A high return on investment makes a deck addition a worthwhile home improvement project.
Adding a deck to your home is one of the most worthwhile of all home improvement projects.
One of the reasons that a deck is such a good investment is because it increases living area at a minimal cost per square foot. The national average for new construction costs of a two-story, 2,000-square-foot home is about $95 per square foot, according to the National Association of Home Builders. However, the construction costs for a wood deck are less than $35 per square foot and a composite deck less than $55.
The return on your deck investment will vary according to the region in which you live. In the North-East, where construction costs are generally higher than other parts of the country, decks are more expensive to build. However, the return on investment is also higher than other regions.
Each year, Remodeling magazine’s Cost vs. Value Report provides a fascinating look at the percentage of a home improvement project’s costs that are likely to be recouped at resale. The report finds that not all home remodeling jobs are created equal—you’ll probably get more of your investment back after building a wooden or composite deck, for example, than adding a sun room.
Deck additions are ranked #3 as the best return for the investment.
Homeowners who add a deck to their properties recoup on average nearly 85 percent of the project’s cost when they sell the home, according to the report. Celia Kuperszmid Lehrman, deputy home editor at Consumer Reports, says that the deck’s appeal is linked to today’s more thrift-conscious consumers, who are looking to save money by spending more time at home. “Since they are staying home they want to enjoy their exterior, they want to enjoy their outdoors,” Kuperszmid Lehrman says. “So [adding a deck] is one of those areas that can add value.” Another key benefit of building a deck is : “That’s not heated and cooled space, but it is an opportunity to make you feel like you have a lot more space in your home than you actually have.”