Deck ROI Facts
Want to increase the value of your home? Build a deck! According to Remodeling Magazine’s Cost vs. Value Report, you can get back as much as 80% of the cost of a deck back when you sell your home. The average ROI of a deck is 60%-70%, however there are many factors that can affect these numbers. Let’s see how adding a deck can increase the value of your home and affect the return on your investment.
Factors to Consider
When trying to increase the ROI of your deck, size, location, materials, style, and labor are some of the main components you want to consider. When thinking about these components and the overall project, you should be asking yourself ‘What is the purpose of this project?’. Is this a short-term investment to increase the resale value of your home? Or a long-term investment for you and your family to enjoy? The purpose of your deck project will have an impact on the factors we’ll discuss below and the overall ROI of your project.
1. Size
The size of your deck has a significant effect on its value. You will have to spend more money on materials and labor if you want a bigger deck. However, if your deck is too small, it may not be worth as much because it may not be a functional outdoor asset in the eyes of the buyer of your home. You also want to make sure the size of your deck fits the scale of your home.
|
Size |
Average Cost Range |
|
10×10 |
$3,000 to $6,000 |
|
12×12 |
$4,300 to $8,600 |
|
14×20 |
$8,400 to $17,000 |
|
20×20 |
$12,000 to $24,000 |
2. Location
Another critical element in a deck’s value is its location relative to your home. For example, an attached platform deck that is accessible from the main living area of your house is going to give you a higher ROI than one that is harder to get to. Outdoor living space is a growing trend and adds value to homes, but only if it is accessible and well positioned on the house and property.
3. Materials
Materials used for building a deck can include railing, lighting, fasteners, and of course, the decking itself. When selecting deck material, you’ll want to ask yourself “How long do I plan on enjoying this deck?” If you’re adding a deck because you are planning on putting your house on the market in the next year or two, you may want to consider wood or pressure-treated lumber since you will not be the person maintaining it. When the buyer sees a new deck that is pristine condition and hasn’t weathered yet, you might get up to 70% on your return! Although wood decks are cheaper up front, it is recommended that they are re-sanded and stained or sealed at least once a year to prevent wood rot, splintering, and discoloration. This typically costs about $500 to $1,200, not to mention, your time. If you plan on enjoying your deck for a long time, you may want to consider composite decking as a low maintenance option. The initial cost will be higher, but the cost of maintenance will be so low, you will end up saving money and time in the long run!
4. Style
There are also many different deck styles. Labor costs vary based on the style and layout you choose, but the more your deck enhances the beauty of your home, the higher the ROI. Here is a comparison of different deck styles:
Attached Platform Deck ($)
A platform deck is a deck that sits at ground level but is still attached to your house. This is a great option for a home that has a first floor at ground level. This is also the cheapest option because it does not require stairs, posts, or railings, and it could possibly be a DIY project for someone with experience.
Raised Deck ($$)
This is the style that sits just a few feet off the ground, with railings and stairs. It’s a great option for homes with a first level that sits slightly above ground level. This will require more material and labor than a platform deck.
Floating or Detached Deck ($$)
These decks are not attached to a building and can be built anywhere on a property. Since they are not attached to your home, they need more support posts to keep them secure.
Multi-Level Deck ($$$)
A multi-level deck is a series of several separate decks on individual levels that are connected by stairways. These are very expensive because they require more material and labor than standard decks.
5. Labor
Aside from materials, labor is the largest cost of building a deck. Depending on the materials, size, style, and layout of your deck, labor can cost $8-22 per square foot according to Forbes Home Magazine. Working with a contractor can be very expensive but it is worth the investment to know your project is done right. If you are handy and have some remodeling experience, DIYing your deck could be a great way to save money and increase your ROI. Here at Warehouse ’71, we are always happy to guide DIYers in their projects and provide industry expertise for the decking products we sell!
Feeling Inspired?
Shop Our Premium Close Out Deck Specials
How We Can Help!
Warehouse ’71 has an assortment of high-quality decking materials available at closeout prices 20-40% below retail prices. With many colors and price points to fit any budget, working with Warehouse ’71 for your deck project will save you money and increase the ROI on your new composite deck! You can go to our online store and place orders for pickup or delivery. You can even order samples by mail to make it easier to decide what color you want for your decking or railing without having to leave the house! If you’re looking for inspiration, you can check out some of our recent customer projects or follow us on Instagram, Facebook, and Pinterest.
