a difference to your home price. Not to mention that understanding the characteristics that bolster value can allow you to lean further into these aspects when designing and installing a deck. Some of the reasons a deck might add value include:
Additional living area
Perhaps the most important reason a deck might add value to a property is because it can represent a tangible additional living area. In most cases, this doesn’t necessarily equate to additional square footage that you can include in your MLS questionnaire or realtor listing. Nevertheless, potential buyers may recognize that some decks essentially create an additional functional space. This is particularly relevant in areas like Florida with warm weather for the majority of the year. This is also why small or slim decks don’t tend to add much if any value to a property. Buyers need to be able to see that they’re able to use the deck in a meaningful way. This includes potential for gatherings, relaxation, and appropriate furniture.
Another reason a deck may add value to a property is because it can make the home more aesthetically attractive. In some instances, this is as simple as adding a transitional area between the building and the yard space. Such elements are generally considered more attractive because they provide a more dynamic appearance to the property. Not to mention that some deck designs can offer architectural flare to the property with intricate floor paneling and ornately carved railings.
Aside from the tangible benefits a deck can provide to a property, buyers may also consider a home more valuable due to the lifestyle benefits the asset can offer. The presence of a well-designed deck can spark the imaginations of potential owners as to what this can represent to the type of experience they’ll have in the property. They might see it for its potential to provide a safe outdoor play area for their young children. They could consider its potential to host summer cook-outs or family celebrations. Even the prospect of a deck as a quiet oasis to relax in after the chaos of work can be effective.
What Types of Deck are Most Valuable?
While not all decks will offer value to a home, some can be instrumental in pushing even the average percentage return of a deck even further. The features a deck has to offer are important considerations, particularly if one of your primary motivations for installation is to boost the listing price now or in the future. Some of the most valuable types of deck can include:
The material of the deck can make a difference to the recoupment you’re likely to see later down the line. Wooden decks tend to see the most return value. This is usually for aesthetic reasons, as wood blends into the natural surroundings of a yard. Not to mention that this material provides an element of traditional architectural style to a property.
There are, of course, exceptions to this. For buyers looking for a largely practical form of deck, the more durable composite materials can be preferable. Not to mention that if a wooden deck is old and has evidence of rot or heavy wear, this will affect its value. It is, therefore, important to remember that wooden decks only add the most value when they’re well protected and maintained.
Covered decks are among the most valuable forms that you can add to your property. This is primarily because a cover extends the potential for usage throughout the year. Buyers can see that they and their families are able to still utilize the deck on days when it may be raining. Not to mention that the cover provides effective shelter from direct sunlight on the hottest days of the year, sustaining their comfort.
That said, in some instances, a static covering for a deck may not always be the most valuable option. It can be more effective to have a deck with a retractable solid roof or awning. This gives homeowners the opportunity to remove the covering to make the most of the natural light and extend it only when shade or shelter is strictly required.
Accessibility is increasingly important in residential properties today, Therefore, having a deck that those experiencing mobility challenges can utilize may add more value to the property. This could include having a ramp instead of stairs on a raised deck area. It might involve having non-slip coating or strips on all foot-fall surfaces. Even ensuring that there are solid handrails along the perimeter of the deck area and on any stairs or ramps is likely to boost its practicality and therefore its value. Minimizing the clearance area between the lowest part of the deck and the building’s entryways is also vital.
In the right circumstances, a deck could see you add value to your property in the region of 63% to 68% of the cost of the deck. However, it’s important to recognize that not all decks are created equal, with a range of factors contributing to what you’re likely to gain. The size, functionality, and aesthetic appeal of this asset all come into play. It’s also important to consider how elements like materials and accessibility could boost or reduce the value it offers. While a deck is by no means a quick fix for bigger profits, with a well-considered approach it can help make for a more attractive and valuable property you can present to potential buyers.
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