The primary reason most people invest in a home remodel project is simply to improve the quality of their home life. Who wouldn’t appreciate a larger kitchen, a new walk-in closet, or beautiful granite countertops instead of Formica? However, in the back of every homeowner’s mind is the question, How much will this remodel add to the value of the house?
After all, even a small remodel is a pricey endeavor, and it makes sense that you want a return on that investment when it comes time for you to sell your home. Fortunately, the publication Remodeling just released its 2015 “Cost vs. Value Report,” which provides a thorough look at the re-sale value of a wide variety of common remodels, including a deck addition.
According to the report, a deck addition is a good overall investment, especially if you live in San Diego!
How Does the Cost vs. Value Report Define a Deck Addition?
The Cost vs. Value report looks at three categories of deck:
- Midrange Wood Deck Addition
- Midrange Composite Deck Addition
- Upscale Composite Deck Addition
The report defines a midrange deck addition as a 16 x 20 foot deck supported by 4 x 4 foot posts that includes a built-in bench, planter, stairs, and railing. The upscale deck, also 16 x 20 feet, boasts a “second 10-foot-diameter six-sided platform one step down from the main deck,” as well as “decorative balusters, post caps, and lighting.”
Obviously, these definitions are generic by nature, and no individual deck will perfectly match the parameters assumed by the report. Use them as a helpful ballpark as you plan your own deck addition.
How Much Is My Deck Addition Worth?
Now for the good part! According to the Cost vs. Value report, a mid-range wooden deck will return a 102.8% of value to the home in San Diego. Not bad at all! If you need one final push to make the decision to add a wooden deck addition to your San Diego home, this is it.
A mid-range composite deck doesn’t have quite the spectacular resale value as its wooden counterpart, but it comes in at 71.9% for the San Diego area. That’s still a very respectable resale value, especially when compared to a sunroom addition, which only offers a measly 50.8% resale value.
What about our high-end deck with two platforms and decorative balusters? In the San Diego market, your luxury deck will return 62.9% of value. This difference is worth taking into consideration if you aren’t sure whether you want to spend the extra money on all the bells whistles. This is especially true because the estimated cost of an upscale composite deck ($40,994) is more than double that of a mid-range composite deck ($17,671) and nearly four times the amount of a mid-range wooden deck ($11,837) according to Remodeling’s report.
What Type of Deck Is Best For You?
Keep in mind that re-sale value should only be one factor in your decision when you start planning your deck addition. If you have no immediate plans to pack up and ship off, then your more immediate concern should be the type of deck you want for your home. Sure, mid-range wooden decks have a higher resale value, but are you willing to seal up your boards every few years or deal with the possibility of termites and dry rot? What if your spouse has their heart set on that second platform and decorative balusters?
If an upscale deck is going to help you enjoy your home and your time on your deck more than a mid-range model, then there is an important value in that too! Also, as I mentioned above, the definitions used by the report are highly generic. The true cost of your deck will depend on a lot of things, including the deck contractor you choose, the materials of the deck, and its curbside appeal. No one can truly predict the resale value of your specific deck addition, so my suggestion is to keep the Cost vs. Value report in mind but to build the deck that speaks to your heart!
Curious about Remodeling’s “Cost vs. Value Report”? Check out the FULL REPORT HERE, where you can find the value of all sorts of different remodels in markets across the country.
If you are considering a deck addition for your San Diego home, contact Best-Rate Repair, your local deck experts!