Home modifications do not just upgrade or improve the aesthetics of a house; it can also have an impact on the property value. Home modifications may increase or reduce cost, but it depends on whatever upgrade you make. In a few cases, the value of the property is not affected by the upgrade or modification. Homeowners can choose to upgrade or improve the driveway of their homes, patios, decks and outdoor spaces, as well.
Outdoor spaces are not just for grilling and roasting barbeque during the summer or relaxing by the firepit while you drink chocolate in the fall. Outdoor spaces are where memories are made and where you share unforgettable moments with your loved ones. Adding a deck to your outdoor space can increase your home’s livable space. One of the ways of investing in your home is by adding a deck.
Adding or upgrading a deck is among the most attractive home renovation projects for your home. Let’s show you how your deck can boost your home value.
The addition of a deck to your home can be very pricey. But the fact is that it is not a waste. It is an investment. Decks create a conducive outdoor space for relaxation as well as boosting the resale value of your property. Typically, home modification or improvement projects averagely regain 20-70% of their investment. But recent studies have shown that the return on investment for decks can be as much as 90%, though this depends on the material or size utilised.
The Remodeling Impact Report of 2018 estimated that decks could recoup more than 100% of their cost averagely. In fact, this recovery rate can peak at 110%. Plastic composite decking is the most cost-effective decking material to upgrade your home. Unlike wood decking, it comes in different colours, like grey composite decking, anthracite colour, dark colour and more.
Before we explore some of the decking materials for home remodelling, it is pertinent to look at some of the other factors that can either boost or diminish the value of your home. The following are areas you should take into consideration when constructing a deck for your home.
Duration of stay
The amount of time you will be spending in your home is essential and can have an effect on its value. It is crucial you should use composite decking materials if you intend to resell the house within ten or twenty years. Composite materials are known for their durability and can last for as long as 20 years. If you intend to move out in a short time, then a wooden deck will serve your plans greatly.
The location of your home matters when you are planning to construct your deck. The reason is that if you stay in a place with high temperature, then the wooden deck may be more suitable. In areas with frequent rainfall and humidity, composite decking materials are the best because of their moisture and water-resistant features.
Furniture and Decor
The types of furniture and decoration you have on your deck can astronomically increase the value of your home. High-quality chairs, beautiful umbrellas, spectacular lighting and rectangular table, can increase the visual appeal of your deck.
How composite decking can increase your home value
Composite decking is known to be higher in quality than other decking materials. Hence, it is priced comparatively higher. Studies have shown that composite decks can go as high as £9,500, compared to the wooden deck, which costs £5,000. This price difference reflects the long lastingness, reliability and durable nature of the composite material.
Composite decking is increasingly becoming popular in the real estate industry. Composite decking is resistant to harsh weather, moisture, wind and intense temperatures. It is maintenance-free and easy to care for as only periodical wipe with water is needed to retain its beauty. This host of benefits has won the heart of homeowners who have chosen to build their deck with composite materials to ease the stress and expenses associated with regular and expensive maintenance.
As the composite deck can last for as long as 20 years without fade or stain, we advise you to go for it if you plan on enjoying your deck for many years before putting your home up for sale. The style and colour of your deck will last for years, making it a worthwhile investment for your house.